LANCO GROUP LIMITED, HYDERABAD,HYDERABAD vs. ACIT, CIRCLE-16(1), HYDERABAD, HYDERABAD

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ITA 688/HYD/2017Status: DisposedITAT Hyderabad03 September 2021AY 2012-133 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the assessee's appeal had become infructuous due to the subsequent assessment order. Therefore, the appeal was dismissed as rendered infructuous.

What were the facts?

The assessee's appeal arose from an order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263. The Assessing Officer (AO) subsequently framed a consequential assessment without making any disallowance under Section 14A read with Rule 8D(ii).

What were the issues?

Whether the appeal is rendered infructuous due to a subsequent assessment order passed by the AO following a PCIT's Section 263 order.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3),Section 147,Section 14A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, HYDERABAD ‘B’ BENCH, HYDERABAD.

For Appellant: Shri P. Murali Mohana Rao

O R D E R Per S.S. Godara J.M. : This assessee’s appeal arises from the Pr. Commissioner of Income Tax-4, Hyderabad’s order dt.30.03.2017 passed in proceedings under Section 143(3) r.w.s. 147 of Income Tax Act, 1961 (‘the Act’).

Heard both parties. Case file perused.

2.

It transpires during the course of hearing that in consequence to the PCIT’s section263 order under challenge, the Assessing Officer has framed his consequential assessment on 14.12.2017 in proceedings u/s. 143(3) r.w.s. 263 of the Act without making any disallowance u/s. 14A r.w. Rule 8D(ii) of the Income Tax Rules. We therefore hold that the assessee's instant appeal stands rendered infructuous as on date. We order accordingly. It is further made clear that nothing shall preclude the assessee to take all legal remedies available under the law, if any.

3.

This assessee's appeal is dismissed as rendered infructuous in foregoing terms. Order pronounced in the open court on 3rd Sept., 2021.

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