JUPITER SOLAR POWER LIMITED,KOLKATA vs. PCIT, CENTRAL-1, KOLKATA

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ITA 1077/KOL/2019Status: DisposedITAT Kolkata11 March 2022AY 2012-132 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 allowed the assessee to withdraw the appeals. Since the AO had not made any additions in the subsequent assessment, the appeals became infructuous.

What were the facts?

The assessee challenged revisionary orders concerning the allowability of deduction under Section 43B. The Assessing Officer (AO) later accepted the assessee's contentions in set-aside assessment proceedings, making no additions as proposed by the PCIT.

What were the issues?

Validity of revisionary jurisdiction exercised by PCIT and whether the appeals were rendered infructuous due to subsequent assessment orders.

Which sections of the Income-tax Act were involved?

Section 43B,Section 263,Section 143(3),Section 153A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” BENCH: KOLKATA

Before: Shri Aby. T.Varkey & Shri Rajesh Kumar]

Pronounced: 11.03.2022

ORDER Per Bench:

These two appeals preferred by the assessee against the orders both even dated 28.02.2019 passed by the Pr. Commissioner of Income Tax (Appeals), Central-1, Kolkata [hereinafter referred to as ‘PCIT’] for the assessment years 2012-13 & 2013- 14.

2.

The assessee has challenged the revisionary orders for both the years on the ground that the revisionary jurisdiction exercised by ld PCIT qua the allowability of claim of deduction u/ 43B in respect of which no incriminating material was found during the course of search, is invalid.

3.

At the outset, the Ld. Counsel for the assessee prayed before the Bench the assessee may be allowed to withdraw these two appeals as the AO in the set aside assessment proceedings, which culminated in passing the orders u/s 263/143(3)/153A of the Act dated 12.12.2009, has accepted the contentions of the assessee and has not made addition in respect of issues as proposed by the PCIT in the order passed u/s 263 of the Act. The Ld. A.R., therefore, prayed before the Bench that these appeals may be allowed to be withdrawn. The ld DR also conceded to this fact that AO has not made any addition in the assessment framed u/s u/s 263/143(3)/153A. In view of these facts and circumstances , both the appeals of the assessee are dismissed as withdrawn.

Order is pronounced in the open court on 11th March, 2022.

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