TMI Blog2022 (5) TMI 832X X X X Extracts X X X X X X X X Extracts X X X X ..... 3 and the show cause notice u/s 142(1) of the Act in the name of M/s Saurabh Overseas Pvt. Ltd., The assessment order has been passed u/s on 147/143(3) on 30/03/2014 against M/s Saurabh Overseas Pvt. Ltd., on the which dates M/s Saurabh Overseas Pvt. Ltd. was non existing entity. Therefore, in our considered opinion, passing the assessment order against non existing entity is not sustainable in the eyes of law and the same is void ab initio. Appeal of assessee allowed. - I.T.A. No. 6138/Del/2016 - - - Dated:- 11-5-2022 - Shri Anil Chaturvedi, Accountant Member And Sh. Yogesh Kumar U.S., Judicial Member For the Appellant : Sh. Ved Jain, Adv And Sh. Ashish Goel, Adv For the Respondent : Sh. B. S. Anand, Sr. DR ORDER P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 147, read with Section 148, is bad and liable to be quashed as the condition and procedure prescribed under the statute have not been satisfied and complied with. 3. On the facts and circumstances of the case, the learned CIT(A) has erred both on facts and in law in rejecting the contention of the assessee that the reassessment proceedings initiated by the learned A.O. are bad in the eye of law as the reasons recorded for the issue of notice under Section 148 are bad in the eye of law and are contrary to the facts. 4. On the facts and circumstances of the case, the learned CIT(A) has erred both on facts and in law in rejecting the contention of the assessee that the order passed by learned A.O. is bad both in the eye of law a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... facts and in law in confirming the addition of Rs.2,60,00,000/- made by AO on account of share capital under section 68 of the Act. 9. On the facts and circumstances of the case, the learned CIT(A) has erred both on facts and in law in rejecting the explanation and evidence brought on record by the assessee to prove the identity and creditworthiness of the shareholder as well as genuineness of the transaction. 10. On the facts and circumstances of the case, the learned CIT(A) has erred both on facts and in law in confirming the addition despite the fact that the same has been made by the AO without bringing any adverse material on record or to point out any defect in the evidences filed by the assessee. 11. On the facts and c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5. That it is submitted that the following two additional grounds may kindly be taken as the same goes to the root of the issue and all the facts are already on record. 15. On the facts and circumstances of the case, the learned CIT(A) has erred, both on facts and in law, in confirming the order passed by the AO u/s 147/143(3), despite the fact that the same being passed in the name of a nonexistent entity, is illegal and void ab-initio. 16. On the circumstances and facts of the case, the reassessment framed in the name of M/s Saurabh Overseas Pvt. Ltd which had since amalgamated with M/s DBG Leasing and Housing Ltd. and had ceased to exist in the eye of law, was nonest. 6. That the grounds revised in this application ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty is illegal, void and ab initio. 6. Per contra, Ld. DR submitted that the assessee has filed the appeal before CIT(A) in the name of M/s Saurabh Overseas Pvt. Ltd. and even before this Tribunal, the appeal has been filed in the name of M/s Saurabh Overseas Pvt. Ltd. and by way of revised Form No. 36 the name of the appellant has been mentioned as Saurabh Overseas Pvt. Ltd. (Now merged with DBG Leasing and Housing Ltd.) . Therefore, submitted that no interference is called for by this Tribunal. 7. We have heard the parties and perused the material on record and gave our thoughtful consideration. M/s Saurabh Overseas Pvt. Ltd. ceased to be exist w.e.f. 07/05/2011 on which date the said Company has merged with DBG Leasing and Housing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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