https://www.taxtmi.com/caselaws?id=467593 A company struck off from the Register of Companies remained amenable to income-tax proceedings because the Companies Act preserves its existence for liabilities and obligations, including compliance with tax notices and assessment proceedings; the notice under section 148 and the reassessment were therefore valid. The addition for unexplained bank credits was also sustained because the assessee offered no source explanation before the lower authorities or the Tribunal, leaving the deposits unexplained and taxable under section 68. On both the jurisdictional objection and the merits of the cash credits, the challenge failed and the reassessment was upheld. en-us Wed, 24 Jan 2024 00:00:00 +0530 Wed, 25 Mar 2026 18:17:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467593 A company struck off from the Register of Companies remained amenable to income-tax proceedings because the Companies Act preserves its existence for liabilities and obligations, including compliance with tax notices and assessment proceedings; the notice under section 148 and the reassessment were therefore valid. The addition for unexplained bank credits was also sustained because the assessee offered no source explanation before the lower authorities or the Tribunal, leaving the deposits unexplained and taxable under section 68. On both the jurisdictional objection and the merits of the cash credits, the challenge failed and the reassessment was upheld. Case-Laws Income Tax Wed, 24 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467593