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The Tax PublishersITA No. 371/Kol/2020
2021 TaxPub(DT) 0805 (Kol-Trib)INCOME TAX ACT, 1961
Section 263
The order passed by PCIT under section 263 was liable to be quashed as the same having been passed in the name of a non-existent entity which had already merged / amalgamated.
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Revision under section 263 - Validity - Proceedings initiated in the name of non-existent entity -
Assessee challenged the validity of the impugned order passed by Pr. CIT under section 263 on the ground that the same having been passed in the name of a non-existent entity which had already merged/amalgamated was bad in law. Held: The decision of Calcutta High Court in the case of CIT v. Aarcee Holdings Pvt. Ltd. dt. 10-9-2014 was squarely applicable to the facts of the present case and following the same, the impugned order passed by Pr. CIT under section 263 in the name of a non-existent entity which stood already merged/amalgamated was invalid.
Followed:CIT v. Aarcee Holdings Pvt. Ltd. dt. 10-9-2014.
REFERRED :
FAVOUR : In favour of assessee.
A.Y. : 2015-16
IN THE ITAT, KOLKATA BENCH
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