DCIT CIRCLE-1, NOIDA vs. JE ENERGY VENTURE PVT LTD, NOIDA

As per its grounds of appeal, the Revenue has challenged certain additions or disallowances made in the assessment framed by the Assessing Officer under Section 143(3) r.w. Section 263 of the Act which were reversed by the CIT(A).

When the matter was called for hearing, the ld. counsel for the assessee submitted that the Co-ordinate Bench of Tribunal in ITA No.3927/Del/2016 order dated 4th July, 2018 has quashed the revisional order passed under Section 263 of the Act. It was thus pointed out that in the absence of any jurisdiction under Section 263, the consequential assessment order under Section 143(3) under challenge does not survive either. As a corollary, the present litigation propagated on behalf of the Revenue pales into insignificance and has no leg to stand.

The ld. DR for the Revenue fairly admitted the factual position. In the light of the submissions made on behalf of the assessee and the appellate order of the Co-ordinate Bench in revisional proceedings as noted above, we find that in the absence of any valid jurisdiction exercised by the revisional commissioner, the order passed under Section 143(3) r.w. Section 263 has lost its very foundation. Hence, the litigation arising from such order has lost its substratum. The Revenue appeal for this reason cannot be entertained. Thus, the appeal of the Revenue is dismissed.

In the result, the appeal of the Revenue is dismissed.