2014 (12) TMI 1203

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....on, we shall consider the facts and grounds of appeal for the asst. yr. 2003-04, and the decision arrived at for the asst. yr. 2003-04 would be equally applicable to other asst. yrs. from 2004-05 to 2008-09. 3. Ground No. 5 of the assessee's appeal which is against the validity of the issue of notice under s. 153C of the Act and consequently the completion of assessment in pursuance thereto, reads as under : "5. That on the facts and circumstances of the case and the provision of law, the Ld. CIT (Appeals) has failed to appreciate that initiation of proceedings under s. 153C including issue of notice and also completion of assessment on the company which has already become non-existent on account of its merger with other com....

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....ath Associates (P) Ltd., the Hon'ble jurisdictional High Court sanctioned the amalgamation vide order dt. 25.05.2010. That after the order of the amalgamation by the Hon'ble jurisdictional High Court the assessee company namely Image Credit & Portfolio (P) Ltd. (supra) ceased to exist. That the AO issued notice under s, 153C on 14.09.2010 which was after the order of Hon'ble jurisdictional High Court sanctioning the scheme of amalgamation. Thus the notice issued under s. 153C in the name of non-existing company is a nullity and consequently the assessment framed on the basis of notice issued under s. 153C is also a nullity. In support of this contention he relied upon the decision of the Delhi "F" Bench of the Tribunal in the ca....

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....you are assessable as company. The return shall be in 'Form' as prescribed in sub-r. (1) of r. 12 of IT Rules, 1962 and shall be delivered in this office within 15 days of service of this notice. The prescribed form should be duly verified and signed in accordance with the provisions of s. 140 of the IT Act, 1961. Sd/- (Gautam Deb) Asstt. CIT, CC 17, N.Delhi." 6.1 From the above it is evident that the notice has been issued in the name of M/s Image Credit & Portfolio Ltd. That the Hon'ble Delhi High Court, which is the jurisdictional High Court, has passed the order dt. 25th May, 2010 under s. 394 of the Companies Act, 1956 approving the amalgamation of the assessee company with M/s Sainath Associat....

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....#39;dead person'. When notice under s. 143(2) was sent, the appellant/amalgamated company appeared and brought this fact to the knowledge of the AO. He, however, did not substitute the name of the appellant on record. Instead, the AO made the assessment in the name of M/s Spice which was non-existing entity on that date. In such proceedings and assessment order passed in the name of M/s Spice would clearly be void. Such a defect cannot be treated as procedural defect. Mere participation by the appellant would be of no effect as there is no estoppel against law." 6.2 The ratio of the above decision would be squarely applicable to the case of the assessee because the facts are identical. In the above mentioned case notice under s. 143(....