2022 (12) TMI 1595

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....income for AY. 2011-12). 2. Brief facts of the case as noted by the AO (in the quantum assessment order) was that he received information from NMS (Non-Filers Monitoring System) that assessee company has deposited cash aggregating to Rs.14,00,000/- with Oriental Bank of Commerce from source which was un-known. As per the AO, the assessee being corporate entity is under obligation to furnish u/s 139(1) of the Act. According to the AO, from the department's system it is observed that the assessee company did not file its return of income for AY 2011-12 either u/s 139(1) or u/s 139(4) or u/s 139(5) of the Act. Therefore, after recording reasons for reopening u/s 147 of the Act, the AO issued notice u/s 148 of the Act on 27.03.2018. Pursuant....

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....otice dated 03.05.2012 (refer page no. 1 of the PB) (AY. 2013-14); and consequently the notice issued by AO u/s 148 of the Act (reopening the assessment) was bad in law. Even though, it was brought to the notice of the AO that the assessee company is not in existence vide letter dated September, 07, 2018 (refer page no. 2 of the PB) but the AO went ahead to frame the re-assessment by order dated 20.01.2018 which according to Ld. AR is null in the eyes of law. 3. Having heard both the parties and after perusal of the records, it is noted that the assessment has been framed/made on a non-existent company since the assessee company has been dissolved/struck off from the Register of Registrar of Companies after thirty (30) days from 03.05.20....

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....ent case, despite the fact that the assessing officer was informed of the amalgamating company having ceased to exist as a result of the approved scheme of amalgamation, the jurisdictional notice was issued only in its name. The basis on which jurisdiction was invoked was fundamentally at odds with the legal principle that the amalgamating entity ceases to exist upon the approved scheme of amalgamation. Participation in the proceedings by the appellant in the circumstances cannot operate as an estoppel against law. This position now holds the field in view of the judgment of a co-ordinate Bench of two learned judges which dismissed the appeal of the Revenue in Spice Enfotainment on 2 November 2017. The decision in Spice Enfotainment has bee....