WINVEST HOLDINGS [INDIA] PRIVATE LIMITED [ AMALGAMATED WITH OPC ASSET SOLUTIONS PRIVATE LIMITED ],CHENNAI vs. DCIT ,CORPORATE CIRCLE -3 [2], CHENNAI

आदेश / O R D E R PER MANJUNATHA.G, AM:

This appeal filed by the assessee is directed against the order

of the Principal Commissioner of Income Tax, Chennai-3, dated

31.03.2022, and pertains to assessment year 2017-18.

ITA No.436/Chny/2022 :: 2 ::

Mr.K.R.Sekar, CA & Mr.S.P.Chidambaram, Adv, submits that the

assessee has filed appeal against revision order passed by the PCIT

u/s.263 of the Income Tax Act, 1961 (in short “the Act") dated

31.03.2022. The present appeal filed by the assessee becomes

infructuous, because, there is no cause of action for the assessee as

the consequential assessment order required to be passed u/s.143(3)

r.w.s.263 of the Act, as per provisions of Sec.153(5) r.w.s.153(3) of

the Act, is not passed within the time allowed under the Act. In the

present case, the PCIT has passed order u/s.263 of the Act on

31.03.2022, and as per limitation provided u/s.153(5) r.w.s.153(3)

of the Act, the AO ought to have passed consequential assessment

order within 12 months from the end of the Financial Year, in which,

order u/s.263 of the Act, is passed. If you go by the date of order

passed u/s.263 of the Act on 31.03.2022, the AO ought to have

passed assessment order u/s.143(3) r.w.s.263 of the Act, on

31.03.2023. But, in the present case, no order was passed within the

time limit provided under the Act, which is evident from screenshot

of the IT e-filing portal, where, it shows that limitation date is on

30.09.2023. Since, there is no consequential order was passed, there

is no cause of action for the assessee, and thus, appeal filed by the

assessee may be dismissed as withdrawn.

ITA No.436/Chny/2022 :: 3 ::

dismissal of appeal filed by the assessee as withdrawn.

submissions of either parties and we find that the Ld.Counsel for the

assessee has filed a letter for withdrawal of the appeal on the ground

that there is no cause of action for the assessee, because, the AO has

not passed consequential assessment order u/s.143(3) r.w.s.263 of

the Act, within the time allowed under the Act. We find that as per

the details filed by the assessee, the AO has not passed consequential

order u/s.143(3) r.w.s.263 of the Act, within the time allowed under

the Act as evident from screenshot of IT e-filing portal. From the

above, it appears that no order has been passed to give effect to the

order passed by the PCIT u/s.263 of the Act. Since, there is no order

giving effect to revision order passed by the PCIT, there is no cause

of action for the assessee to pursue its appeal filed before the

Tribunal. Therefore, considering the above facts and circumstances

and also the letter filed by the assessee for withdrawal of the appeal,

we dismiss the appeal filed by the assessee as withdrawn. However,

a liberty is given to the assessee to file appropriate application for

restoration of appeal, subsequently, it has come to the notice of the

ITA No.436/Chny/2022 :: 4 ::

assessee that the assessment order ought to have been passed by

the AO within time limit provided under the Act has been passed.

Order pronounced on the 30th day of August, 2023, in Chennai.

Sd/- Sd/- (वी. दुगा� राव) (मंजूनाथा.जी) (MANJUNATHA.G) (V. DURGA RAO) लेखा सद�य/ACCOUNTANT MEMBER �याियक सद�य/JUDICIAL MEMBER चे�ई/Chennai, �दनांक/Dated: 30th August, 2023. TLN आदेश क� �ितिलिप अ�ेिषत/Copy to: 1. अपीलाथ�/Appellant 3. आयकर आयु�/CIT 5. गाड� फाईल/GF 2. ��यथ�/Respondent 4. िवभागीय �ितिनिध/DR