Assessment proceedings against dissolved amalgamated company held invalid due to jurisdictional defect under Section 292B

The SC upheld the HC decision that assessment proceedings against a non-existent company are invalid. The case involved a company that had been amalgamated and dissolved, yet tax authorities continued assessment proceedings in its name. The HC ruled that Section 292B provisions were inapplicable, determining that conducting assessments against non-existing entities constitutes a jurisdictional defect rather than mere procedural irregularity. The court emphasized that assessments cannot be validly made against dissolved entities, comparing it to assessments against deceased persons. The SC found no merit in the revenue's appeals and special leave petitions, confirming the invalidity of such assessments and deciding in favor of the assessee.

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The Supreme Court of India dismissed multiple appeals and special leave petitions after finding no reason to interfere with the impugned judgments passed by the High Court. Delay was condoned, and the learned Senior Counsel for the parties were heard. Justices Rohinton Fali Nariman and Sanjay Kishan Kaul presided over the order.

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