JAYPEE CEMENT CORPORATION LIMITED,NOIDA vs. PR, CIT, NOIDA

The captioned appeal has been filed at the instance of the assessee against the order of the Pr. Commissioner of Income Tax, Noida dated 28.03.2021 passed under section 263 of the Act concerning AY 2016-17.

As per the grounds of appeal, the assessee has challenged the revisional order dated 28.03.2021 passed u/s. 263 of the Act concerning A.Y. 2016-17.

When the matter was called for hearing, the Ld. Counsel for the assessee interalia submitted that the assessment order passed u/s. 143(3) r.w.s 263 of the Act dated 30.03.2022 in pursuance of the directions u/s.263 of the Act has once again assessed the total loss at Rs.3,98,40,56,630/- which is identical to the loss assessed in the original assessment passed u/s. 143 (3) of the Act dated 10.12.2018 which order, has been subject matter to revision.

In the light of facts pointed out on behalf of the assessee, apparently no prejudice subsists against the assessee by the impugned revisional order passed u/s. 263 of the Act which is sought to be challenged in the present appeal.

We thus do not consider it expedient spend judicial time on such academic and infructuous litigation.

In the result, the appeal of the assessee is dismissed as infructuous.