TMI Blog2016 (2) TMI 1077X X X X Extracts X X X X X X X X Extracts X X X X ..... 595/Kol/2008, ITA No. 783/Kol/2008 - - - Dated:- 17-2-2016 - Mahavir Singh, JM And M. Balaganesh, AM For the Petitioner : Mrs Sushmita Basu, CA Sh Amit Patra, FCA For the Respondent : Smt Sucheta Bandyopadhyay, JCIT ORDER Per Shri Mahavir Singh, JM These four cross appeals two by assessee and two by revenue are arising out of orders of CIT(A)-I, Kolkata vide Appeal Nos. 39 177/CIT(A)-I/Cir-1/06-07 dated 23.10.2006 and 14.02.2008 respectively. Assessments were framed by ACIT/DCIT, Circle-1, Kolkata u/s. 143(3) of the Income-tax Act, 1961 (hereinafter referred to as the Act ) for Assessment Years 2003-04 2004-05 vide his orders dated 15.03.2006 and 08.12.2006 respectively. 2. In these four appeals, two by ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... High Court has accepted the amalgamation as under: This court doth hereby sanction the proposed scheme of arrangement for amalgamation set forth in Annexure A of the petition herein and specified in the schedule A hereto and doth hereby declare the same to be binding with effect from first day of April in the year two thousand and four (hereinafter referred to as the said appointed date) on the said transferee company and the said transferor company and their shareholders and all concerned. On query from the Bench, the Ld. Sr. DR fairly conceded the factual position and stated that yes the assessments were framed on a non-existent company i.e. Gestetner (India) Ltd. and whereas no assessment was framed on RICOH India Ltd. Ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y was held not to be entitled to maintain an action in the name of the company after the latter had been dissolved . 11. After the sanction of the scheme on 11th April, 2004, the Spice ceases to exit w.e.f. 1st July, 2003. Even if Spice had filed the returns, it became incumbent upon the Income tax authorities to substitute the successor in place of the said dead person. When notice under Section 143 (2) was sent, the appellant/amalgamated company appeared and brought this fact to the knowledge of the AO. He, however, did not substitute the name of the appellant on record. Instead, the Assessing Officer made the assessment in the name of M/s Spice which was non existing entity on that day. In such proceedings and assessment order pas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s or other proceeding is in substance and effect in conformity with or according to the provisions of the Act. To put it differently, Section 292B can be relied upon for resisting a challenge to the notice, etc., only if there is a technical defect or omission in it. However, there is nothing in the plain language of that section from which it can be inferred that the same can be relied upon for curing a jurisdictional defect in the assessment notice, summons or other proceeding. In other words, if the notice, summons or other proceeding taken by an authority suffers from an inherent lacuna affecting his/its jurisdiction, the same cannot be cured by having resort to Section 292B. 14. The issue again cropped up before the Court in CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... intent and purpose of this Act. Thus viewed, it is not possible for us to accept the contention advanced by the learned Counsel for the appellant on the basis of Section 292B of the 1961 Act. The return under reference, which had been taken into consideration by the Revenue, was an absolutely invalid return as it had a glaring inherent defect which could not be cured in spite of the deeming effect of Section 292B of the 1961 Act. 15. Likewise, in the case of Sri Nath Suresh Chand Ram Naresh Vs. CIT (2006) 280 ITR 396, the Allahabad High Court held that the issue of notice under Section 148 of the Income Tax Act is a condition precedent to the validity of any assessment order to be passed under section 147 of the Act and when such a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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