SHRI C. RATHNAKUMAR,COIMBATORE vs. DCIT, NCC-2, COIMBATORE

This appeal filed by the assessee is directed against the order of the Learned Commissioner of Income Tax (Appeals)-1, Coimbatore dated 03.02.2020 relevant to the Assessment Year 2015-16.

The brief facts of the case are that the assessee is an individual, filed his return of income for the assessment year 2015-16 declaring total income of Rs. 24,10,800/- and the same was processed u/s. 143(1) of the Income Tax Act, 1961 (hereinafter "the Act"). The case was selected for scrutiny under CASS and notice u/s. 143(2) of the Act on 27.06.2017 was issued. After following due procedure, an assessment was completed by accepting the return of income of the assessee.

By invoking the provisions of s. 263 of the Act, the Ld. PCIT passed a revision order by directing the A.O to re-do the assessment for verification and proper investigation of the unsecured loans are genuine, deduction against the income from other sources has been correctly shown in the return of income, admissibility of interest expenses. Against the revision order, the assessee is in appeal before the Tribunal.

By filing a copy of the order u/s. 143(3), r/w s. 263, r/w s. 144B of the Act dated 29.09.2021, the ld. counsel for the assessee has submitted that the National Faceless Assessment Centre accepted the income returned by the assessee and no addition was made. It was 3 -: the further submission of the assessee that the appeal against the order u/s. 263 of the Act may kindly be permitted to be withdrawn.

On the other hand, the ld. Departmental Representative supported the orders of the authorities below.

We have heard both the parties, perused the material available on record and gone through the orders of the authorities below.

Against the revision orders passed u/s. 263 of the Act, the National Faceless Assessment Centre concluded the assessment order u/s. 143(3), r/w s. 263, r/w. 144B of the Act dated 29.09.2021 and accepted the income returned by the assessee and no addition was made. Thus, the revision order u/s. 263 of the Act mere academic and thus, the appeal filed by the assessee become infructuous as prayed before the Tribunal. Thus, the appeal filed by the assessee is dismissed.