It is held in M. Smith Plant Hire Ltd. Thus an insurance company which was subrogated to the rights of another insured company was held not to be entitled to maintain an action in the name of the company after the latter had been dissolved".
Even if Spice had filed the, returns, it became incumbent upon the Income tax authorities to substitute the successor in place of the said "dead person". He, however, did not substitute the name of the appellant on record. Instead, the Assessing Officer made the assessment in the name of Spice which was non existing entity on that day. Such a defect cannot be treated as procedural defect. Mere participation by the appellant would be of no effect as there is no estoppels against law.
Khader 60 Comp Case held that framing of assessment against a non-existing entity goes to the root of the matter, which did not constitute a procedural irregularity but a defect.
It was submitted that the AO submitted remand report dated Without prejudice to the above, I am offering my comments on the submissions made by the assessee as follows: 2. The assessees grievance seems to be that an assessment order on a nonexistent assessee which was I.
It may be stated, at the outset, that the objections are not acceptable as the same are unfounded. The reasons for stating so are as under:- i The assessee has filed its return of income for the A.
Financial Year on During the period for which assessment has been made, amalgamation had not taken place. Further, the A. Rs of the assessee during the assessment proceedings informed that the company has amalgamated. The assessment order is in substance and effect is in conformity with intent and purpose of the law, and the amalgamated company was well aware that the assessment was being made upon it in respect of the income of the amalgamating company, I.
After completion of scrutiny assessment, the copy of assessment order and demand notice was served upon the present amalgamated company. It is, thus, clear that the present amalgamated company has participated in assessment proceedings as well as CIT A appeals proceedings taken up by the A. The various decisions relied upon by the A.
This issue may gain significance if the assessee has operated in its original name during a part of the year and has amalgamated thereafter. However, in this case, for the entire financial year AY. Therefore, there should be no scope for any confusion on this account. To cite a few of those decisions, we may refer to the following :- 4. Motor Sales vs. Commissioner of Income-tax ITR All " The short question for consideration is whether the business of the firm was succeeded by the company and whether there was succession within the meaning of section of the Act.
The authorities clearly held that the business of the firm was distinct from the business of the company. Figgies and Co. In this case also, the assessee, a partnership firm, carried on the business and that was converted in the year into a limited company. The Appellate Tribunal and the High Court both held that there was succession within the meaning of section 25 4 of the Indian Income tax Act, , analogous to section of the Act.
For the sake of convenience the place of business of amalgamating I. Flat No. The Supreme Court in the case of C1T vs. Jai Prakash Singh reported in ITR held that "an omission to serve or any defect in the service of notices provided by procedural provisions does not efface or erase the liability to pay tax where such liability is created by distinct substantive provisions, Any such omission or defect may render the order irregular-depending upon the nature of the provision not complied with but certainly not void or illegal", 6.
The question before the Hon? Roshan Lal reported in 1TR was whether the assessment made by the ITO was invalid as framing assessment against a dead person and the directions of the ACIT for reassessment of the assessee was correct.
The Honble High Court has observed that" if proceedings had already been started they can be continued against the legal representatives and even if they had not started against the person can be started against the legal representatives and therefore, if the legal representative or some other person continue to appear or chooses to appear the proceedings become irregular and can.
Anaimugan Transports P I. Even a superior officer who has found that the order has been wrongly made by any authority subject to its appellate or revisional jurisdiction, cannot take away the very doing of the act by him, even they have found that the order was not sustainable.
The Hon"ble High Court has expressed its concern that no honest taxpayer should be asked to pay more, but no one else should be allowed to escape tax by taking recourse to questionable methods. Sundaram Iyengar and Sons ITR , held that the tax on the income for the period between the appointed day and the date of sanction became assessable in the hands of amalgamating company, while payment of tax for the same period was made by the amalgamated company.
None of the provisions of the Companies Act providing for amalgamation, nor any other provision in the Act, confers immunity from payment of tax to either of the entities which are parties to the order of amalgamation.
After the transfer of all assets and liabilities, debts and obligations of the amalgamating company to the amalgamated company in terms of sanction accorded by the company court under Section of the Companies Act, the striking out of the name of the amalgamating company from the register does not wipe out the obligation to comply with an order made by the Income-tax Officer under Section. Ghaziabad vs. Global Pvt.
Corp Global Pvt. ITA No. The A. The omission to mention the name of the amalgamated company in the body of assessment is, in or considered opinion, is fully saved by Section B of the Act.
We find that the assessment, in substance and effect, has been made against amalgamated company in respect of assessment of income of amalgamating company for the period prior to amalgamation and mere omission to mention the name of amalgamated company along with the name of amalgamating company in the body of assessment against the item "Name of the assessee is not fatal to the validity of assessment but is procedural defect covered by Section B of the Act.
Then the question for consideration was as to whether the income prior to the date of amalgamation could be assessed in the hand of amalgamating company on the date when amalgamating company did not remain in existence or it was to be assessed in the hands of amalgamated company as representative of" amalgamating company. As per sub- I. As per sub-section 2 when the predecessor cannot be found, the assessment of income up to the date of succession shall be made on the successor in the like manner and to the same extent as it would have been made on the predecessor.
