Transfer Pricing Order Invalidated as Notices Issued to Non-Existent Entity, Rendering Assessment Proceedings Null and Void

ITAT invalidated the transfer pricing (TP) order and draft assessment order issued against a non-existent entity. The tribunal held that notices and orders issued under the name and PAN of a non-existing company are illegal and without jurisdiction, rendering the entire assessment proceeding invalid. Relying on Supreme Court precedents, the tribunal found that such errors cannot be cured under Section 292B of the Income Tax Act. Consequently, the assessee's appeal was allowed, quashing the proceedings issued against the non-existent entity and affirming that foundational documents must be valid for a legitimate assessment process. .....

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