2026 (3) TMI 1222

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....022 passed u/s 147 r.w.s. 144 of the Act, 1961. 2. There is no appearance by the assessee or his counsel in spite of repeated calls neither in physical mode nor in virtual. No adjournment application has been filed either. It is seen from order sheet entries that there has not been any representation by the assessee on previous three occasions on 18th Aug., 2025, 25th Sept., 2025 and 17th Dec., 2025 even though notices have been issued vide registered post. In absence of any representation, we proceed to dispose off the case on merits on the basis of materials available on record and after hearing the ld. DR. 3. There are three grounds of appeal taken by the revenue in Form No. 36 and the main grievance is that the ld. first appellate....

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....ng as under: "Therefore, the action of the AO to tax the gross receipts is not sustainable. The AO is directed to bring to tax; the profit element embedded in the gross receipts of the appellant for the year under consideration. The P & L account and balance sheet are enclosed herewith for ready reference as annexure-1. Therefore, addition made by the AO amounting to Rs. 5,28,32,238/- is hereby deleted. Accordingly ground no. 05 to 07 raised by the appellant are hereby partly allowed." 8. It has also been brought to notice before the CIT(A) in course of appellate proceedings by the assessee company that the company has been struck off in pursuant to sub-section 5 of section 248 of the Companies Act, 2013 by the Registrar of Comp....

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..../s 248 of the Companies Act 2013, but the tax assessment has commenced before the struck off date, the companies dissolution does not automatically invalidate them and liabilities will exist and provisions of section 248(7) of the Companies Act 2013 rws 252 of the said Act for all practical purpose, will operate. ITA No. 46/ASR/2025 for Asst. Year: 2013-14 13. This appeal is filed by the assessee, belatedly by 273 days, and considering the fact that the company has been struck off the delay in filing of this appeal condones and the same is admitted for hearing on merits. 14. In absence of any response before the Ld. First appeal authority the appeal has been dismissed without adjudication on merits. 15. The nature of business of....