THE ITO, WARD-2(1)(4), AHMEDABAD vs. M/S. MADHUVAN IRON PVT. LTD., AHMEDABAD

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ITA 1980/AHD/2018Status: DisposedITAT Ahmedabad18 February 2020AY 2012-132 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the Revenue's appeal. This was because the assessment order, which was the basis for the addition, had been made under Section 263, and that Section 263 order itself had been quashed by a coordinate bench of the ITAT.

What were the facts?

The Revenue appealed against the CIT(A)'s deletion of an addition related to share premium. The CIT(A) had dismissed the assessee's appeal based on a previous ITAT order that quashed the Section 263 order.

What were the issues?

Whether the addition made by the Assessing Officer is valid when the order under Section 263, which formed the basis for the assessment, has been quashed.

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, AHMEDABAD “B” BENCH

Before: Shri Amarjit Singh

For Respondent: Shri Samir Tekriwal, CIT-D.R

Revenue by: Shri Samir Tekriwal, CIT-D.R. Assessee by: None Date of hearing : 18-02-2020 Date of pronouncement : 18-02-2020 आदेश/ORDER PER : AMARJIT SINGH, ACCOUNTANT MEMBER:-

This assessee’s appeal for A.Y. 2012-13, arises from order of the CIT(A)-2, Ahmedabad dated 31-07-2018, in proceedings under section 143(3) r.w.s. 263 of the Income Tax Act, 1961; in short “the Act”.

2.

The solitary ground of appeal of the revenue is filed against the decision of ld. CIT(A) in deleting the addition of share premium without dealing the matter on merits.

Page No 2 ITO vs. M/s. Madhuvan Iron Pvt. Ltd.

3.

At the outset during the course of appellate proceedings before us, it is brought to our notice that the ld. CIT(A) has dismissed the appeal of the assessee on the ground that Co-ordinate Bench of the ITAT vide its order in dated 19th Feb, 2018 has quashed the order u/s. 263 dated 15th March, 2017 passed by the Pr. CIT-2 Ahmedabad on the basis of which assessment u/s. 143(3) r.w.s. 263 of the act was made by the assessing officer. In the light of the above facts, the appeal of the revenue is dismissed since the order on the basis of which the addition was made has been quashed by the ITAT as mentioned above. Therefore, the appeal of the revenue is dismissed.

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