Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (12) TMI 544 - AT - Income TaxAssessment order passed in the name of the company (assessee) as struck off by MCA - dissolution of the company - name of the assessee company has been struck off from the register and the company was dissolved from that date - HELD THAT:- Appellant entity is not in existence since 18th March, 2011, as per the certificate issued by the Registrar of Companies, Maharashtra, Mumbai as its name has been struck off under Section 560 (5) of the Companies Act, 1986, in easy exist Scheme, 2010. The co-ordinate Benches in assessee’s own case [2022 (7) TMI 1485 - ITAT MUMBAI] for A.Y. 2011-12 and [2018 (2) TMI 1936 - ITAT MUMBAI] for A.Y. 2007-08 has already quashed the assessment orders. The issue is now also squarely covered by the decision of Hon'ble Jammu and Kashmir and Ladakh High Court M/S. RAINAWARI FINANCE & INVESTMENT COMPANY PVT. LTD. [2023 (11) TMI 812 - JAMMU AND KASHMIR AND LADAKH HIGH COURT] wherein it has been categorically held that once a company is dissolved under Section 560(5) of the Companies Act, it ceases to exist and therefore, no order of assessment could be validly passed against it under the Income Tax Act and if it is so passed, it would be a nullity. Thus assessment orders passed in the name of non existing company are not sustainable and correctly quashed by ld CIT (A). Decided against revenue.
|