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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.
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 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.
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.