Genpact India Pvt Ltd Vs DCIT (ITAT Delhi)
ITAT Delhi held that assessment framed in the name of non-existing entity cannot be cured by invoking the provisions of section 292B of the Income Tax Act. Accordingly, assessment order set aside.
Facts- Assessee has preferred the present appeal mainly contesting that CIT(A) has erred in upholding the assessment order passed by AO disregarding the fact that the same was passed on non-existing entity. Notably, the assessment order wherein the assessment order was passed mentioning the name of the assessee as Genpact India (now merged with Genpact India Private Limited).
Conclusion- Held that once it is found that assessment is framed in the name of non-existing entity, it does not remain a procedural irregularity of the nature which could be cured by invoking the provisions of Section 292B of the Act. Hence, the Assessment order itself are void ab initio. Therefore, assessment order is set aside.
Also held that with regard to Department’s appeal, since we quash the assessment order itself as void ab initio the grounds raised by the Revenue becomes infructuous. Accordingly, the appeal filed by the Revenue is dismissed. In the result, the appeal filed by the assessee is allowed and the appeal filed by the Revenue is dismissed.
