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Income Tax Appellate Tribunal, “H”, BENCH
Before: SHRI M. BALAGANESH, AM & SHRI AMARJIT SINGH, JM
आदेश / O R D E R PER M. BALAGANESH (A.M): This appeal in A.Y.2008-09 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-12, Mumbai in appeal No.CIT(A)-12/DCIT-6(3)(2)/139/14-15 dated 31/01/2018 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) r.w.s.263 of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 27/03/2014 by the ld. Dy. Commissioner of Income Tax- 5(2) (hereinafter referred to as ld. AO).
M/s. Karthik Financial Services Pvt.Ltd.,
At the outset, we find that this is an appeal preferred by the assessee against the order of ld. CIT(A) confirming the action of the ld. AO, who had passed an order consequent to the order passed by the ld. CIT u/s.263 of the Act. The order u/s.263 was passed by the ld. CIT-5, Mumbai on 26/03/2013. The assessee had originally preferred an appeal against this order passed u/s.263 before us which was disposed off by this Tribunal in for A.Y.2008-09 dated 26/03/2019 wherein this Tribunal had held that the ld. CIT erred in exercising revisional jurisdiction u/s.263 of the Act in the facts and circumstances of the case. We hold that once the 263 order has been quashed by this Tribunal, consequently the order passed pursuant to the said 263 order by the ld. AO which had been further confirmed by the ld. CIT(A) does not survive. Hence, the grounds raised by the assessee are allowed on this technical aspect.
In the result, appeal of the assessee is allowed.
Order pronounced in the open court on this 10/07/2019
Sd/- Sd/- (AMARJIT SINGH) (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai; Dated 10/07/2019 KARUNA, sr.ps
M/s. Karthik Financial Services Pvt.Ltd.,