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2021 (10) TMI 962 - AT - Income TaxValidity of reopening of assessment - scheme of amalgamation conceived - framing the assessment in the name of non-existent entity - assessment framed in the name of amalgamating company - HELD THAT:- Merely because the assessee has participated in the assessment proceedings, the stay proceedings and penalty proceedings post completion of assessment, the inherent defects embedded in the assessment order by way of framing the assessment in the name of non-existent entity would not get cured. It is elementary that “there can be no estoppel against this statute”. As assessee has participated in the assessment proceedings, penalty proceedings and stay proceedings, the assessment framed in the name of amalgamating company (i.e. non-existent entity) would still have to be held as void ab initio in the eyes of law. Reliance in this regard has been rightly placed by the ld. AR on the decision of the Co-ordinate Bench decision of this Tribunal in the case of Satyam Computer Services Ltd., [2020 (7) TMI 329 - ITAT MUMBAI] wherein under similar facts and circumstances, this Tribunal had quashed the entire assessment stating that assessment order passed in the hands of a non-existent entity has no sanctity of law, therefore, the same cannot be sustained and is hereby quashed - Decided in favour of assessee.
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