Scope of Section Section of the Income tax Act, deals with cases of succession in general and can be applied to succession of companies by way of amalgamation. It provides that in a case where predecessor cannot be found the assessment shall be made on the successor transferee company for a the year of succession till the date of succession and b for the year preceding the year of succession.
Sub-section 2 of Section provides that if the predecessor cannot be found then the income shall be assessed on the successor. The purpose of this sub-section is to have the machinery in place for realization of taxes in case predecessor cannot be found. Sub-section 3 complements it by providing for cases where predecessor can be found and has been assessed but tax cannot be realized from him. The issue that requires deliberation is whether the.
The effect of Section is to enable collection of tax from the transferee in case of succession. It does not seem to have the effect of deeming the income earned by predecessor transferor as income of the successor transferee.
Therefore, any finding to treat the income of transferor as income of transferee will probably be outside the legislative framework.
Conclusion I. Thus, I am of the view that the phrase assessed on the successor means that the opportunity of being heard shall be given to successor and machinery for enforcement of tax shall be moved against successor. Therefore, the principle enunciated by Madars High Court Supra can be applied in diverse situations.
In cases where Tribunal or High Court treats the assessment as nullity, it would be difficult for the revenue to collect tax from transferee, in an assessment on transferee framed after annulment of assessment of transferor, even if there is some finding or direction by the Tribunal or Court in the appellate order. In the light of the above, I humbly submit that the additional ground raised by the assessee be dismissed forthwith. Thus, it was claimed that assessment order suffers from an incurable defect and is bad in law which is liable to be quashed.
The assessee also relied upon large number of judicial precedents before learned CIT A to contend that an assessment order is bad in law liable to be quashed and the defect in assessment order by way of framing of an non existent entity is not a curable defect and the assessment is bad in law liable to be quashed. Login to view previous cins. Login to view. Login to view this information. Login to view past directors. We are adding and updating information about hundreds of thousands of companies every day, and periodically add companies to the queue for being updated.
You can ask for a company to be added to the front of the queue for updating, especially useful if the address, directors, or other critical information has changed. Just click on the 'Update Information' button below to start the process. Change of directors Filing of financials Registration of new loans Registration of Debentures Change of Company to LLP Satisfaction of loans Change of Address Application form for change of name Application for Conversion of Public Company into Private Company Notice of the court or the company law board order Conversion of public company into private company or private company into public company Allotment of equity ESOP, Fund raising, etc Return in respect of buy back of securities Letter of Offer Notice of consolidation, division, etc.
Please enter valid URL. Thank you. We will update the website after verifying the website address. Skip to main content. Sign In. Sign Up. Browse Companies by Activity, Age and Location.
PDF 21 October Evidence of cessation PDF 20 August Copy of resolution OCT 17 December Form PDF 14 August List of allottees PDF 24 July Form PDF 24 July Copy of resolution PDF 03 July Evidence of cessation PDF 22 February List of allottees PDF 11 February Evidence of cessation PDF 16 January List of allottees OCT 09 January Details of shareholders PDF 19 December Relevant resolution PDF 19 December Copy of members special resolution approving the proposal along with notice and explanatory statement relating there to PDF 19 December Resolution passed at the general meeting OCT 13 December Form PDF 30 October List of allottees PDF 24 September List of allottees OCT 04 September Form OCT 03 September Form PDF 31 August Copy of resolution PDF 22 June List of allottees OCT 05 June Form PDF 22 May List of allottees PDF 20 April List of allottees PDF 09 April Evidence of cessation PDF 04 April Letter of the charge holder PDF 28 March Evidence of cessation PDF 21 March List of allottees OCT 16 February Form PDF 05 January Letter of the charge holder PDF 08 December XBRL document in respect of consolidated profit and loss account for the financial year ending on PDF 01 December XBRL document in respect of consolidated profit and loss account for the financial year ending on OCT 01 November Details of shareholders PDF 15 September List of allottees PDF 30 August List of allottees OCT 21 August Form PDF 11 August Copy of shareholder resolution PDF 27 January Copy of the resolution authorising the issue of the debenture series PDF 27 January Instrument of creation or modification of charge PDF 25 January Form PDF 25 January Copy of contract- if any PDF 25 January List of allottees PDF 11 June Copy of resolution PDF 23 March Instrument of details of the charge PDF 11 November Copy of resolution PDF 10 November Copy of resolution PDF 15 September Copy of intimation received PDF 23 July Form PDF 28 April Instrument of details of the charge PDF 27 April Instrument of details of the charge PDF 01 April Specific board resolution PDF 01 April Others PDF 25 March Form PDF 25 March Copy of resolution PDF 05 March List of allottees PDF 22 February Relevant resolution PDF 14 January No objection certificate PDF 14 January Others PDF 23 October Copy of intimation received PDF 18 October Copy of shareholder resolution PDF 18 April Instrument of details of the charge PDF 27 March Other Attachments Instrument evidencing creation or modification of charge in case of acquistion of property PDF 27 March Instrument of details of the charge PDF 27 March Copy of the agreement PDF 13 March Specific board resolution PDF 30 January Copy of resolution PDF 30 January Evidence of cessation PDF 30 January Photograph
0コメント