DCIT, MEERUT vs. M/S. GIRNAR TEXTILES, BAGHPAT

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ITA 4334/DEL/2015Status: DisposedITAT Delhi23 March 2017AY 2008-093 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 revisional order under Section 263, which formed the basis of the addition, was set aside by the Tribunal itself, no addition could be sustained. No contrary order from the High Court was placed on record.

What were the facts?

The Assessing Officer made an addition of Rs. 41,12,950/- on account of sundry creditors pursuant to a revisional order passed by the CIT under Section 263. The CIT(A) deleted this addition.

What were the issues?

Whether an addition made based on a revisional order that has been subsequently set aside is valid.

Which sections of the Income-tax Act were involved?

Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH : E : NEW DELHI

Before: SHRI R.S. SYAL, AM & MS SUCHITRA KAMBLE, JM

For Appellant: Shri Rajesh Kumar, Sr. DR
For Respondent: Shri Sunil Jain, FCA
Hearing: 23.03.2017Pronounced: 23.03.2017

(Appellant) (Respondent) Appellant by : Shri Rajesh Kumar, Sr. DR Respondent by: Shri Sunil Jain, FCA Date of Hearing : 23.03.2017 Date of Pronouncement: 23.03.2017 ORDER

PER SHRI R.S. SYAL, AM:

1.

This appeal by the Revenue is directed against the order passed by the CIT(A) on 23.04.2015 in relation to the Assessment Year 2008-09.

2.

The only issue raised in this appeal by the Revenue is against the deletion of addition of Rs.41,12,950/- made by the Assessing Officer on account of sundry creditors.

3.

Shorn of unnecessary details, it is observed that the assessment order passed u/s 143(3) was revised by the ld. CIT u/s 263 of the Act. Pursuant to such order, the Assessing Officer passed the instant order making an addition of Rs.41,12,950/-. The ld.CIT(A) noticed that the order passed u/s 263 was set aside by the Tribunal and, as such, no addition can be made.

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