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2014 (1) TMI 1894 - AT - Income TaxRevision u/s 263 passed on a non-existent company - scheme of amalagamtion initiated - assessee stated that no company in the name of Aarcee Holding Pvt. Ltd. was in existence as on the date of show cause notice dated 23.12.2010 initiating revision proceeding u/s. 263 - HELD THAT:- Assessee before us filed copy of the decision of Hon’ble Delhi High Court in the case of Spice Infotainment Ltd. Vs. CIT [2011 (8) TMI 544 - DELHI HIGH COURT] wherein it is held that assessment in the name of the company which has been amalgamated with another company and stands dissolved is null and void; assessment framed in the name of a non-existing entity is a jurisdictional defect and not merely a procedural irregularity of the nature which can be cured by invoking the provisions of s. 292B. In the present case also the amalgamation took place vide the order of Hon’ble Calcutta High Court dated 17.04.2008 w.e.f. 01.04.2007 and this Company Aarcee Holding Pvt. Ltd. has amalgamated with Padmavati Properties & Trust Ltd. and no revision order can be passed on a non-existent company. Hence, the very premise of the revenue that revision order passed on a non-existent company does not stand. Moreover, the issue is also covered by the decision of Hon’ble Calcutta High Court in the case of I. K. Agencies P. Ltd. Vs. CIT [2011 (3) TMI 690 - CALCUTTA HIGH COURT]. As the issue is squarely covered, we quash the revision proceeding, which is null and void and the appeal of assessee is allowed.
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