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TMI Blog2011 (4) TMI 1515X X X X Extracts X X X X X X X X Extracts X X X X ..... ER Hari Om Maratha, These cross appeals by the assessee and Revenue respectively, for assessment year 2000-01, are directed against the order of the ld. CIT(A)-III, Chennai, dated 29.1.2010. 2. Briefly stated, the facts of the case are that the assessee is a closely held company and was engaged in the business of dealing in shares. The name of the company had been struck off from t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (iii) Interest 42,94,140 (iv) Service charges 32,99,560 (v) Investments 21,75,00,493 (vi) Electronic transfer charges 76,93,929 (vii) Office Maintenance 22,79 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ltd vs ITO [2005] 276 ITR (AT) 136. 4. The additional ground goes to the very root of the matter, therefore, we chose to hear the parties on this additional ground. The ld.AR vehemently argued that since the name of the appellant company was struck off from the register of Registrar of Companies even before the assessment order was framed, the assessment made on a non-existing entity tantamou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Companies whose names have been struck off from the register of Registrar of Companies, and the company stands dissolved thereafter. These facts, if found to be correct, the assessment order has been framed against a non-existent entity. The ratio of the decision of the ITAT Delhi Bench rendered in the case of Impsat P. Ltd vs ITO(supra), will squarely apply to this case. In this case it has b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... esseecompany was a nullity. 5. But, the facts relating to this issue are not clearly culled out and the Assessing Officer is required to verify the same. Therefore, both these appeals are restored to the file of the Assessing Officer. The Assessing Officer shall investigate and state the clear facts. In case he finds that the company was not in existence at the relevant time, the assessment ..... X X X X Extracts X X X X X X X X Extracts X X X X
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