Astrix Laboratories Limited, Hyderabad V. DCIT, Circle 16(2), Hyderabad

ITA 1306/HYD/2014

• Counselvise Citation: [2015] 120 COUNSELVISE.COM (IT) 8965 (ITAT-HYDERABAD)
• Duration Of Justice: 6 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-01-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 20-01-2015
• Assessment Year: 2006-2007
• Appeal Filed On: 07-07-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D APARNA RAO
• Assessee Lawyers: SATYANARAYANA
• Section: 143(3); 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A', HYDERABAD BEFORE SHRI P.M.JAGTAP, ACCOUNTANT MEMBER AND SHRI SAKTIJIT DEY, JUDICIAL MEMBER ITA NO.1306/HYD/2014 (ASSESSMENT YEARS 2006 - 07) M/ S. ASTRIX LABORATORIES LTD., HYDERABAD ( PAN - AAFCA 4120 R) V/S. DY. COMMISSIONER OF INCOME - TAX CENTRAL 16(2), HYDERABAD (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI SATYANARAYANA RESPONDENT BY : SMT. D. APARNA RAO DAT E OF HEARING 20 .0 1 .201 5 DATE OF PRONOUNCEMENT 20.01.2015 O R D E R PER P.M.JAGTAP, ACCOUNTANT MEMBER: THIS APPEAL F ILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF LEARNED COMMISSIONER OF INCOME - TAX(APPEALS) - V, HYDERABAD DATED 31.3.2014. 2. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AND ALSO PERUSED THE RELEVANT MATERIAL ON RECORD. IT IS OBSERVED THAT THIS APPEAL IS ARISING FORM THE ORDER PASSED BY THE ASSESSING OFFICER UNDER S.143(3) IN PURSUANCE OF THE ORDER PASSED BY THE LEARNED COMMISSIONER OF INCOME - TAX IV, HYDERABAD UNDER S.263 ON 26.3.2012. AS SUBMITTED BY THE LEARNED COUNSEL FOR THE ASSESSEE, THE ORDER PASSED BY THE LEARNED COMMISSIONER OF INCOME - TAX U/S. 263 HAS ALREADY BEEN SET ASIDE BY THE TRIBUNAL VIDE ITS ORDER DATED 16 .1.2015 PASSED IN ITA NO.840/HYD/2012. CONSEQUENTLY, THE SUBSEQUENT PROCEEDINGS ORIGINATED FROM THE ORDER PASSED BY THE LEARNED COMMISSIONER OF INCOME - TAX UNDER S.263 INCLUDING THE I TA NO. 13 06 /HYD/2014 M/S. ASTRIX LABORATORIES LTD., HYDERABAD 2 ASSESSMENT ORDER MADE BY THE ASSESSING OFFICER U/S. 143(3) READ WITH S.263 , AS WELL AS THE IMPUGNED ORDER OF T H E LEARNED CIT(A) HA V E BECOME NON - EST IN THE EYE OF LAW. WE, TH E R E FORE, SET ASIDE THE SAID ORDERS AND ALLOW THIS APPEAL OF THE ASSESSEE . 3. IN THE RESULT, APP EAL OF THE ASSESSEE IS ALLOWED . ` `` ORDER PRONOUNCED IN THE COURT ON 20 TH JANUARY, 2015 SD/ - SD/ - ( SAKTIJIT DEY) ( P.M.JAGTAP ) JUD ICIAL MEMBER ACCOUNTANT MEMBER DT/ - 20TH JANUARY, 201 5 COPY FORWARDED TO: 1. M/S. ASTRIX LABORATORIES LTD., PLOT NO.564/A/22, ROAD NO.92, JUBILEE HILLS, HYDERABAD 2 . DY. COMMISSIONER OF INCOME - TAX CIRCLE 16(2), HYDERABAD 3. 4. COMM ISSIONER OF INCOME - TAX(APPEALS) V HYDERABAD COMMISSIONER OF INCOME - TAX IV, HYDERABAD 5. DEPARTMENTAL REPRESENTATIVE, ITAT, HYDERABAD. B.V.S