DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-2, KALYAN vs. MADHAV CONSTRUCTIONS, MUMBAI

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ITA 6412/MUM/2017Status: DisposedITAT Mumbai31 August 2018AY 2003-043 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that since the ITAT had already quashed the revision order passed by the Pr. CIT under Section 263, the subsequent assessment order passed by the AO had become infructuous. Therefore, there was no reason to interfere with the CIT(A)'s order.

What were the facts?

The Revenue appealed against the CIT(A) order concerning assessment years 2005-06 and 2007-08. The AO had initially allowed a deduction under Section 80IB(10), but the Pr. CIT revised this order under Section 263, deeming it prejudicial to revenue. Subsequently, the ITAT quashed the Pr. CIT's revision order.

What were the issues?

Whether the assessment order passed by the AO became infructuous after the ITAT quashed the revision order passed by the Pr. CIT under Section 263.

Which sections of the Income-tax Act were involved?

Section 80IB(10),Section 263,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “D”, BENCH MUMBAI

Before: SHRI R.C.SHARMA, AM & SHRI SANDEEP GOSAIN, JM

For Appellant: Shri S.M. Makhija & Ms. Lipsa A Chandrani
For Respondent: Shri Chaitanya Anjaria, Shri S.M. Makhija & Ms. Lipsa A Chandrani
Hearing: 10/08/2018Pronounced: 31/08/2018

Heard together (2 matters)

ITA No.6414/Mum/2017
ITA No.6416/Mum/2017

Read from the judgment's own cause title. This page is filed under one of them.

आदेश / O R D E R PER R.C. SHARMA (A.M):

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