TMI Blog2015 (9) TMI 234X X X X Extracts X X X X X X X X Extracts X X X X ..... undisputed fact is that on the date on which the notice was issued to the Respondent under Section 153C of the Act i.e. 10th September 2010 it was an entity that has ceased to exist in the eyes of law. The mere use of the noticee’s letterhead to address correspondence to the AO cannot tantamount to reviving an entity which has already ceased to exist. Further the mere fact that in the assessment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 260A of the Income Tax Act, 1961 ( Act ) by the Revenue, the short question that arises for consideration concerns the very legality of the initiation of proceedings against the Respondent Images Credit and Portfolio Private Limited under Section 153C of the Act. 2. The ITAT has in the impugned orders upheld the contention of the Assessee and held that a notice was issued under Section 153C of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the appointed date i.e. 1st April 2008 . 4. Consequently, on the day the notice was issued to it under Section 153C of the Act i.e. 10th September 2010, the Respondent company had ceased to exist. 5. In the impugned order, the ITAT referred to an earlier decision dated 3rd August 2011of this Court in Spice Enfotainment Ltd. v. CIT (ITA No. 475/2000) where in similar circumstances, it was he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly on 19th November 2010 that the Respondent referred to its merger with SAPL enclosing a copy of the order of the High Court. In the assessment order, the Assessing Officer ( AO ) referred to the Respondent as having amalgamated with SAPL. On the basis of the above facts, learned counsel urged that the decision of this Court in Spice Enfotainment Ltd. (supra) would have no application in the pres ..... X X X X Extracts X X X X X X X X Extracts X X X X
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