NALCO COMPANY,PUNE vs. ASSISTANT COMMISSIONER OF INCOME-TAX, (IT), CIRCLE-2, PUNE

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ITA 1775/PUN/2018Status: DisposedITAT Pune05 February 2021AY 2011-124 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal quashed the revisionary orders passed under Section 263. As the foundation for the assessments no longer existed, the assessment orders were set aside.

What were the facts?

The assessee filed appeals against final assessment orders for AY 2011-12 and 2012-13. These assessments stemmed from revisionary orders passed by the CIT under Section 263.

What were the issues?

The primary issue was the validity of assessment orders that were based on revisionary orders which were subsequently quashed.

Which sections of the Income-tax Act were involved?

Section 144C,Section 143(3),Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCH “C”, PUNE

Before: SHRI R.S. SYAL & SHRI S.S. VISWANETHRA RAVI

For Appellant: Shri Ketan Ved
For Respondent: Smt. Amrita Misra

Assessee by Shri Ketan Ved Revenue by Smt. Amrita Misra Date of hearing 02-02-2021 Date of pronouncement 05-02-2021 आदेश / ORDER PER R.S.SYAL, VP : These two appeals by the assessee are directed against the final Assessment orders dated 18-09-2018 and 31-07-2019 passed by the Assessing Officer (AO) u/ss.144C(13)/143(3)

1591 of 2019 Nalco Company read with section 263 of the Income-tax Act, 1961 (hereinafter also called ‘the Act’) in relation to the assessment years 2011- 12 and 2012-13 respectively.

2.

We have heard the rival submissions and gone through the relevant material on record. The instant assessments emanated from the proceedings arising from the revisionary order passed by the ld. CIT u/s.263 of the Income-tax Act, 1961 (hereinafter also called ‘the Act’) for both the years.

Such orders were also challenged by the assessee before the Tribunal along with the instant appeals. All the appeals were heard together. We have passed separate orders today in such appeals filed by the assessee in and passed u/s 263 of the Act. Since the very foundation for the extant proceedings, being the revision orders, are no more existing, the assessment orders and the consequential impugned orders are, therefore, liable to be set aside. We order accordingly. In view of our above decision, there is no need to separately go into the merits of the grounds taken in these appeals.

1591 of 2019 Nalco Company

3.

In the result, the appeals are allowed.

Order pronounced in the Open Court on 05th February, 2021.

Sd/- Sd/- (S.S. VISWANETHRA RAVI) (R.S.SYAL) JUDICIAL MEMBER VICE PRESIDENT पुणे Pune; �दनांक Dated : 05th February, 2021 सतीश आदेश क� क� �ितिलिप �ितिलिप अ�ेिषत अ�ेिषत/Copy of the Order is forwarded to: आदेश क� क� �ितिलिप �ितिलिप अ�ेिषत अ�ेिषत आदेश आदेश अपीलाथ� / The Appellant; 1. ��यथ� / The Respondent; 2.

3. The CIT(IT &TP), Pune 4. The Pr.CIT (IT/TP), Pune िवभागीय �ितिनिध, आयकर अपीलीय अिधकरण, पुणे 5. “सी” / DR ‘C’, ITAT, Pune गाड� फाईल / Guard file 6. आदेशानुसार आदेशानुसार आदेशानुसार/ BY ORDER, आदेशानुसार // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune

1591 of 2019 Nalco Company

Date 1. Draft dictated on 02-02-2021 Sr.PS 2. Draft placed before author 04-02-2021 Sr.PS 3. Draft proposed & placed JM before the second member 4. Draft discussed/approved JM by Second Member. 5. Approved Draft comes to Sr.PS the Sr.PS/PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order.

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