2018 (3) TMI 1879

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....eopened by issue of notice under Section 148 on 10th March, 2016, on the allegation that income has excaped assessment in respect of a sum of Rs. 10,00,000/- received by the assessee during the year from Shalini Holdings Ltd. The AO being not satisfied with the reply of the assessee made addition of Rs. 10,00,000/- in the hands of the assessee vide reassessment order dated 28th December, 2016. 3. Aggrieved by the order of the AO, the assessee filed appeal before the CIT(A). The assessee raised issue on reopening of assessment being bad in law and also on merit. The CIT(A) not being satisfied with the submission of the assessee dismissed the appeal both on the issue of reopening as well as on merit. 4. Aggrieved by the order of the CIT(A),....

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....The company having got amalgamated with TTJ Impex Pvt. Ltd as on 01/04/2013. The entity Nirvana Life Style Pvt. was not in existence as on 10/03/2016. On the basis of above, it was submitted that the entire proceedings of issue of notice and reassessment order are bad in law and be quashed. The Ld. AR further submitted that notice under Section 148 has been issued in the name of an non existing company which itself is bad in law as held by the Hon'ble Apex Court in the case of CIT New Delhi Vs M/s Spice Enfotainment Ltd [Civil Appeal No. 285 OF 2014, 286 OF 2014 dated 2-11-2017] where in the Hon'ble court while dismissing the appeal of the revenue has upheld the order of the Delhi High Court. 7. The Ld. DR submitted that the assessee compa....

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.... upholding the order of the Hon'ble Delhi High Court on this issue has held as under: "12. Once it is found that assessment is framed in the name of non-existing entity, it does not remain a procedural irregularity of the nature which could be cured by invoking the provisions of Section 292B of the Act. Section 292B of the Act reads as under:- "292B. No return of income assessment, notice, summons or other proceedings furnished or made or issue or taken or purported to have been furnished or made or issued or taken in pursuance of any of the provisions of this Act shall be invalid or shall be deemed to be invalid merely by reasons of any mistake, defect or omission in such return of income, assessment, notice, summons or other proceedin....