SMALL IS BEAUTIFUL, HYD,HYDERABAD vs. ADDL.CIT, RANGE-6, HYD, HYDERABAD

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ITA 314/HYD/2016Status: DisposedITAT Hyderabad22 February 2021AY 2007-083 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal decided to keep the rectification issue alive at the Assessing Officer's end. This is to be decided afresh after the final outcome of the pending Supreme Court proceedings.

What were the facts?

The appeal concerns a Section 154 rectification issue for AY 2007-08. A related regular assessment proceeding under Section 143(3) is pending before the Supreme Court.

What were the issues?

Whether a Section 154 rectification issue should be decided pending a higher court's decision on the main assessment.

Which sections of the Income-tax Act were involved?

Section 154,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, HYDERABAD BENCHES “A” : HYDERABAD

Before: SHRI S.S.GODARA & SHRI LAXMI PRASAD SAHU

O R D E R PER BENCH :

This assessee’s appeal for AY.2007-08 arises from the CIT(A)-9, Hyderabad’s order dated 31-12-2015 passed in appeal No.0287/Addl.CIT, Range-6/2015-16 in proceedings u/s.154 of the Income Tax Act, 1961 [in short, ‘the Act’]. Heard both the parties. Case file perused.

2.

It transpires at the outset with the able assistance on both the parties that instant lis raises Section 154 rectification issue whereas the Revenue’s SLP(C) No.33818/2014 in Section 143(3) regular assessment proceedings is pending before the hon’ble apex court. We therefore are of the opinion that larger interest of justice would be met if the impugned issue rectification before us is kept alive at the Assessing Officer’s end to be decided afresh after the final outcome in the Section 143(3) proceedings. Ordered accordingly. It is made clear that the assessee shall be entitled to raise factual/legal pleas in his support in the consequential proceedings. And also that delay; if any in all this waiting period shall not be attributable to the department in any manner; whatsoever.

3.

This assessee’s appeal is treated as allowed for statistical purposes in above terms.

Order pronounced in the open court on 22nd February, 2021

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