HCP Petrochem Pvt. Ltd, Through I.P. India Pvt. Ltd. (Now known as Adhunik Technology Pvt. Ltd.), New Delhi V. ACIT, New Delhi

ITA 2308/DEL/2016

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 3121 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 7 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-12-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: G
• Next Hearing Date: 17-04-2017
• Assessment Year: 2012-2013
• Appeal Filed On: 28-04-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S S RANA
• Keywords: Procedural lapse; Scheme of amalgamation
• Section: 143(3); 144

Judgement Text

PAGE | 1 INCOME TAX APPELLATE TRIBUNAL DELHI BENCH G : NEW DELHI BEFORE SHRI H.S.SIDHU , JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA NO. 2308/DEL/2016 (ASSESSMENT YEAR: 2012 - 13 ) HCP PETROCHEM PVT. LTD, THROUGH IP INDIA PVT. LTD, (NOW KNOWN AS ADHUNIK TECHNOLOGY PVT. LTD, C/O. KAPIL GOEL, ADV F - 36/124, SECTOR - 7, ROHNI, NEW DELHI PAN:AABCI0760K VS. ACIT, CENTRAL CIRCLE - 18, NEW DELHI (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI KAPIL GOEL, ADV REVENUE BY: SHRI SS RANA, CIT DR DATE OF HEARING 21/ 09/2017 DATE OF PRONOUNCEMENT 1 3 / 1 2 /2017 O R D E R PER PRASHANT MAHARISHI , A. M. 1. THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LD CIT(A) - 27, NEW DELHI DATED 12.02.2016 FOR THE ASSESSMENT YEAR 2012 - 13. 2. THE ASSESSEE HAS RAISED THE FOLLOWING GROUNDS OF APPEAL: - 1. THAT ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW, LD CIT(A) ERRED IN NOT ALLOWING THE JURISDICTIONAL GROUND THAT INSTANT ASSESSMENT MADE ON NON EXISTING COMPANY IS NULLITY IN EYES OF LAW WHICH HAS BEEN AMALGAMATED BY HON'BLE HIGH COURT ORDER DATED 10.10.2013 (APPOINTED DATED 01.04.2012). 1.1 THAT ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE AND IN LAW, LD CIT(A) ERRED I N NOT ALLOWING THE JURISDICTIONAL GROUND THAT INSTANT ASSESSMENT MADE ON NON EXISTING COMPANY IS NULLITY IN EYES BESIDES THE FACT THAT SAID FACT WAS DULY INTIMATED TO LD AO DURING ASSESSMENT PROCEEDINGS AND SAME IS ALSO FILED TO ROC. 3. THE ASSESSEE COMPANY FILED ITS RETURN OF INCOME ON 04.12.2012 FOR RS. 501913/ - . DURING THE ASSESSMENT PROCEEDINGS AN ADDITION OF RS. 19204600/ - WAS MADE TO THE I N COME OF THE ASSESSEE ON ACCOUNT OF UNEXPLAINED SUNDRY CREDITORS AND ASSES S MENT WAS FRAMED ON 25.02.2015 U/S 144 OF THE ACT ASSESSED INCOME OF RS. 192548513/ - . THE LD ASSESSING OFFICER PASSED AN ASSESSMENT ORDER IN THE NAME OF THE ( HCP PETROCHEM PVT. LTD, THROUGH IP INDIA PVT. LTD, (NOW KNOWN AS ADHUNIK TECHNOLOGY PVT. LTD) ) . HCP PETROCHEM PVT. LTD, THROUGH IP INDIA PVT. LTD, VS. ACIT, ITA NO. 2308/DEL/2016 (ASSESSMENT YEAR: 2012 - 13) PAGE | 2 4. THE ABOVE COMPANY GOT MERGED WITH M/S. I P INDIA PVT. LTD AS PER THE SCHEME OF AMALGAMATION IN COMPANY PETITION NO. 317/2013 ALONG WITH SEVERAL OTHER COMPANIES VIDE ORDER DATED 10.10.2013 OF THE HON'BLE DELHI HIGH COURT. THE APPOINTED DATE AS PER THE ORDER OF THE HON'BLE DELHI HIGH COURT ON 1 ST A PRIL 2012 . 