Orissa Rural Housing Development Corporation Ltd. v. ACIT

Lic Mutual Fund Asset Management Limited, Opp Churchgate Station vs. CIT(A), North Block

In the result, ground No.3 of appeal is allowed

Bench: Shri Vikas Awasthy& Shri S.Rifaur Rahmanआअसं.2824/मुं/2023 (िन.व. 2013-14) Lic Mutual Fund Asset Management Ltd. 4Th Floor, Industrial Assurance Building, Charchgate, Mumbai – 400 020 Pan: Aaacj-1166-H ...... अपीलाथ"/Appellant बनाम Vs. Cit(A), North Block, North Block, New Delhi 110 001. ....."ितवादी/Respondent अपीलाथ" "ारा/ Appellant By : Shri Vijay Mehta "ितवादी "ारा/Respondent By : Shri Manoj Kumar Sinha, Sr.A.R सुनवाई की ितिथ/ Date Of Hearing : 11/12/2023 घोषणा की ितिथ/ Date Of Pronouncement : 26/02/2024 आदेश/Order Per Vikas Awasthy, Jm: This Appeal By The Assessee Is Directed Against The Order Of Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre, Delhi [In Short ‘The Cit(A)’] Dated 22/06/2023, For The Assessment Year 2013-14. 2. The Assessee In Appeal Has Raised Three Grounds. The Gist Of Issues Raised In Appeal By The Assessee Is As Under:

…led u/s.139(5) and if such return is a valid return then the assessment can be completed only on the basis of such revised return as has been held by the Hon’ble High Court of Orissa in the case of Orissa Rural Housing Development Corporation Ltd. reported in 343 ITR 316, the assessment is liable to be annulled. 6. In these circumstances, as notice u/s.143(2) has not been issued in respect of the valid revised return filed by the assessee u/s.139(5) on 26.02.2014, the consequential Assessment Order u/s.143(3) dated 30.03.2014 for the AY 2012-13, in the case of the assessee is bad in law and stands annulled.” Sim…