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2020 (6) TMI 370 - AT - Income TaxValidity of the assessment on the reasoning that it was framed in the name of non-existent company - Admission of additional evidence - HELD THAT:- Admittedly the additional ground of appeal was not raised by the assessee before the authorities below. However, all the facts related to the additional ground of appeal are arising from the order of the authorities below and no additional fact needs to be referred. Further, we also note that the issue raised by the assessee in the additional ground of appeal is legal in nature which can be admitted at any stage during the proceedings in view of the judgment in the case of NTPC Ltd Vs.CIT [1996 (12) TMI 7 - SUPREME COURT]. Accordingly, we admit the additional ground of appeal raised by the assessee and proceed to adjudicate the same. Transfer pricing adjustment on specified domestic transactions of sale of finished goods undertaken with the AE - HELD THAT:- In the case of a company, the ld. Commissioner was required to issue a show cause notice against a juridical person contemplated in section 2(31) of the Income Tax Act and if a juridical person ceases to exist then it would not be construed as a person within the meaning of section 2(31) against whom any action can be taken. The Commissioner would not assume proper jurisdiction and such type of defect would not be cured with help of section 292B of the Act, because it is not a procedural irregularity which could be cured. We also note that this Tribunal in the case of Snowhill Agencies Pvt. Ltd. Vs. Pr. CIT [2020 (1) TMI 1029 - ITAT AHMEDABAD] involving identical facts and circumstances has decided the issue in favour of the assessee.We note that the assessment framed under section 143(3) r.w.s. 92CA of the Act is not sustainable. Hence the additional ground of appeal of the assessee is allowed.
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