Income Tax Appellate Tribunal - Pune
Ito, Ward-6(1), Pune vs M/S. Shriniwas Engineering Auto ... on 12 July, 2021
IN THE INCOME TAX APPELLATE TRIBUNAL "B" BENCH, PUNE
(THROUGH VIRTUAL COURT)
BEFORE SHRI INTURI RAMA RAO, AM
AND
SHRI PARTHA SARATHI CHAUDHURY, JM
आयकर अपीऱ सं. / ITA No.1940/PUN/2019
ननधधारण वषा / Assessment Year : 2013-14
The Income-tax Officer,
Ward 6(1), Pune
.......अऩीऱधथी / Appellant
बनाम / V/s.
M/s. Shriniwas Engineering
Auto Components Pvt. Ltd.,
Office No.5, Mansara Apartment,
1108/4, University Road,
Pune - 411016
PAN: AAJCS8944F
......प्रत्यथी / Respondent
Assessee by : Shri Hari Krishan
Revenue by : Shri Deepak Garg
सुनवधई की तधरीख / Date of Hearing : 12-07-2021
घोषणध की तधरीख / Date of Pronouncement : 12-07-2021
आदे श / ORDER
PER PARTHA SARATHI CHAUDHURY, JM :
This appeal preferred by the Revenue emanates from the order of the Ld. CIT(A)-4, Pune, dated 17.09.2019.
2. Brief facts of the case are that the assessee filed return of income for A.Y. 2013-14 on 30.09.2013 declaring total income of Rs.9,59,99,520/- 2 ITA No.1940/PUN/2019 and a revised return on 29.11.2014 declaring income of Rs.7,24,92,650/-. The original assessment u/s 143(3) of the Income-tax Act, 1961 (hereinafter referred to as „the Act‟) was finalized on 23.03.2016 assessing the total income at Rs.10,76,64,484/-. Subsequently, the Pr. Commissioner of Income Tax - 3, Pune (hereinafter referred to as „PCIT‟) passed an order u/s 263 of the Act dated 30.03.2018 wherein the AO was directed to examine (a) the receipts under the head „Package Scheme Incentive Accrued‟ in the light of facts and findings in the case of Sahney Steel & Press Works Ltd. and (b) genuineness of share capital amount and share premium including applicability of section 68 and section 56(2)(viib)/Rule 11UA. The AO passed the order u/s 143(3) r.w.s. 263 of the Act on 26.12.2018 assessing the income at Rs.30.47,04,860/-. The assessee challenged the same before the ld. CIT(A). The ld. CIT(A) allowed the appeal of assessee, against which the Revenue is in appeal before us.
3. At the very outset, Ld. Counsel for the assessee submitted that the order passed by the PCIT u/s 263 of the Act is not maintainable as the same has been quashed by the Pune Bench of Tribunal. The ld. DR fairly admitted the proposition raised by ld. AR.
4. After considering the rival submissions and material on record, it is observed that the Pune Bench of Tribunal in assessee‟s own case in ITA No.777/PUN/2018, relating to A.Y. 2013-14 vide order date 28.02.2019 has quashed the order passed by PCIT u/s 263 of the Act on 30.03.2018 as null and void. In view of the order passed by PCIT has already been 3 ITA No.1940/PUN/2019 dismissed by the Tribunal, the present appeal also stands dismissed. Thus, the grounds raised by Revenue are dismissed.
5. In the result, the appeal of Revenue is dismissed.
Order pronounced in the open court on 12th July, 2021.
Sd/- Sd/- (INTURI RAMA RAO) (PARTHA SARATHI CHAUDHURY) ACCOUNTANT MEMBER JUDICIAL MEMBER ऩुणे / Pune; ददनधांक / Dated : 12th July, 2021 GCVSR
आदे श की प्रतिलऱपप अग्रेपिि / Copy of the Order forwarded to :
1. अऩीऱधथी / The Appellant.
2. प्रत्यथी / The Respondent
3. The CIT (Appeals)-4, Pune.
4. The Pr. CIT-3, Pune.
5. DR, ITAT, "B" Bench, Pune.
6. गधर्ा फ़धइऱ / Guard File.
//सत्यधपऩत प्रनत// True Copy// आदे शधनुसधर / BY ORDER, वररष्ठ ननजी सचिव / Sr. Private Secretary आयकर अऩीऱीय अचधकरण, ऩुणे / ITAT, Pune