ITAT Chennai Quashes Income Tax Assessment on Non-Existent Company

IBS Software Pvt. Ltd Vs ACIT (ITAT Cochin) ITAT, Chennai: Quashes final assessment order as passed in the name of a non-existing company; follows assessee’s earlier order Facts: The assessee, IBS Software Pvt. Ltd., is engaged in the business of development and sale of computer software. For the Assessment Year 2014–15, the assessee filed its return of income on 28 November 2014 and subsequently filed a revised return on 31 March 2016. The return of income was selected for scrutiny, and during the course of assessment proceedings, it was noticed that the assessee had entered into interna...