9911796707
TMI Blog2013 (12) TMI 717X X X X Extracts X X X X X X X X Extracts X X X X ..... en taken by Revenue and assessee in respect of all years. The Revenue has challenged CIT (A)'s order vide ground no.1 regarding upholding that assessment on a company which has been dissolved/ amalgamated is invalid. The other grounds taken by Revenue relates to deletion of additions on merits. On the other hand, assessee has filed Cross Objections regarding initiation of proceedings on legal and factual basis. The company with which assessee had amalgamated is Optus Resorts (P) Ltd. whereas in the grounds of appeal the revenue has mentioned the name of M/s Dynamic Buildwell Ltd. This name has been mentioned wrongly as can be verified from the order of High Court placed at paper book page 17. 2. The brief facts of the case are that search ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amalgamation with M/s Optus Resorts Pvt. Ltd. It is also admitted fact that after filing the 'Return of Income' for the relevant assessment year, under protest, the appellant company informed the Assessing Officer about the fact of the amalgamation vide its letter date Nil filed in response to notice u/s 143(2) and u/s 142(1) of the Income Tax Act,1961. "The assessee company would like to submit that it has already been amalgamated with "M/s Optus Resorts Pvt. Ltd." vide Delhi High Court order dated 07.12.2009 passed u/s 391 (2) and 394 of the Companies Act, 1956, copy of the same is enclosed." 20. It is also noted that the Assessing Officer in its report has admitted the fact that the appellant Co. M/s Presto Metals (P). Ltd. was amalga ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... isdictional Delhi High Court's order in the case of ITA No.273/2009 COMMISSIONER OF INCOME TAX vs VIVED MARKETING SERVICING Pvt. Ltd. is reproduced hereunder:- "When the Assessing Officer passed the order of assessment against the respondent company, it had already been dissolved and struck off the register of the Registrar of companies u/s 560 of the Companies Act. In these circumstances, the Tribunal rightly held that there could not have been any assessmsent order passed against the company which was not in existence as on that date in the eyes of law it had already been dissolved. The Tribunal relied upon its earlier decision in Impsat Pvt. Ltd. vs. ITO 276 ITR 136 (AT). We are of the opinion that the view taken by the Tribunal is per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... action in the name of the company after the latter had been dissolved" In view of the above stated facts of the case and keeping in mind the views of various courts and tribunals particularly the Hon'ble Supreme Court, Jurisdictional Delhi High Court and Tribunal as discussed above, in my considered opinion, a company, incorporated under the Indian companies Act is a Judicial person. It take its birth and gets life with incorporation. It dies with the dissolution as per the provision of the companies Act. It is trite law that the amalgamating company ceases to exist in the eyes of law. Having regard to this consequence provided in law, assessment upon a dissolved company is impermissible as there is no provision in income tax to make an as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rder in I.T.A. No.565 to 570/Del/ at page 9 of the order certain observations were made by the Tribunal which may be incorporated in the present appeals also. In this respect our attention was invited to paper book page 113 where relevant copy of order was placed. The Ld AR invited our attention to the findings of Ld CIT(A) as contained at paras 23 to 26 vide paras 15 & 16 and submitted that Ld CIT(A) has elaborately dealt with the issue and relying upon various case laws has decided in favour of the assessee. 5. We have heard the rival submissions of both the parties and have gone through the material available on record. We fully concur with the findings of Ld CIT(A) that a company incorporated under the Indian Companies Act is a juristi ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
