DCIT 1 (1)(2), MUMBAI vs. M/S HOUSING DEVELIPMENT FINANCE CORPORATION LTD, MUMBAI

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ITA 15/MUM/2020Status: DisposedITAT Mumbai31 August 2021AY 2008-093 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that since the Section 263 order was already set aside, the consequential assessment order had no basis. Therefore, the findings of the CIT(A) were accepted.

What were the facts?

The Revenue appealed against the CIT(A)'s order which quashed an assessment order passed under Section 143(3) read with Section 263. The ITAT noted that a co-ordinate bench had already set aside the Section 263 order.

What were the issues?

Whether the CIT(A) erred in quashing the assessment order when the underlying Section 263 order was already set aside by the ITAT.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “H” MUMBAI

Before: SHRI S. RIFAUR RAHMAN & SHRI RAVISH SOOD

For Appellant: Mr. Ketan Ved, AR
For Respondent: Mr. Manoj Mishra, CIT-DR, Mr. Ketan Ved, AR
Hearing: 30/06/2021Pronounced: 31/08/2021

ORDER PER S. RIFAUR RAHMAN, A.M. The present appeal filed by the Revenue is against the order of Commissioner of Income Tax (Appeals)-2, Mumbai [in short ‘CIT(A)’] for the assessment year 2008-09 dated 11.10.2019 and arises out of assessment completed u/s 143(3) r.w.s. 263 of the Income Tax Act, 1961 (in short the Act).

2.

At the time of hearing, it is brought to our notice that the order passed by the Pr. CIT u/s 263 of the Act was set aside by the Co-ordinate Bench of the Tribunal on 12.06.2019 in ITA No. 3928/M/2013. Further, it is submitted that the Revenue is in appeal before us against the order passed by the Ld. CIT(A) by M/s Housing Development 2 quashing consequential order passed u/s 143(3) r.w.s.

263.

The fact on record that the Co-ordinate Bench has already set aside the 263 order. This fact is visible from the grounds of appeal

raised by the Revenue which is reproduced below: “On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in quashing the assessment order u/s 143(3) r.w.s. 263 passed by the Assessing Officer by relying on the order of the Hon’ble ITAT setting aside the order passed u/s 263 by the CCIT(OSD) without appreciating that the order of the ITAT has not been accepted by the Department.”

4. Since, the Co-ordinate Bench has already set aside the 263 order. The consequential order passed u/s 143(3) r.w.s. 263 has no leg to stand. Therefore, we inclined to accept the findings of the Ld. CIT(A). We do not see reason to entertain the grounds of appeal raised by the Revenue which was filed before us. Accordingly, the ground raised by the Revenue is dismissed.

5. In the result, the appeal filed by the Revenue is dismissed. Order pronounced in the open Court on 31/08/2021. Sd/- Sd/- (RAVISH SOOD) (S. RIFAUR RAHMAN) JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai; Dated: 31/08/2021 Rahul Sharma, Sr. P.S. Copy of the Order forwarded to :

1. The Appellant 2. The Respondent. 3. The CIT(A)- M/s Housing Development 3

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