Revisionary proceedings initiated in the name of non-existent entity is invalid

Madhuban Dealers Pvt. Ltd. Vs PCIT (ITAT Kolkata) ITAT Kolkata held that revisionary proceedings u/s. 263 initiated in the name of non-existent entity, despite the fact that private limited company was converted into LLP and the conversion was brought to the knowledge of AO, is void ab initio and invalid. Facts- Assessee filed its return declaring a total loss of Rs.6,04,635/-. The return was originally processed u/s. 143(1) of the Act. Thereafter, the case of the assessee was reopened u/s. 147 of the Act on the basis of information received from Investigation Wing that the assessee is benefi...