Bombay HC Quashes Reassessment as Section 148 Notice Issued to Non-Existent Entity

Erangal Comtrade And Consultancy LLP Vs ACIT (Bombay High Court) The Bombay High Court examined a challenge to a reassessment notice issued under Section 148 of the Income Tax Act, 1961, against Erangal Comtrade and Consultancy Private Limited, a company that had ceased to exist from 17 March 2016 following its conversion into an LLP. The petitioner LLP argued that the reassessment notice for AY 2017-18, as well as the subsequent draft and final assessment orders, were illegal because they were issued in the name of a non-existent entity. Key undisputed facts showed that the erstwhile company ...