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

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.

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.

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

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