5. THE ASSESSEE AGITATED THE APPEAL AGAINST THE ORDER OF THE LD AO BEFORE THE LD CIT(A) WHO VIDE ORDER DATED 12.02.2016 DISMISSED ON MERITS THE APPEAL OF THE ASSESSEE. HOWEVER, THE GROUND NO. 2 OF THE APPEAL OF THE ASSESSEE BEFORE THE LD CIT(A) CO NTESTING THAT ASSESSMENT ORDER PASSED BY THE LD ASSESSING OFFICER ON NON EXISTING COMPANY WAS NOT DISPOSED OFF. THEREFORE, THE ASSESSEE IS IN APPEAL BEFORE US. 6. THE LD AUTHORISED REPRESENTATIVE SUBMITTED THAT THE ORDER IS PASSED BY THE LD ASSESSING OFFICE R IN THE NAME OF THE COMPANY WHICH HAS MERGED WITH ANOTHER COMPANY AND NOW CHANGED ITS NAME. IT WAS FURTHER STATED THAT THE ISSUE IS SQUARELY COVERED IN FAVOUR OF THE ASSESSEE BY THE DECISION OF HON'BLE DELHI HIGH COURT IN CASE OF B DR BUILDERS AND DEVELOPE RS LTD. DATED 09.01.2017. IT WAS FURTHER STATED THAT THE ISSUE IS FURTHER COVERED BY THE DECISION OF THE COORDINATE BENCHES IN CASE OF SEVERAL OTHER PARTIES WHO WERE ALSO PART OF AMALGAMATION. HE ALSO STATED THAT INTIMATION OF MERGER WAS GIVEN TO THE LD AS SESSING OFFICER VIDE LETTER DATED 12.12.2014 FILED BEFORE THE LD ASSESSING OFFICER ON 15.12.2014. THEREFORE, ACCORDING TO HIM ON THE DATE OF THE PASSING OF THE ORDER ON 25.02.2015 THE AO WAS AWARE ABOUT THE FULL FACT OF THE MERGER. HE THEREFORE, SUBMITTED THAT ISSUE IS SQUARELY COVERED IN FAVOUR OF THE ASSESSEE AND ORDER OF AO IS NOT SUSTAINABLE . 7. THE LD DEPARTMENTAL REPRESENTATIVE VEHEMENTLY CONTESTED THE ARGUMENT OF THE LD AUTHORISED REPRESENTATIVE AND SUBMITTED THAT ASSESSEE HAS FILED APPEAL BEFORE THE LD CIT(A) AND ITAT IN THE SIMILAR MANNER IN WHICH THE ASSESSMENT ORDER IS PASSED. HE FURTHER RELIED ON THE DECISION OF THE HONBLE CALCULTA HIGH COURT IN CIT VS. SHAWWALLACE DISTILLERIES LTD DATED 06.06.2016 TO SUBMIT THAT WHEN THE ASSESSEE HAS FILED THE R ETURN OF INCOME IN ITS OWN CAPACITY THEN ASSESSMENT ORDER PASSED BY THE AO CANNOT BE HELD TO BE NULLITY. 8. WE HAVE CAREFULLY CONSIDERED THE RIVAL CONTENTIONS AND ALSO PERUSED THE ORDERS OF THE LD ASSESSING OFFICER WHERE HE HAS PASSED THE ORDER U/S 143(3) RE AD WITH SECTION 144 OF THE ACT ON THE ABOVE COMPANY WHICH WAS MERGED WITH IP INDIA LTD AND WHOSE NAME WAS LATER ON CHANGED TO ADHUNIC TECHNOLOGY PVT. LTD. THE HON'BLE DELHI HIGH COURT IN ITS DECISION DATED 04.09.2007 IN CASE OF PR. CIT VS. MARUTI SUZUKI IN DIA LTD (SUCCESSOR OF SUZUKI POWER TRAIN INDIA LTD.) IN ITA NO. 65/2017 HAS HELD ON IDENTICAL FACTS THAT ASSESSMENT ORDER IS NOT TENABLE IF IT IS PASSED IN THE