CEVA LOGISTICS INDIA PRIVATE LIMITED,MUMBAI vs. DCIT, 1(1), GURGAON

This appeal is filed by the assesseepertaining to Assessment Year 2020-21 challenging the Final Assessment Order passed by Deputy Commissioner of Income Tax, Circle -1(1) dated 15/07/2024 u/s143(3) r.w. Section 144C(13) read with Section 144B of the Income Tax Act, 1961 ('Act' for short).

The sole contention of the Assessee’s Representative that the Ld. A.O. erred in completing the assessment proceedings based on the standalone return filed by the Assessee. The Ld. A.O, while passing the Final assessment Order, failed to consider the Assessee’s request to keep the proceedings on hold as the Assessee was in the process of filing a revised return of income for the merged entity. The Assessee filed the revised return of income considering the impact of the merger on 24th June, 2024, which requires to be considered in view of the merger. Thus, sought for remanding the matter to the file of the A.O/TPO to consider the revised return and frame the de-novo assessment.

Per contra, the Ld. Department's Representative relying on the orders of the Lower Authorities, sought for dismissal of the Appeal.

Heard the parties, perused the material. The Final Assessment Order has been passed based on the original return filed by the Assessee. The Assessee filed revised return of income considering the impact of merger on 24/06/2024. It is not in dispute that the revised Income Tax Return supersedes the original return and the revised return shall be treated as final return filed by the Assessee u/s 139(5) of the Act. Considering the above facts and circumstances, we are of the opinion that if the matter is remanded the file of A.O./TPO for computing the actual tax liability of the Assessee with a direction to consider the revised return filed by the Assessee, substantial justice would be rendered. Accordingly, the impugned assessment order is hereby set aside and A.O./TPO is directed to consider the revised return filed by the Assessee and pass de-novo assessment after providing opportunity of being heard to the Assessee.