https://www.taxtmi.com/caselaws?id=761509 The ITAT Delhi held that an assessment order passed in the name of a non-existing entity was invalid. The case involved a company that had merged under Section 394 of the Companies Act 1956, causing the amalgamating company to cease existence. The tribunal ruled that once a company ceases to exist through amalgamation, it cannot be considered a "person" under Section 2(31) of the Income Tax Act 1961, and assessment proceedings cannot be initiated against it. This defect was deemed beyond a mere procedural irregularity that could be cured under Section 292B. The appeal was decided in favor of the assessee. en-us Wed, 06 Nov 2024 00:00:00 +0530 Mon, 11 Nov 2024 17:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761509 The ITAT Delhi held that an assessment order passed in the name of a non-existing entity was invalid. The case involved a company that had merged under Section 394 of the Companies Act 1956, causing the amalgamating company to cease existence. The tribunal ruled that once a company ceases to exist through amalgamation, it cannot be considered a "person" under Section 2(31) of the Income Tax Act 1961, and assessment proceedings cannot be initiated against it. This defect was deemed beyond a mere procedural irregularity that could be cured under Section 292B. The appeal was decided in favor of the assessee. Case-Laws Income Tax Wed, 06 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761509