NAME OF NON - EXISTENT COMPANY WHEN THE LD ASSESSING OFFICER PASSED THE ASSESSMENT ORDER IN HCP PETROCHEM PVT. LTD, THROUGH IP INDIA PVT. LTD, VS. ACIT, ITA NO. 2308/DEL/2016 (ASSESSMENT YEAR: 2012 - 13) PAGE | 3 M/S. SUZUKI POWERTAIN INDIA LTD (AMALGAMATED WITH M/S. MARUTI SUZUKI INDIA LTD), PLOT NO. 1, NELSON MANDELA ROAD, VASANT KUNJ, NEW DELHI - 110070 9. THE HON'BLE HIGH COURT HELD AS UNDER: - 8. MSIL FILED AN APPEAL BEFORE THE ITAT WHERE ONE OF THE GROUNDS URGED WAS THAT THE ASSESSMENT ORDER WAS WITHOUT JURISDICTION INASMUCH AS IT HAD BEEN PASSED IN THE NAME OF AN ENTITY THAT CEASED TO EXIST ON THE DATE OF THE ASSESSMENT ORDER. THE ITAT ACCEPTED THE ABOVE PLEA OF THE RESPONDENT - MSIL, AS A RESULT OF WHICH THE ASS ESSMENT ORDER WAS SET ASIDE. 9. ON THE STRENGTH OF THE DECISION OF THE SUPREME COURT IN KULDEEP KUMAR DUBEY V. RAMESH CHANDRA GOYAL [2015] 3 SCC 525, MR. ASHEESH JAIN, LEARNED SENIOR STANDING COUNSEL FOR THE REVENUE, URGES THAT IN THE PRESENT CASE THE ERROR, IF AT ALL, WAS A MERE MISDESCRIPTION OF THE PARTY IN THE ASSESSMENT ORDER AND NOTHING MORE. THIS COULD NOT RESULT IN THE ASSESSMENT ORDER ITSELF BEING SET ASIDE. HE FURTHER SUBMITS THAT THE RECORD OF THE ASSESSMENT PROCEEDINGS SHOWS THAT MSIL PARTIC IPATED IN IT FULLY AND RAISED NO OBJECTION AS TO THE CONTINUATION OF THE PROCEEDINGS ON THE GROUND OF LACK OF JURISDICTION. MR JAIN INVOKES SECTION 292B OF THE ACT TO URGE THAT THE ASSESSEE IS PRECLUDED FROM QUESTIONING THE ASSESSMENT ORDER ON THE GROUND T HAT IT WAS PASSED IN THE NAME OF A NON - EXISTENT ENTITY. HE POINTS OUT THAT BELOW THE NAME OF THE AMALGAMATING COMPANY, THE AO HAS TAKEN CARE TO MENTION THAT IT HAS SINCE BEEN AMALGAMATED WITH MSIL. 10. IN REPLY, MR. AJAY VOHRA, LEARNED SENIOR COUNSEL FOR THE ASSESSEE, HAS DRAWN THE ATTENTION OF THE COURT TO A LONG LINE OF DECISIONS INCLUDING SARASWATI INDUSTRIAL SYNDICATE LTD. V. CIT [1990] 186 ITR 278/53 TAXMAN 92 (SC) AND SPICE INFOTAINMENT LTD. V. CIT [2012] 247 CTR (DEL) 500 WHEREIN AN IDENTICAL QUESTI ON HAS BEEN ANSWERED IN FAVOUR OF THE ASSESSEE AND AGAINST THE REVENUE. MR. VOHRA POINTS OUT THAT FOR THE PURPOSES OF SECTION 170 (2) OF THE ACT, TWO ASSESSMENT ORDERS WILL HAVE TO BE PASSED: ONE IN THE NAME OF MSIL ITSELF FOR THE AY IN QUESTION AND THE OT HER AGAIN IN THE NAME OF MSIL INDICATING THAT THE SAID ASSESSMENT ORDER IS BEING PASSED UNDER SECTION 170 (2) OF THE ACT IN RESPECT OF ITS TAX LIABILITY AS SUCCESSOR IN INTEREST OF THE AMALGAMATING COMPANY. 