2022 (3) TMI 563

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....sali, Ld. AR For the Respondents : Hoshang B. Irani, Ld. DR ORDER Per Kavitha Rajagopal , Judicial Member The present Appeal filed by the revenue challenging the order dated 04.12.2018 passed by Ld. Commissioner of Income Tax (Appeals) - 13, Mumbai in short referred as 'Ld. CIT(A)' in the matter of assessment u/s. 143(3) of Income Tax Act, 1961 (in short 'I.T. Act') for....

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....cessary. III. The appellant prays that the order of CIT(A) on the above grounds be set aside and that of the AO restored. 2. The brief summary narrated in the order is as under:- The assessee company is a NBFC registered under RBI and was engaged in the business of trading in shares, finances and investments. The assessee company filed its return of income on 30.09.2012 declaring to....

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....ed that the assessment proceedings itself should be quashed as it was carried out on erstwhile company and that the Ld. CIT(A) order should be upheld. 4. We have given our careful consideration to the rival contentions and the materials placed on record before us. Though in the similar issue of the assessee for the AY 2010-11, the revenue was on appeal on the issue whether assessment proceeding....

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....e AO. Despite this, the AO issued jurisdictional notice only in the name of the non-existing company. We are of the considered view that the decision in ITA No. 3038/Mum/2019 in assessee's own case for AY 2010-11 placing reliance on the decision of the Hon'ble Supreme Court in PCIT vs. Maruti Suzuki India Ltd. [2019] 107 taxman.com 375 (SC) will hold good for the present appeal also. The g....