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Income Tax Appellate Tribunal, ‘B’ BENCH, CHENNAI
Before: SHRI MAHAVIR SINGH & SHRI MANJUNATHA.G
PER MAHAVIR SINGH, VICE PRESIDENT:
This appeal by the assessee is arising out of the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC) in order No.ITBA/NFAC/S/250/2023-24/1057071787(1) dated 16.10.2023. The assessment order was framed by the Income Tax Officer, Exemptions Ward 1, Chennai for the assessment year 2016-17 u/s.143(3) of the Income Tax Act, 1961 (hereinafter the ‘Act’), vide order dated 24.12.2018.
At the outset, the ld.counsel for the assessee stated that the AO has already rectified and allowed accumulation in view of filing of Form
2 No.10. The ld.counsel filed copy of rectification order dated 04.12.2020 passed u/s. 154 r.w.s. 143(3) of the Act. The relevant reads as under:- “The assessee Trust filed return of income on 23-02-2017 for the A.Y 2016-17 along with the Form 10 for accumulation of Rs.1,29,95,574/- filed on 31-03- 2018. Since the Form 10 was filed after date of filing of the return of income, the claim for accumulation was not given and a demand of Rs.52,04,752/- was raised during the time of completion of 143(3) on 24-12-2018. The Assessee has filed condonation for Form 10 and the CIT (Exemption) had condoned the delay in filing of Form 10 for accumulation of Rs.1,29,95,574/- on 12-11-2020. Since the Form 10 filed is condoned, the order U/s 143(3) dated 24-12-2018 is revised and order U/s 154 is passed accordingly.”
2.1 The ld.counsel for the assessee stated that as the assessee has already been allowed relief, the appeal filed by the assessee has become practically infructuous and hence, can be dismissed as infructuous. The ld.Senior Departmental Representative has not objected to the same. In term of the above, the appeal is dismissed as infructuous.
In the result, the appeal filed by the assessee is dismissed as infructuous.
Order pronounced in the open court at the time of hearing on 19th February, 2024 at Chennai.