11.1 IN SPICE INFOTAINMENT LTD. (SUPRA), THE ISS UE THAT AROSE WAS IN THE CONTEXT OF THE AO HAVING FRAMED THE ASSESSMENT IN THE NAME OF 'SPICE CORP LIMITED' AFTER THE SAID ENTITY STOOD DISSOLVED CONSEQUENT TO ITS AMALGAMATION WITH 'MCORP PRIVATE LIMITED' WITH EFFECT FROM 1ST JULY, 2003. LIKE IN THE PRESE NT CASE, EVEN THERE IT WAS URGED BY THE REVENUE THAT THIS WAS A PROCEDURAL DEFECT. IT WAS ALSO URGED BY THE REVENUE THAT SINCE THE AMALGAMATED ENTITY HAD PARTICIPATED IN THE ASSESSMENT PROCEEDINGS WITHOUT RAISING ANY OBJECTION, IT SHOULD BE PRECLUDED FROM RAISING IT THEREAFTER. 11.2 THE TWO QUESTIONS FRAMED BY THIS COURT IN SPICE INFOTAINMENT LTD.'S CASE (SUPRA) WERE AS UNDER: '(I) WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE TRIBUNAL ERRED IN LAW IN HOLDING THAT THE ACTION OF THE ASSESSING OFFICER IN FRAMING ASSESSMENT HCP PETROCHEM PVT. LTD, THROUGH IP INDIA PVT. LTD, VS. ACIT, ITA NO. 2308/DEL/2016 (ASSESSMENT YEAR: 2012 - 13) PAGE | 4 IN THE NAME OF 'SPICE CORP LTD', AFTER THE SAID ENTITY STOOD DISSOLVED CONSEQUENT UPON ITS AMALGA MATION WITH MCORP PRIVATE LIMITED W.E.F. 01.07.2003, WAS A MERE 'PROCEDURAL DEFECT'? (II) WHETHER ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE TRIBUNAL ERRED IN LAW IN HOLDING THAT IN VIEW OF THE PROVISIONS OF SECTION 292B OF THE ACT, THE ASSES SMENT, HAVING IN SUBSTANCE AND EFFECT, BEEN FRAMED ON THE AMALGAMATED COMPANY WHICH COULD NOT BE REGARDED AS NULL AND VOID?' 11.3 THIS COURT, IN SPICE INFOTAINMENT LTD.'S CASE (SUPRA) DISCUSSED AND NOTED THE FOLLOWING OBSERVATIONS IN THE DECISION OF THE SU PREME COURT IN SARASWATI INDUSTRIAL SYNDICATE LTD.'S CASE (SUPRA): 'GENERALLY, WHERE ONLY ONE COMPANY IS INVOLVED IN CHANGE AND THE RIGHTS OF THE SHARE HOLDERS AND CREDITORS ARE VARIED, IT AMOUNTS TO RECONSTRUCTION OR REORGANISATION OR SCHEME OF ARRANGEME NT. IN AMALGAMATION TWO OR MORE COMPANIES ARE FUSED INTO ONE BY MERGER OR BY TAKING OVER BY ANOTHER. RECONSTRUCTION OR AMALGAMATION HAS NO PRECISE LEGAL MEANING. THE AMALGAMATION IS A BLENDING OF TWO OR MORE EXISTING UNDERTAKINGS INTO ONE UNDERTAKING, THE SHARE HOLDERS OF EACH BLENDING COMPANY BECOME SUBSTANTIALLY THE SHARE HOLDERS IN THE COMPANY WHICH IS TO CARRY ON THE BLENDED UNDERTAKINGS. THERE MAY BE AMALGAMATION EITHER BY THE TRANSFER OF TWO OR MORE UNDERTAKINGS TO A NEW COMPANY, OR BY THE TRANSFER OF ONE OR MORE UNDERTAKINGS TO AN EXISTING COMPANY. STRICTLY AMALGAMATION DOES NOT COVER THE MERE ACQUISITION BY A COMPANY OF THE SHARE CAPITAL OF OTHER COMPANY WHICH REMAINS IN EXISTENCE AND CONTINUES ITS UNDERTAKING BUT THE CONTEXT IN WHICH THE TERM IS USE D MAY SHOW THAT IT IS INTENDED TO INCLUDE SUCH AN ACQUISITION. SEE HALSBURYS LAWS OF ENGLAND 4TH EDITION VOL. 7 PARA 1539. TWO COMPANIES MAY JOIN TO FORM A NEW COMPANY, BUT THERE MAY BE ABSORPTION OR BLENDING OF ONE BY THE OTHER, BOTH AMOUNT TO AMALGAMATIO N. WHEN TWO COMPANIES ARE MERGED AND ARE SO JOINED, AS TO FORM A THIRD COMPANY OR ONE IS ABSORBED INTO ONE OR BLENDED WITH ANOTHER, THE AMALGAMATING COMPANY LOSES ITS ENTITY.' 