HAPPY SUPPLIERS PVT. LTD., (MERGED WITH RISHI SECURITIES & FINANCE PRIVATE LIMITED),KOLKATA vs. ACIT, CENTRAL CIRCLE 3(1),, KOLKATA

ITA 2578/KOL/2025Status: DisposedITAT Kolkata12 February 2026AY 2021-2022Bench: Shri Rajesh Kumar (Accountant Member), Shri Pradip Kumar Choubey (Judicial Member)1 pages
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What did the Tribunal hold?

The tribunal held that the assessment orders passed for AY 2016-17 and AY 2021-22 were void ab initio and quashed them. This was because the assessment orders were passed in the name of the company (Happy Suppliers Pvt Ltd) which had ceased to exist after its amalgamation with Rishi Securities & Finance Private Limited, effective from 01.04.2022.

What were the facts?

The assessee, Happy Suppliers Pvt. Ltd, filed returns declaring NIL income. A search operation led to the issuance of notices under section 148. The Assessing Officer (AO) issued a show cause notice regarding differences in stamp duty value, source of cash payment for property acquisition, and cash receipts. The AO made additions under sections 69 and 69A. The assessee's appeal before the CIT(A) was dismissed due to non-compliance.

What were the issues?

Whether the assessment orders passed in the name of a company that had already merged/ceased to exist were valid and not void ab initio.

Which sections of the Income-tax Act were involved?

Section 250,Section 132,Section 148,Section 143(2),Section 142(1),Section 56(2)(x),Section 69,Section 69A,Section 147,Section 170A,Section 144C(1),Section 143(3)

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Income Tax Appellate Tribunal, “B” BENCH KOLKATA

Before: Shri Rajesh Kumar & Shri Pradip Kumar Choubey

Per Pradip Kumar Choubey, Judicial Member:

Both the present appeals have been preferred by the assessee against separate orders dated 08.09.25 & 28.08.2025 of the Commissioner of Income Tax (Exemption)-21, Kolkata [hereinafter referred to as ‘CIT(E)’] u/s 250 of the Income Tax Act (hereinafter referred to as the ‘Act’) respectively. Since both the appeals relate to the assessee and facts are similar, theref

The order continues below.

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