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Facts
The Revenue filed an appeal challenging the CIT(A)'s order that quashed an assessment order. The assessment order was passed to give effect to a revision order under Section 263 of the Income Tax Act. The assessee had previously challenged the revision order before the Tribunal, which quashed it.
Held
The Tribunal noted that the CIT(A) correctly held that the impugned assessment order shall not survive since the revision order it was based upon had already been quashed by the Tribunal in a prior appeal. The CIT(A)'s view was found to be in accordance with law.
Key Issues
Whether the CIT(A) erred in quashing the assessment order when the revision order, on which it was based, was already quashed by the Tribunal.
Sections Cited
143(3), 263
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Income Tax Appellate Tribunal, MUMBAI BENCH “C”, MUMBAI
Before: SHRI B.R. BASKARAN & SHRI ANIKESH BANERJEE
PER B.R. BASKARAN, ACCOUNTANT MEMBER :
The Revenue has filed this appeal challenging the order passed by the learned Commissioner of Income Tax (Appeals) (‘CIT(A)’ for short) in quashing the assessment order passed under Section 143(3) read with Section 263 of the Income Tax Act, 1961 (‘Act’ for short) and it relates to assessment year 2014-15.
We heard the parties and perused the record. The impugned assessment order is passed by the Assessing Officer in order to give effect to the revision order passed by the Principal Commissioner of Income Tax under Section 263 of 2 The Indian Hotels Company Ltd. Act. It was brought to our notice that the assessee had challenged the validity of the revision order by filing appeal before the Tribunal and the Tribunal vide its order dated 12.04.2022 passed in has quashed the revision order. Under these set of facts, the learned CIT(A) held that the impugned assessment order shall not survive. The Revenue is aggrieved by the aforesaid decision of the learned CIT(A). We notice that the view taken by the learned CIT(A) is in accordance with law and hence, the order so passed by the learned CIT(A) does not call for any interference.
In the result, the appeal filed by the Revenue is dismissed.
Order pronounced in the open court on 31st July, 2024.