NEULAND LABORATORIES LIMITED,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE-16(1), HYDERABAD

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ITA 1936/HYD/2018Status: DisposedITAT Hyderabad23 July 2021AY 2012-132 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 held that the consequential assessment proceedings had no basis as the revision order was reversed. Consequently, all disallowances and additions forming the subject matter of the appeal were deleted.

What were the facts?

The assessee's appeal for AY 2012-13 arose from an order passed under Section 144 read with Section 263 of the Income Tax Act. The revision order by the PCIT had been reversed by a co-ordinate bench of the tribunal.

What were the issues?

The primary issue was the validity of assessment proceedings initiated based on a revision order that was subsequently quashed by the tribunal.

Which sections of the Income-tax Act were involved?

Section 144,Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, HYDERABAD ‘ A ‘ BENCH, HYDERABAD.

For Appellant: Shri M.V.Anil Kumar

M/s. Neuland Laboratories Limited, Hyderabad. PAN AAACN 9531E …..Appellant. Vs. Dy. Commissioner of Income Tax, Circle 6(1), Hyderabad. …..Respondent. Appellant By : Shri M.V.Anil Kumar. Respondent By : Shri Anil Sant. (D.R.) Date of Hearing : 19.07.2021. Date of Pronouncement : 23.07.2021. O R D E R Per Shri S.S. Godara, J.M. : This assessee’s appeal for Asst. Year 2012-13 arises from the Commissioner of Income Tax (Appeals)-4, Hyderabad’s order dt.23.07.2018 passed in case No.10179/2017-18 in proceedings under Section 144 r.w.s. 263 of Income Tax Act, 1961 (‘the Act’).

Heard both the parties. Case file perused.

2.

We notice at the outset that the instant appeal arises as an off shoot of the PCIT’s section 263 order. And that the said revision order stand reversed by this tribunal’s co-ordinate bench the decided on 12.07.2021.

2. We thus hold that the instant round of consequential assessment proceedings has no legs to stand. The same also follows suit as a necessary corollary. All the disallowances / additions, as the case may be, forming subject matter of the assessee’s corresponding substantive grounds are deleted therefore.

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