Tribunal Rectifies Error in Assessment Order, Invalid Name Cancelled, Assessee's Grounds Allowed

The Tribunal issued a corrigendum to rectify errors in the order related to company names. The assessment order issued in the name of a non-existent entity was deemed invalid and canceled. This led to the allowance of the assessee's additional grounds, rendering the merits of the issue academic.

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Issues:
1. Correction of order dated 05.06.2018 regarding computation of income and notice of demand issued in the wrong company name.
2. Validity of assessment order issued in the name of a non-existent entity.

Issue 1 - Correction of Order:
The assessee moved an application for the correction of the Tribunal's order, pointing out an error in the computation of income and the notice of demand issued in the name of the wrong company. The original order referred to M/s. Akzo Nobel India Limited instead of M/s. Akzo Nobel Chemicals (India) Limited, the correct amalgamating company. A corrigendum was issued to rectify this error in the order.

Issue 2 - Validity of Assessment Order:
The Tribunal acknowledged another error in the order where the final assessment, demand notice, and computation of income were made in the name of the amalgamated company, Akzo Nobel Chemicals (India) Limited. However, the Transfer Pricing Officer (TPO) and Dispute Resolution Panel (DRP) passed orders in the name of the amalgamating company, Akzo Nobel India Limited, a non-existent entity. Consequently, the assessment order was deemed invalid and canceled. The assessee's additional grounds were allowed, and since the assessment order was invalid, the merits of the issue became academic, leading to the allowance of the grounds raised by the assessee.

In conclusion, the Tribunal issued a corrigendum to rectify errors in the order related to the company names, ensuring accuracy in the references made in the judgment. The assessment order issued in the name of a non-existent entity was declared invalid, leading to the cancellation of the order and the allowance of the assessee's additional grounds.

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