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Sir Ratan Tata Trust, Mumbai Suburban vs Deputy Commissioner Of Income Tax ... on 24 September, 2024 cites

Sir Ratan Tata Trust, Mumbai vs Cit (Exemption), Mumbai on 16 February, 2022

9. We have heard the rival submissions and perused the materials available on record. It is observed that the impugned order of the ld. CIT(A) arises out of the assessment order passed in consequence of the revisionary order of the ld.CIT(E) passed u/s. 263 of the Act. Pertinently, the revisionary order u/s. 263 of the Act has been quashed by the Tribunal (in ITA No. 773/Mum/2021 for A.Y. 2016-17 vide order dated 16.02.2022) on the ground that the ld. CIT(E) has erred in exercising the revisionary jurisdiction. As the assessee has been non-compliant during the assessment proceeding, pursuant to section 263 order, the ld. A.O. presumably was unaware of the order of the Tribunal, quashing the revisionary proceeding. The ld. A.O. had proceeded to pass the assessment order and the ld. CIT(A) subsequently upheld the said order without considering the fact that the Tribunal has already quashed the section 263 order which is the very edifice of the impugned order. The ld. CIT(A) though was aware of the Tribunal's order, as emanating from the order of the ld. CIT(A), had failed to consider the 5 I TA No . 1 2 2 2 / Mu m /2 0 2 4 ( A .Y. 2 0 1 6 - 1 7 ) Sir Ratan Tata Trust vs. Dy. CIT(Exemption) submission made by the assessee with regard to the same. We do not find any justification in the order of the ld. CIT(A) in upholding the assessment order in a scenario where the revisionary order has been held to be null and void in the eyes of law. We, therefore, are of the view that the assessment order passed u/s.144 r.w.s. 263 of the Act is liable to be quashed and, therefore, deem it fit to allow ground nos. 1 to 4 of the assessee's appeal.
Income Tax Appellate Tribunal - Mumbai Cites 26 - Cited by 1 - G S Pannu - Full Document
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