Dismissing the petition the Court held that ; notice issued in the name of a company which does not exist upon its conversion into a LLP is valid if there is material to show that the issue in the name of the company was a clerical mistake. The object and purpose behind S.292B is to ensure that technical pleas on the ground of mistake, defect or omission should not invalidate the assessment proceedings, when no confusion or prejudice is caused due to non-observance of technical formalities. The Court also observed that, in the peculiar facts of this case, we are convinced that wrong name given in the notice was merely a clerical error which could be corrected under S. 292B of the Income- tax Act. ( SLP No. 7409/2018, dt. 02.02.2018) ( AY. 2010-11)
Skylight Hospitality LLP v. ACIT( 2018) 254 Taxman 390/ 166 DTR 421 / 303 CTR 130 (SC) , www.itatonline.org Editorial. Order in Skylight Hospitality LLP v. ACIT ( 2018) 254 Taxman 109/ 166 DTR 409/ 303 CTR 131 ( Delhi) (HC) is affirmed
S. 147 : Reassessment –Clerical mistake- The object and purpose behind S. 292B is to ensure that technical pleas on the ground of mistake, defect or omission should not invalidate the assessment proceedings, when no confusion or prejudice is caused due to non-observance of technical formalities [ S. 148, 292B ]