JOINT COMMISSIONER OF INCOME-TAX, (OSD), PANVEL CIRCLE,, PANVEL vs. M/S. JOHNSON MATTHEY CHEMICALS INDIA PVT.LTD,, RAIGAD

This appeal by the Revenue against the order dated 15-04-2019 passed by the Commissioner of Income Tax (Appeals)-1, Aurangabad [‘CIT(A)’] for assessment year 2007-08.

At the outset, we note that the present appeal filed by the Revenue challenging the action of CIT(A) in allowing assessee’s appeal which was filed against the order of AO passed u/s. 143(3) r.w.s. 263 of the Act.

The CIT(A) in his order at Para No. 5 observed that the Pune Tribunal set aside the order passed by the CIT-2, Thane u/s. 263 of the Act and held consequential order passed by the AO u/s. 143(3) r.w.s. 263 of the Act has no legs to stand. The ld. DR, Shri Shivraj B. Morey submits that the appellant-revenue filed an appeal before the Hon’ble High Court of Bombay against the order of ITAT and prayed to keep this appeal in abeyance till date the disposal of the same by the Hon’be High Court. The ld. AR, Shri M.P. Lohia submits that when the ITAT quashed the order passed u/s. 263 of the Act and the consequential order therein does not stand and this appeal should be dismissed as infructuous. The ld. DR prayed that atleast liberty may be given to the Revenue to restore this appeal in case Revenue’s succeeds before the Hon’ble High Court of Bombay. Therefore, considering the facts and circumstances of the case and in the interest of justice, we treat this appeal as infructuous but, however, liberty granted to the appellant-revenue to make an application in case of favourable orders from the Hon’ble Jurisdictional High Court. Thus, the ground raised by the Revenue becomes infructuous.

In the result, the appeal of Revenue is dismissed.