9911796707
TMI Blog2020 (1) TMI 1418X X X X Extracts X X X X X X X X Extracts X X X X ..... re directed to restore the name of the Respondent Company in their Register and also proceed to take such other and further penal action against the respondents in accordance with the statutory provisions. The name of the Respondent Company shall then, as a consequence, stand restored to the Register of the Registrar of Companies, as if the name of the company had not been struck off in accordance with Section 248(1) of the Companies Act, 2013. Application allowed. - Appeal No. 1034/252/ND/2018 - - - Dated:- 16-1-2020 - DR. DEEPTI MUKESH, HON BLE MEMBER (JUDICAL) And SH. HEMANT KUMAR SARANGI, HON BLE MEMBER (TECHNICAL) For the Appellant : Ms. Bhawna Singh Advocate for Ms. Lakshmi Gurung, Sr. Stn. Counsel For the ROC : Mr. M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r the A.Y. 2011-12. This receipt is clearly out of taxable income earned by the Assesse Company during the year under consideration. However, as per the ITD system and records the Assesse has not filed any return of income for the year under consideration till date. 4. The applicant further states that the Income Tax Return for A. Y. 2011-12 of the respondent company was analysed in the light of the information provided by Investigation Wing. Gross receipt of ₹ 3,42,000/-, meager cash balance of ₹ 25,574/- as on 31.03.2010 and ₹ 28,871/- as on 31.03.2011 does not substantiate the cash deposit of ₹ 1,13,50,000/- and total credit of ₹ 3.01 crores. 5. In view of the above facts, an estimated amount of at lea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y of the striking off the name of the company from the register of the companies is sought to be assailed on the ground that the assessment/reassessment proceedings was to result in an addition of ₹ 1,50,500/- (being 0.5% of commission on credits of ₹ 3,01,00,000/-) in the Taxable Income of the company. 9. The Appellant further submitted that Assessment Order dated 28.11.2018 has been passed under section 147 read with section 144 of the Income Tax Act, 1961 which has resulted in creation of demand of ₹ 99,578/- which was required to be paid within 30 days, failing which consequences are to follow in accordance with provisions of Income Tax Act, 1961. As the Respondent Company has failed to furnish its return of income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f section 252(1) as it has to recover taxes payable by respondent company and great prejudice will be caused to Revenue if the name of the respondent company is not restored back. In the above circumstances, this appeal is allowed. The Registrar of companies is therefore directed to restore the name of the Respondent Company in their Register and also proceed to take such other and further penal action against the respondents in accordance with the statutory provisions. The name of the Respondent Company shall then, as a consequence, stand restored to the Register of the Registrar of Companies, as if the name of the company had not been struck off in accordance with Section 248(1) of the Companies Act, 2013. 13. The appeal is disposed of ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
