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Income Tax Appellate Tribunal, “B” BENCH : BANGALORE
Before: SHRI A.K. GARODIA & SMT ASHA VIJAYARAGHAVAN
Per A.K. Garodia, Accountant Member
1. This is a revenue’s appeal directed against the order of learned CIT (Appeals), Huballi dated 15.9.2015 for assessment year 2009-10.
The grounds raised by the revenue are as under:-
The order of the Assessing Officer is opposed to law and facts.
2. The A.O. is not justified in disallowing Rs.34,32,127/- claimed as deduction u/s 801A by holding that profit of new undertaking to be computed as if it is the only business right from its inception and set off earlier year’s loss and depreciation against current year’s income of such eligible unit even though they have been allowed set off against other income in earlier years. 3. For these and other grounds of appeal that may be urged at the time of hearing, the additions/disallowances mentioned above be deleted in the interest of natural justice.
Page 2 of 2 3. At the very outset, it was submitted by learned AR of the assessee that it is noted by learned CIT (A) in last Para of his order that order passed by learned CIT u/s 263 had been quashed by the tribunal and therefore, the order passed by the AO u/s 143(3) r.w.s 263 has become infructous. Learned DR of the revenue could not controvert this findings of learned CIT (A).
Considering the facts noted above, we find no reason to interfere in the order of learned CIT (Appeals) because the order passed by the learned CIT u/s 263 itself has been quashed by the tribunal and therefore, the order passed by the AO u/s 143(3) r.w.s. 263 does not survive.
In the result, the appeal of the revenue is dismissed.
Pronounced in the open court on this 13th day of October, 2016.