11.4 THE COURT IN SPICE INFOTAINMENT LTD.'S CASE (SUPRA) THEREAFTER HELD AS UND ER: '11. AFTER THE SANCTION OF THE SCHEME ON 11TH APRIL, 2004, THE SPICE CEASES TO EXIT W.E.F. 1ST JULY, 2003. EVEN IF SPICE HAD FILED THE RETURNS, IT BECAME INCUMBENT UPON THE INCOME TAX AUTHORITIES TO SUBSTITUTE THE SUCCESSOR IN PLACE OF THE SAID 'DEAD PERSON. WHEN NOTICE UNDER SECTION 143 (2) WAS SENT, THE APPELLANT/AMALGAMATED COMPANY APPEARED AND BROUGHT THIS FACT TO THE KNOWLEDGE OF THE AO. HE, HOWEVER, DID NOT SUBSTITUTE THE NAME OF THE APPELLANT ON RECORD. INSTEAD, THE ASSESSING OFFICER MADE THE AS SESSMENT IN THE NAME OF M/S SPICE WHICH WAS NON EXISTING ENTITY ON THAT DAY. IN SUCH PROCEEDINGS AND ASSESSMENT ORDER PASSED IN THE NAME OF M/S SPICE WOULD CLEARLY BE VOID. SUCH A DEFECT CANNOT BE TREATED AS PROCEDURAL DEFECT. MERE PARTICIPATION BY THE APP ELLANT WOULD BE OF NO EFFECT AS THERE IS NO ESTOPPEL AGAINST LAW.' 11.5 CONSEQUENTLY, THE AFORESAID TWO QUESTIONS WERE ANSWERED IN FAVOUR OF THE ASSESSEE AND AGAINST THE REVENUE. 12. EVEN THEREAFTER THE REVENUE HAS REPEATEDLY BROUGHT THE SAID ISSUE BEFOR E THIS COURT IN A LARGE NUMBER OF CASES WHERE, IN MORE OR LESS IDENTICAL CIRCUMSTANCES, THE AO HAD PASSED THE ASSESSMENT ORDER IN THE NAME OF THE ENTITY THAT HAD CEASED TO EXIST AS ON THE DATE OF THE ASSESSMENT ORDER. IN MANY OF THESE CASES, AS IN THE PRES ENT CASE, HCP PETROCHEM PVT. LTD, THROUGH IP INDIA PVT. LTD, VS. ACIT, ITA NO. 2308/DEL/2016 (ASSESSMENT YEAR: 2012 - 13) PAGE | 5 THE AO, AFTER MENTIONING THE NAME OF THE AMALGAMATING COMPANY AS THE ASSESSEE, MENTIONED BELOW IT THE NAME OF THE AMALGAMATED COMPANY. ILLUSTRATIVELY THE CASES ARE: (I) CIT V MICRA INDIA (P.) LTD. [2015] 231 TAXMAN 809/57 TAXMANN.COM 163 (DEL) ; (II) CIT V. MICRON STEELS (P.) LTD. [2015] 372 ITR 386/233 TAXMAN 120/59 TAXMANN.COM 470 (DEL) (III) CIT V. DIMENSION APPARELS (P.) LTD. [2015] 370 ITR 288/[2014] 52 TAXMANN.COM 356 (DEL) (IV) BDR BUILDERS & DEVELOPERS (P.) LTD. V. ASSTT. CIT (DECI SION DATED 26TH JULY 2017 PASSED BY THIS COURT IN W.P.(C) NO. 2712 OF 2016) 13. THE QUESTION WHETHER, FOR THE PURPOSES OF SECTION 170 (2) OF THE ACT, THE DEFECT OF PASSING THE ASSESSMENT ORDER IN THE NAME OF AN NON - EXISTENT ENTITY IS A MERE IRREGULARITY WA S ANSWERED BY THIS COURT IN DIMENSION APPARELS (P.) LTD. (SUPRA), WHERE IN PARAS 6 AND 7 IT WAS HELD AS UNDER: '6. SECTIONS 170(1) AND 170(2) OF THE ACT DO NOT ASSIST THE REVENUE IN THEIR CASE. THE REVENUE DOES NOT CONTEST THAT IN A CASE OF AMALGAMATION, THE PREDECESSOR (BEING A DISSOLVED COMPANY) 'CANNOT BE FOUND'. CONSEQUENTLY, SECTION 170(2) APPLIES. THIS PROVISION CLARIFIES THAT WHERE THE PREDECESSOR CANNOT BE FOUND, 'THE ASSESSMENT OF THE INCOME