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Income Tax Appellate Tribunal, “H” BENCH, MUMBAI
O R D E R
PER AMIT SHUKLA, JM:
The aforesaid cross appeals have been filed by the assessee as well as by the Revenue against the impugned order dated 30-01-2015 for the quantum of assessment passed u/s 143(3) read with Section 263 of the Income Tax Act, 1961 for the assessment year 2005-06.
2 2252/Mum/2015 Assessment Year: 2005-06 2. Before us, the learned Counsel for the assessee submitted that the present appeal is arising out of the set aside proceedings in pursuance of order passed u/s 263, dated 26-03-2013 by the learned CIT (Central Circle-3, Mumbai). He pointed out that now, the said order passed by the learned CIT u/s 263 has been set aside by the Tribunal and the order of the AO passed on 30-12- 2010 u/s 143 (3) r. w. s. 147 has been restored. He also placed the copy of the order of the Tribunal passed in ITA No.4237/Mum/2013 dated 06-11-2015. Thus, he submitted that the present appeal has now become infructuous.
After considering the aforesaid submissions and perusal of the materials placed on record, we find that the original assessment was completed u/s 143(3) on 26-11-2008. Thereafter, the said assessment was reopened u/s 147 and assessment order was passed u/s 143(3) read with Section 17 on 30-12-2010. Thereafter, the learned CIT in his revisionary jurisdiction u/s 263 canceled the said assessment order and directed the Assessing Officer to pass fresh assessment order after considering various issues like disallowance of interest attributable to capital work-in- progress, disallowance in respect of subscription expenses, etc. The said order of the CIT was challenged by the assessee before this Tribunal, wherein the Tribunal vide order dated, 06-11-2015 has quashed/set aside the said order of the learned CIT passed u/s 263 and thereby the assessment order dated 30-12-2010 passed by the Assessing Officer got restored. Once, the order passed u/s 263 itself has been quashed, then the consequent proceedings undertaken u/s 143(3)/263 has been rendered infructuous. Accordingly, the appeal of the assessee as well as the appeal of the Revenue both have become infructuous and the same are treated as dismissed.
3 2252/Mum/2015 Assessment Year: 2005-06 4. In the result, both the appeals of the assessee and that of the Revenue are dismissed. Order pronounced in the open court on 20-12-2016.