INCOME TAX OFFICER, NANDED vs. LATUR DISTRICT CENTRAL CO OP BANK LTD, LATUR

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ITA 1209/PUN/2024Status: DisposedITAT Pune07 October 2024AY 2013-14Bench: SHRI SATBEER SINGH GODARA (Judicial Member), SHRI INTURI RAMA RAO (Accountant Member)2 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the subsequent assessment proceedings under Section 143(3) read with Section 263 were invalid because the PCIT's revision directions themselves had been reversed in a prior appeal by the assessee.

What were the facts?

The assessee's appeal for AY 2013-14 arose from an order passed under Section 143(3) read with Section 263 of the Income Tax Act. The original Section 143(3) assessment was deemed erroneous by the PCIT, leading to revision proceedings.

What were the issues?

The primary issue was the validity of assessment proceedings initiated based on revision directions that were subsequently overturned.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE “A” BENCH : PUNE

Before: SHRI SATBEER SINGH GODARA & SHRI INTURI RAMA RAO

Hearing: 01.10.2024Pronounced: 07.10.2024

short the “NFAC”] Delhi’s Din and Order No. ITBA/NFAC/S/250/2024-25/1063947211(1), dated 05.04.2024, in proceedings u/s.143(3) r.w.s.263 of the Income Tax Act, 1961 (in short “the Act”).

Heard both the parties. Case file perused.

2.

It emerges at the outset that there is hardly much a need for us to deal with the relevant factual matrix at length once it is clear from a perusal of the CIT(A)/ NFAC’s impugned

2 ITA.No.1209/PUN./2024 lower appellate order that the learned CIT/ PCIT’s sec.263 revision directions dated 28.03.2018, terming the former round of sec.143(3) assessment dated 24.11.2015 as an erroneous one causing prejudice to interest of the Revenue; itself stands reversed in the assessee’s appeal preferred against the same i.e., ITA.No.165/PUN./2019 decided on 04.10.2019. The Revenue could hardly dispute that the instant sec.143(3) r.w.s. 263 assessment proceedings framed in consequence to the said sec.263 revision directions; have no legs to stand as per sublato fundamento cadit opus principle and the learned CIT(A) has granted relief to the assessee for this precise reason only. We accordingly reject the Revenue’s instant appeal in very terms. Ordered accordingly.

3.

This Revenue’s appeal is dismissed in above terms.

Order pronounced in the open Court on 07.10.2024.

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