OF THE PREVIOUS YEAR IN WHICH THE SUCCESSION TOOK PLACE UP TO THE DATE OF THE SUCCESSION AND OF THE PRECIOUS YEAR PRECEDING THAT YEAR SHALL BE MADE ON THE SUCCESSOR IN LIKE MANNER AND TO THE SAME EXTENT AS IT WOULD HAVE BEEN MADE ON THE PREDECESSOR.' (EMPHASIS SUPPLIED) 7. THE REVENUE SEEMS TO ARGUE THAT THE ASSESSMENT IS JUSTIFIED BECAUSE THE LIABILITIES OF THE AMALGAMATING COMPANY ACCRUE TO THE AMALGAMATED (TRANSFEREE) COMPANY. WHILE THAT IS TRUE, THE QUESTION HERE IS WHICH ENTITY MUST THE ASSESSMENT BE MADE ON. THE TEXT OF SECTION 170(2) MAKES IT CLEAR THAT THE ASSESSMENT MUST BE MADE ON THE SUCCESSOR (I.E., THE AMALGAMATED COMPANY).' 14. THE SUBMISSION THAT UNDER SECTION 292B OF THE ACT, THE SUCCESSOR - IN - INTEREST IS PRECLUDED FROM RAISING AN OBJECTION IF IT HAS PARTICIPATED IN THE ASSESSMENT PROCEEDINGS W AS NEGATIVE IN SPICE INFOTAINMENT LTD.'S CASE (SUPRA) WHERE IT WAS HELD: '...ONCE IT IS FOUND THAT THE ASSESSMENT IS FRAMED IN THE NAME OF A NON - EXISTENT ENTITY IT DOES NOT REMAIN A PROCEDURAL IRREGULARITY OF THE NATURE WHICH COULD BE CURED BY INVOKING THE PROVISIONS OF SECTION 292 - B OF THE ACT.' 15. ON THE ISSUE OF PARTICIPATION, THE COURT DIMENSION APPARELS (P.) LTD.'S (SUPRA) OBSERVED: '22. ON THE LAST CONTENTION, I.E WITH RESPECT TO PARTICIPATION BY THE PREVIOUS ASSESSEE, I.E THE AMALGAMATING COMPANY (WHICH CEASES TO EXIST), AGAIN SPICE (SUPRA) IS CATEGORICAL; IT WAS RULED ON THAT OCCASION THAT SUCH PARTICIPATION BY THE AMALGAMATED COMPANY IN PROCEEDINGS DID NOT CURE THE DEFECT, BECAUSE 'THERE CAN BE NO ESTOPPEL IN LAW.' VIVED MARKETING SERVICING PVT. LTD., (SUPRA) HAD ALSO REACHED THE SAME CONCLUSION.' HCP PETROCHEM PVT. LTD, THROUGH IP INDIA PVT. LTD, VS. ACIT, ITA NO. 2308/DEL/2016 (ASSESSMENT YEAR: 2012 - 13) PAGE | 6 16. THE LEGAL POSITION HAVING BEEN MADE ABUNDANTLY CLEAR IN THE ABOVE DECISIONS, THE COURT HAS NO HESITATION IN ANSWERING THE QUESTION FRAMED IN THE NEGATIVE, I.E. IN FAVOUR OF THE ASSESSEE AND AGAINST THE REVENUE. 10. THE ORDER PASSED IN CASE OF THE ASSESSEE IS ALSO IN THE NAME OF HCP PETROCHEM PVT. LTD, THROUGH IP INDIA PVT. LTD, (NOW KNOWN AS ADHUNIK TECHNOLOGY PVT. LTD, 11. THEREFORE, RESPECTFULLY FOLLOWING THE DECISION OF THE HON'BLE DELHI HIGH COURT WE ALSO HOLD THAT IN THE CIRCUMSTANCES OF THE CASE THE ABOVE ASSESSMENT ORDER WAS NOT TENABLE FOR HAVING BEEN FRAMED IN THE NAME OF A NON - EXISTENT COMPANY. IN THE RESULT APPEAL FILED BY THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 1 3 / 1 2 /2017. - S D / - - S D / - ( H.S.SIDHU ) (PRASHANT MAHARISHI) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 1 3 / 1 2 /2017 A K KEOT COPY FORWARDED TO 1. APPLICANT 2. RESPONDENT 3. CIT 4. CIT (A) 5. DR:ITAT ASSISTANT REGISTRAR ITAT, NEW DELHI