ACIT., Circle-2(2), Hyderabad, Hyderabad V. M/s Elico Limited, Hyderabad

ITA 1682/HYD/2014

• Counselvise Citation: 168222514 RSA 2014
• Duration Of Justice: 4 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-03-2015
• Appeal Filed By: Department
• Bench Allotted: A
• Next Hearing Date: 12-03-2015
• Assessment Year: 2007-2008
• Appeal Filed On: 03-11-2014
• Court: TRIBUNAL
• Department Lawyers: RAMAKRISHNA BANDI
• Assessee Lawyers: S RAMA RAO

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A, HYDERABAD BEFORE SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER AND SHRI SAKTIJIT DEY, JUDICIAL MEMBER I.T.A. NO. 1682/HYD/2014 ASSESSMENT YEAR: 2007-08 THE ASST. COMMISSIONER OF INCOME TAX, CIRCLE-2(2), HYDERABAD VS M/S. ELICO LTD. , SANAT NAGAR, HYDERABAD [PAN: AAACE5140L] (APPELLANT) (RESPONDENT) FOR REVENUE : SHRI RAMA KRISHNA, BANDI, DR FOR ASSESSEE : S HRI S. RAMA RAO, AR DATE OF HEARING : 1 2 - 0 3 - 201 5 DATE OF PRONOUNCEMENT : 25 - 0 3 - 2015 O R D E R PER B. RAMAKOTAIAH, A.M. : THIS IS REVENUE'S APPEAL FILED AGAINST THE ORDER O F THE COMMISSIONER OF INCOME TAX(APPEALS)-III, HYDERABAD DATED 19-08-2014 WHEREIN LD.CIT(A) ALLOWED ASSESSEE'S APPEAL. REVE NUE IS AGGRIEVED. 2. BRIEFLY STATED, ASSESSEE-COMPANY WAS ASSESSED U/ S.143(3) OF THE INCOME TAX ACT [ACT] AND LATER LD.CIT INVOKED JURI SDICTION U/S.263 AND PASSED ORDERS ON 26-03-2012 GIVING DIRECTIONS TO AS SESSING OFFICER TO RE- DO THE ASSESSMENT. THE IMPUGNED ORDER IS RESULT OF THE CONSEQUENTIAL ITA NO. 1682 /HYD/2014 M/S.ELICO LTD., :- 2 -: PROCEEDINGS. IN THE MEAN TIME, ASSESSEE CHALLENGED THE ORDER U/S.263 BEFORE ITAT, HYDERABAD AND ITAT 'B' BENCH, HYDERABA D IN ITA NO.1690/HYD/2012 DT. 16-07-2014 HAS SET ASIDE THE I MPUGNED ORDER U/S.263. CONSEQUENT TO THAT, CIT(A) HELD THAT THE CONSEQUENTIAL ORDER BECAME INFRUCTUOUS, ACCORDINGLY, THERE IS NO NEED T O MAINTAIN THE PRESENT APPEAL. HE ALLOWED ASSESSEE'S APPEAL AS SU CH. 3. EVEN THOUGH LD.DR SUBMITTED THAT REVENUE IS IN A PPEAL AGAINST THE ORDER OF 263 BEFORE HONOURABLE HIGH COURT, THER EFORE, IN ORDER TO KEEP THE PROCEEDINGS ALIVE, APPEAL WAS PREFERRED, W E DO NOT FIND ANY MERIT IN THE GROUNDS RAISED BY REVENUE. SINCE THE O RDER U/S.263 WAS SET ASIDE, CONSEQUENTIAL ORDER BECOMES INFRUCTUOUS. TH E ORDER OF CIT(A) IS UPHELD ON THE FACTS OF THE CASE. 4. IN THE RESULT, APPEAL IS DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 25 TH MARCH, 2015. SD/- SD/- (SAKTIJIT DEY) (B. RAMAKOTAIAH) JUDICIAL MEMBER ACCOUN TANT MEMBER HYDERABAD, DATED 25 TH MARCH, 2015. TNMM ITA NO. 1682 /HYD/2014 M/S.ELICO LTD., :- 3 -: COPY TO : 1. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 2(2), 8 TH FLOOR, 'B' BLOCK, ROOM NO.824, I.T.TOWERS, A.C.GUAR DS, HYDERABAD. 2. M/S.ELICO LTD., B-90, APIE, SANAT NAGAR, HYDERAB AD. 3. CIT(A)-III, HYDERABAD 4. CIT-II, HYDERABAD 5. D.R. ITAT, HYDERABAD