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Showing contexts for: nonexistent entity in M/S R R Gold Palace , Bangalore vs Deputy Commissioner Of Income Tax ... on 31 August, 2020Matching Fragments
However, the A.O. has justified the conduct of the search against the appellant firm pointing out that the appellant firm before its dissolution was carrying on business in the very same premises that was searched and therefore, the search conducted and relevant assessments are in accordance with law. It has been pointed out that the appellant firm had to be assessed for the period it was in existence.
5.7 I do not intend to go into the question of whether the search conducted against a non-existent firm would be in accordance with the provisions of section 132 of the Act or not. However, I find that there is sufficient clarity on the legal issue relating to the assessment order being framed on a nonexistent entity and several judgements have been cited by the appellant on this point. It has been held by the Hon'ble Delhi High Court in the case of SPICE INFOTAINMENT LIMITED in 247 CTR 500 [Del] as under :