On appeal the Court held that on plain reading of Subsection (7) along with Subsection 31 of Section 2 observed held that the Assessee to be assessed for income tax u/s 143 of the Income Tax Act must be a person in existence. Indisputably, a company is a juridical person but the moment it is struck off from the Register of Companies and is dissolved, it ceases to exist. Making of an assessment order against a non-existent company would be like passing a decree by a civil court against a dead person. Such an order of assessment made against a non-existent entity would be a nullity and would not give rise to any right or liability under such assessment order. (AY. 2004-05)