TMI Blog2014 (12) TMI 1203X X X X Extracts X X X X X X X X Extracts X X X X ..... o 5305/Del/2013 and ITA No. 5306/Del/13, ITA No. 5418 to 5423/Del/13 - - - Dated:- 19-12-2014 - G. D. Agrawal (Vice-President) And H. S. Sidhu (Judicial Member) For the Petitioner : Kapil Goel, B. K. Dhingra For the Respondent : R. I. S. Gill ORDER 1. These are cross-appeals directed against a common order passed by the Ld. CIT (Appeals)-II, New Delhi dt. 16th July, 2013 pertaining to the asst. yrs. 2003-04 to 2008-09. 2. Since the facts and grounds of the appeals in all the assessment years are more or less common, we shall consider the facts and grounds of appeal for the asst. yr. 2003-04, and the decision arrived at for the asst. yr. 2003-04 would be equally applicable to other asst. yrs. from 2004-05 to 2008-09 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IT (Appeals). Therefore, the Revenue is in appeal against the deletion of the addition by the Ld. CIT (Appeals). The assessee is in appeal wherein the validity of the initiation of proceedings under s. 153C on various grounds have been challenged. However, at the time of hearing before us, the learned counsel for the assessee first referred and argued ground No. 5 of the assessee's appeal. Therefore, we have taken up ground No. 5 of the assessee's appeal first for hearing and adjudication. It was stated by the learned counsel for the assessee that there was amalgamation of the assessee company with M/s Sainath Associates (P) Ltd., the Hon'ble jurisdictional High Court sanctioned the amalgamation vide order dt. 25.05.2010. That a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... order is validly passed and the same should be upheld. 6. We have carefully considered the arguments of both sides, perused the material placed before us. Admittedly the assessment for the year under consideration has been completed on the basis of notice under s. 153C dt. 14.09.2010 which reads as under: Dt. 10.09.2010 To : M/s Image Credit Portfolio Pvt. Ltd., Delhi In pursuance of the provisions of s. 153C of the IT Act, 1961, inserted by the Finance Act, 2003 w.e.f. 1st June, 2003, you are required to furnish return of income in respect of asst. yr. 2003-04 in respect of which you are assessable as company. The return shall be in 'Form' as prescribed in sub-r. (1) of r. 12 of IT Rules, 1962 and shall be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd Portfolio (P) Ltd. was issued on 10th Sept., 2010 i.e. after the date when M/s Image Credit Portfolio (P) Ltd. ceased to exist. The Hon'ble jurisdictional High Court has considered the validity of notice issued under s. 143(2) of the Act after amalgamation in the case of Spice Infotainment Ltd. (supra). Their Lordships held as under : 11. After the sanction of the scheme on 11th April, 2004, the Spice ceases to exist w.e.f. 1st July, 2003. Even if Spice had filed the returns, it became incumbent upon the IT authorities to substitute the successor in place of the said 'dead person'. When notice under s. 143(2) was sent, the appellant/amalgamated company appeared and brought this fact to the knowledge of the AO. He, howe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay, 2010. Whether it is in the knowledge of the Revenue or not any notice issued in the name of a non-existent person is a nullity. Therefore, we hold that the issue of notice under s. 153C of the Act on 10th Sept., 2010 was void. It may be pointed out that on 19th Nov., 2010 the assessee intimated to the AO with regard to amalgamation of the assessee company with M/s Sainath Associates (P) Ltd. and also furnished a copy of the order of the Hon'ble jurisdictional High Court. At that time the AO could have issued the notice under s. 153C in the name of the transferee company i.e. M/s Sainath Associates (P) Ltd. However, the AO instead of issuing notice in the name of transferor company chose to complete the assessment in the name of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
