TULSYAN NEC LIMITED,CHENNAI vs. PCIT, CHENNAI

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ITA 99/CHNY/2021Status: DisposedITAT Chennai06 April 2022AY 2015-162 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 noted that the NFAC order was passed without making any further additions. Therefore, the appeals were disposed of as infructuous.

What were the facts?

The assessee filed appeals against orders passed by the Principal Commissioner of Income Tax. During the hearing, the assessee submitted a consequential assessment order passed by the National Faceless Assessment Centre (NFAC).

What were the issues?

Whether the appeals filed by the assessee have become infructuous due to a subsequent assessment order.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 263,Section 144B

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘D’ BENCH, CHENNAI

Before: SHRI V. DURGA RAO & SHRI G. MANJUNATHA

PER G.MANJUNATHA, AM: These two appeals filed by the assessee are directed against separate, but identical orders passed by the learned Principal Commissioner of Income Tax, Chennai-3, both dated 25.03.2021 and pertain to assessment years 2015-16 & 2016- 17.

2.

The learned AR for the assessee, at the time of hearing filed a petition dated 31.03.2022 along with copy of consequential assessment order, passed by National Faceless Assessment Centre (NFAC), Delhi, u/s.143(3) r.w.s 263 r.w.s 144B of the Income Tax Act, 1961, dated 17.03.2022, wherein the Department has accepted income earlier assessed u/s.143(3) by order dated 28.12.2018 without making any further additions. Therefore, the learned AR prayed that both these appeals may be disposed off as infructuous.

3.

The learned DR for the Revenue has no objection to dispose off these appeals.

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