D.C.I.T.CC - VIII,KOL., KOLKATA vs. M/S KANAK PROJECTS LTD., KOLKATA

It was submitted by the ld.AR of the assessee that this appeal is arising out of the impugned order of the CIT(A), wherein the assessee challenged the giving effect order passed u/s. 143(3)/147 of the Act, in pursuance of order M/s. Kanak Projects Ltd 1 passed u/s. 263 of the Act by CIT. It was further submitted that the assessee challenged the order of the CIT passed u/s. 263 of the Act before this Tribunal, wherein the Tribunal allowed the appeal of assessee by quashing the order therein passed u/s. 263 of the Act and in view of the same no further order requires and as such the present appeal of revenue may be dismissed as infructuous.

The ld.DR submits that the assessee succeeded in the appeal filed against the order passed u/s. 263 before the Tribunal order and conceded no further order requires in this appeal of revenue.

Heard rival submissions and perused the material available on record. We find that the Co-ordinate Bench of this Tribunal quashed the order passed u/s. 263 by relying on the order of Tribunal in assessee’s own case for A.Y 1998-99, in view of the same, the present appeal requires no adjudication. Hence, the same is dismissed as infructuous.

In the result, the appeal of the Revenue is dismissed.