SHRI KESHAV CO-OP. CREDIT SOCIETY LTD.,JUNAGADH vs. THE PR.CIT-3, RAJKOT

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ITA 86/RJT/2019Status: DisposedITAT Rajkot28 February 2020AY 2014-152 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the appeal against the section 263 order had become infructuous due to the subsequent order passed by the Assessing Officer. Therefore, the appeal was dismissed as infructuous.

What were the facts?

The assessee filed an appeal against an order passed under section 263 of the Income Tax Act. During the pendency of the appeal, the Assessing Officer passed a consequential order under section 143(3) r.w.s. 263, accepting the returned income and granting deduction under section 80P.

What were the issues?

Whether an appeal against an order under section 263 becomes infructuous if a subsequent consequential order is passed by the AO accepting the returned income and granting the benefit.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3),Section 80P

AI-generated summary — verify with the full judgment below

PER BENCH: The instant appeal filed by the assessee is directed against the order dated 27.03.2019 passed by the Pr. Commissioner of Income Tax (Appeals)- 3, Rajkot arising out of the order dated 31.08.2016 passed by the DCIT under section 263 of the Income Tax Act, 1961 (hereinafter referred as to “the Act”) for the Assessment Year (A.Y.) 2014-15. 2. At the time of hearing of the instant appeal the Ld. Advocate appearing for the assessee submitted before us that the consequential order has been passed under section 143(3) r.w.s. 263 by the AO on 29.11.2019 whereby and whereunder the returned income of the assessee has been accepted and deduction under section 80P has been granted. Hence, that

1.

2 - the present appeal against the order under section 263 has become infructuous. Having regard to the above facts and circumstances of the case we find no merit in the instant appeal thus the appeal is dismissed as infructuous.

3.

In the result, appeal filed by the assessee is allowed. Order pronounced in the Court on 28th February, 2020 at Rajkot.

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