HARSH BARTER PRIVATE LIMITED,DHANBAD vs. ITO, WARD-1(4), DHANBAD

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ITA 227/RAN/2019Status: DisposedITAT Ranchi18 August 2023AY 2014-153 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that no assessment order had been framed pursuant to the revisionary direction. Accepting the assessee's contention regarding the expired limitation period, the Tribunal allowed the appeal to be dismissed as withdrawn.

What were the facts?

The assessee challenged a revisionary order passed by the Pr. Commissioner of Income Tax under Section 263. The assessee argued that the revised assessment was neither erroneous nor prejudicial to the revenue. The assessee also contended that the limitation period for passing the assessment order in the set-aside proceedings had expired.

What were the issues?

Whether the revisionary order passed under Section 263 was valid, and if the subsequent assessment proceedings were time-barred.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, RANCHI BENCH AT KOLKATA

Before: SRI RAJESH KUMAR & SONJOY SARMA

order

: August 18th, 2023 ORDER

Per Rajesh Kumar, Accountant Member:

1.

This is an appeal preferred by the assessee against the order of the Pr. Commissioner of Income Tax, Dhanbad (in short ld. 'Pr.

I.T.A. No.: 227/RAN/2019 Assessment Year: 2014-15 Harsh Barter Private Limited. CIT') dated 28.03.2019 for the Assessment Year (in short ‘AY’) 2014-15.

2.

The assessee has challenged the exercise of revisionary jurisdiction u/s 263 of the Act and also consequent order passed u/s 263 of the Act by Ld. Pr. CIT on the ground that the assessment revised by the said order is neither erroneous nor prejudicial to the interests of the Revenue.

3.

At the outset, ld. Counsel for the assessee submitted that the order u/s 263 of the Act was passed on 28.03.2019 by revising the order passed u/s 143(3) of the Act dated 22.09.2016 thereby directing Ld. AO to frame the assessment afresh after doing necessary verification and also giving reasonable opportunity of hearing to the assessee. Ld. A/R submitted that the limitation period for passing the order in the set aside proceeding has already expired. A/R submitted that the last date for passing the order expired on 31.12.2019. The ld. A/R submitted that till date no assessment has been framed which was not controverted by the Departmental representative. Ld. A/R, therefore, prayed that the appeal of the assessee may kindly be dismissed as withdrawn.

4.

After hearing rival contentions and perusing the material on record, we find that no assessment has been framed pursuant to the direction of Ld. Pr. CIT given vide order dated 28.03.2019 passed u/s 263 of the Act and we accept the contention of the assessee qua the withdrawal of appeal and accordingly dismiss the appeal as withdrawn.

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