TMI Blog2013 (3) TMI 436X X X X Extracts X X X X X X X X Extracts X X X X ..... upon a dissolved company is impermissible as there is no provisions in Income Tax Act to make an assessment thereupon. CIT(A) has rightly held that assessment on a company which has been dissolved by amalgamation u/s. 391 and 394 of the Companies Act, 1956 is invalid as admittedly, assessee company in the present case stood dissolved on 19.9.2010 on amalgamation with M/s Lakhanpal Infrastructure Pvt. Ltd. and the assessment order in the present case was framed on 31.12.2010 - in favour of assessee. - ITA NOS. 577-582/DEL/2012 & C.O. NOS. 92-97/DEL/2012 - - - Dated:- 19-2-2013 - Shamim Yahya And C. M. Garg,JJ. Sh. Salil Kapoor, Advocate Department by : Sh. Gunjan Prasad, C.I.T.(D.R.) ORDER PER BENCH These Appeals by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... craves leave to add, alter or amend any / all of the grounds of appeal before or during the course of the hearing of the appeal. 4. The assessee on the other hand has objected the first appellate order in its cross objections on the following common grounds :- i) That in view of the facts and circumstances of the case and in law the Ld. Commissioner of Income Tax (A) has erred in not holding that the notice issued u/s. 153C and the assessment order passed u/s. 153C/143(C) are illegal, bad in law, without jurisdiction and barred by time limitation. ii) That the documents found during search proceedings, as referred to in the satisfaction note, do not belong to assessee as the same were part of working papers of the C.A. Sh. B.K. Dhing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of proceedings u/s. 153C and as such the assessment being bad in law deserves to be quashed. vii) That the respondent reserves the right to add/ amend/ alter the grounds of cross objection. 5. On the perusal of the above grounds of the appeals/ cross objections, we find that the issue raised in the ground no. 1 of the Revenue appeal goes to the route of the matter. In this connection, the issue raised was as to whether the assessment order passed on the assessee is invalid, since the assessee company stood dissolved on amalgamation with M/s Lakhanpal Infrastructure Pvt. Ltd. Therefore, we adjudicate upon this issue in the first instance. 6. The Revenue has question the action of the Ld. Commissioner of Income Tax (A) in holding th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at (P) Ltd vs. I.T.O., ITAT, Delhi 'A' Bench I.T.A. NO. 1430/Del/2004 dated 28.7.2004 : 2005 TTJ (Del) 552 : (2004) 91 ITD 354 (Del.). Commissioner of Income Tax vs. Vived Marketing Servicing Pvt. Ltd. I.T.A. No. 273/2009. C.I.T. vs. Express Newspapers Ltd., (1960) 40 ITR 38 (MAD) : (1960) Tax 13(3)-282. Commissioner of Income Tax vs. Amarchand N. Shroff, (1963) 48 ITR 59 (SC); I.K. Agencies Pvt. Ltd. vs. Commissioner of Income of Wealth Ta, Kol-III, Judgement dated 11th March, 2011. Triveni Engineering Industries Ltd. vs. Deputy Commissioner of Income Tax, ITAT, Delhi WT Bench, (2005) 93 TTJ (Del) 806: (2005) 93 ITD 561. Century Enka Ltd. VS. Deputy Commissioner of On 14 February, 2006 : 2006 101 ITD 489 Mum, 2008 303 ITR 1 M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s per the provision of the Companies Act. On amalgamation, the company seizes to exist in the yes of the law. Thus, assessment upon a dissolved company is impermissible as there is no provisions in Income Tax Act to make an assessment thereupon. Ld. Commissioner of Income Tax (A) in our view, has therefore, rightly held that assessment on a company which has been dissolved by amalgamation u/s. 391 and 394 of the Companies Act, 1956 is invalid. Admittedly, assessee company in the present case stood dissolved on 19.9.2010 on amalgamation with M/s Lakhanpal Infrastructure Pvt. Ltd. and the assessment order in the present case was framed on 31.12.2010. Hence, we uphold the order of the Ld. Commissioner of Income Tax (A). 9. In view of the a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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