VARAM CAPITAL PVT. LTD.,CHENNAI vs. DCIT, CORP. CIRCLE-3(1), CHENNAI

ITA 1222/CHNY/2025Status: DisposedITAT Chennai01 September 2025AY 2017-18Bench: SHRI MANU KUMAR GIRI (Judicial Member), SHRI HON'BLE S.R. RAGHUNATHA (Accountant Member)1 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that an assessment order passed in the name of a non-existent entity after its liquidation is void ab initio. Following various Supreme Court and High Court decisions, the assessment order was deemed unsustainable.

What were the facts?

The assessee company, Varam Capital Pvt. Ltd., was liquidated by order of the National Company Law Tribunal on July 9, 2020. Despite this, an assessment order was passed on March 30, 2023, in the name of the non-existent company. The assessee raised this as an additional ground of appeal.

What were the issues?

Whether an assessment order passed against a company that has been liquidated is valid. The core issue is the jurisdiction of the Assessing Officer to assess a non-existent entity.

Which sections of the Income-tax Act were involved?

Section 68,Section 144,Section 263

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Income Tax Appellate Tribunal, ‘D’ BENCH: CHENNAI

Before: HON’BLE SHRI MANU KUMAR GIRI & SHRI HON’BLE S.R. RAGHUNATHA

Hearing: 03.07.2025Pronounced: 01.09.2025

PER MANU KUMAR GIRI (Judicial Member): The captioned appeal filed by the assessee is directed against order of the Ld. Commissioner of Income Tax (Appeals) (NFAC), Delhi [CIT(A)] dated 17.02.2025 for Assessment Year 2017-18. 2. The assessee has raised the following legal grounds of appeal:

1.

For that the order of the National Faceless Appeal Centre is contrary to law, facts and circumstances of th

The order continues below.

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