KEDIA TRADE & AGENCIES (P) LTD,KOLKATA vs. PCIT-2, KOLKATA

The present appeal is directed at the instance of the assessee against the order of the ld. Principal Commissioner of Income Tax (Appeals), Kolkata - 2, [hereinafter the “ld. Pr. CIT”], dt. 10/06/2020, passed u/s 263 of the Income Tax Act, 1961 (in short “the Act”) for the Assessment Year 2015- 16.

The ld. Counsel for the assessee at the very outset submitted that as per Section 153(1) of the Act, an assessment order should be passed within one year from the end of the financial year in which the order u/s 263 of the Act was passed. He pointed out that the assessment order should have been passed by 31/03/2021. According the ld. Counsel for the assessee, no such assessment order has been passed or ever served upon the assessee. therefore, on the basis of above information the assessee submitted that this appeal becomes redundant because no assessment has been framed in Assessment Year : 2015-16 Kedia Trade & Agencies Pvt. Ltd. 2 consequence to the impugned order. The assessee does not want to pursue this appeal in view of the above situation.

However, with abundant caution, we observe that in case some assessment order is unearthed with effect that it was issued for service upon the assessee but could not be effected or an assessment order in pursuance to this order dt. 10/06/2020 sees the day of light which was passed by 31/03/2021, then the assessee will be at liberty to get the appeal revived.

In the result, appeal of the assessee is dismissed as withdrawn in above terms.