9911796707
TMI Blog2024 (5) TMI 1469X X X X Extracts X X X X X X X X Extracts X X X X ..... sed to exist. The proceedings can be initiated against the assessee-company only when recourse to the revival of the company is taken by the Revenue in accordance with law, substantially affected by such action of the assessee. Paradoxically, the appeal before the Tribunal arises from the first appellate order passed u/s 250 of the Act which, in turn, is based upon incompetent appeal memo signed by a former Director. It is not shown as to how such former director has derived authority in law to pursue appeal before CIT(A) on behalf of a struck off company. The entire first appellate proceedings is thus vitiated and rendered non-est. The captioned appeals before Tribunal arising from the first appellate order passed thus appear to be without ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .2018 Assessment Order under section 153C/144of the Income Tax Act, 1961. 3. ITA No.377/Del/2022 Revenue 2014-15 CIT(A)-29, New Delhi order dated 09.12.2021 Assessment order dated 26.12.2018 Assessment Order under section 153C/144of the Income Tax Act, 1961. 4. ITA No.378/Del/2022 Revenue 2015-16 CIT(A)-29, New Delhi order dated 09.12.2021 Assessment order dated 26.12.2018 Assessment Order under section 153C/144of the Income Tax Act, 1961. 5. ITA No.379/Del/2022 Revenue 2016-17 CIT(A)-29, New Delhi order dated 09.12.2021 Assessment order dated 26.12.2018 Assessment Order under section 153C/144of the Income Tax Act, 1961. 6. CO No.65/Del/2023 Assessee 2012-13 CIT(A)-29, New Delhi order dated 09.12.2021 Assessment order dated 26.12.2018 Asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d w.e.f. 19.01.2017. The ld. counsel pointed out that this fact was also made available before the CIT(A) as recorded in paragraph 11 at page 37 of the first appellate order passed under Section 250 of the Act. The ld. counsel thus submitted that no adverse action could be taken by the AO against a non-existent company by issuing notices to such non-existent company. The ld. counsel also pointed out that the assessment order has been passed exparte under Section 153C r.w. Section 144 of the Act owing to nonexistence of the company. 2.2 On merits, the ld. counsel submitted that the assessee-company is only a conduit company for the purpose of providing accommodation entries by Jain Brothers to various beneficiaries in lieu of cash after char ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... through various dummy / paper companies / firms including assessee company controlled and managed by Jain Brothers to provide accommodation entries, were found. The assessee-company herein was one of the accommodation entry providers at behest of the Jain Group. The ld. CIT-DR also submitted that the assessee also needs to point out the facts about ultimate assessment of large scale accommodation entries unearthed in the course of search of Jain Brothers, a few of which are allegedly routed through the assessee-company. The assessee, a corporate entity, cannot escape the tax liability attributable to such entries on the grounds of a conduit company, unless the revenue has collected the tax thereon from so called beneficiary companies. 4. W ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st. The captioned appeals before Tribunal arising from the first appellate order passed thus appear to be without sanctity of law and outside the realm of adjudication. 5. In view of such glaring deficiencies, no useful purpose would be served by continuing with the present proceedings in the present form. No useful purpose will be served in keeping the captioned appeals pending either. Therefore, the right course, to our mind, will be to consign the present appeals and the Cross objections to the records. Both the sides shall be at liberty to revive the appeals at opportune time as and when the circumstances may warrant. 6. In view of the aforesaid delineations, we dismiss the captioned appeals of the Revenue arising from defective and inc ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
