2017 (8) TMI 1732 - AT - Income Tax

Assessment on a company which is not in existence - assessee company has been liquidated and does not exist in the eyes of law - HELD THAT - As noted, it is a fact that assessment in this case was made on the assessee by issue of notice dated 29.03.2012. But, much before the date on initiation of the assessment proceedings, the assessee company had liquidated on 11.03.2009. We do not find any infirmity in the order of the CIT(A) in holding that the assessment framed as null and void in the name of the company which had already liquidated. Decided in favour of assessee.

Summary

The Appellate Tribunal ITAT Mumbai dismissed the appeal filed by the assessee as withdrawn. The appeal filed by the Revenue was also dismissed as the assessment on a company that was not in existence was quashed. The assessment was deemed null and void as the company had already liquidated before the initiation of the assessment proceedings. The order of the CIT(A) was confirmed based on relevant legal precedents.