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Any person discontinuing any business or profession is expected to give to the AO notice of such discontinuance within fifteen days thereof.
Often assessee do not make such compliance and later lend into an unpleasant situation.
Vide ( 2020] 15 ITR-OL 655 (Mad) the assessee for the very first time raised a new ground before the Tribunal stating that the reassessment itself was bad in law and a nullity, since the name of the assessee-company had been struck off the register of companies, even before the assessment order was passed u/s 147. The Tribunal permitted the assessee to raise the ground as an additional ground stating that it went to the very root of the matter and issued a remand .
In cancelling the remand order by the tribunal the Madras High Court held that the assessee is not permitted to canvass a factual issue for the first time before the Tribunal albeit it go to the root of the matter given the directive in section 176 for intimation to AO of discontinuance of business . In this case the name of the assessee-company was struck off from the register of companies in may 2007 being earlier to completion of reassessment in December 2007.

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