Nalco Company, Pune V. Assistant Commissioner of Income-tax, (IT), Circle-2, , Pune

ITA 1775/PUN/2018

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 5804 (ITAT-PUNE)
• Duration Of Justice: 2 year(s) 2 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-02-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Next Hearing Date: 13-01-2020
• Assessment Year: 2011-2012
• Appeal Filed On: 20-11-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ASSESSING OFFICER AO USS C SH
• Assessee Lawyers: PASSED
• Keywords: Revision of order; Set aside
• Section: 263; 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH C, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER ITA NO.1775/PUN/2018 / ASSESSMENT YEAR : 2011-12 M/S.NALCO COMPANY, C/O.238/239, 3 RD FLOOR, QUADRA-1, PANCHSHIL, MAGARPATTA ROAD, PUNE 411 028 MAHARASHTRA PAN : AACCN3661R VS. ACIT (IT), CIRCLE-2, PUNE APPELLANT RESPONDENT ITA NO.1591/PUN/2019 / ASSESSMENT YEAR : 2012-13 M/S.NALCO COMPANY, C/O.238/239, 3 RD FLOOR, QUADRA-1, PANCHSHIL, MAGARPATTA ROAD, PUNE 411 028 MAHARASHTRA PAN : AACCN3661R VS. ACIT (IT), CIRCLE-2, PUNE APPELLANT RESPONDENT / ORDER PER R.S.SYAL, VP : THESE TWO APPEALS BY THE ASSESSEE ARE DIRECTED AGAINST THE FINAL ASSESSMENT ORDERS DATED 18-09-2018 AND 31-07-2 019 PASSED BY THE ASSESSING OFFICER (AO) U/SS.144C(13)/143(3 ) ASSESSEE BY SHRI KETAN VED REVENUE BY SMT. AMRITA MISRA DATE OF HEARING 02-02-2021 DATE OF PRONOUNCEMENT 05-02-2021 ITA NOS. 1775/PUN/2018 AND 1591 OF 2019 NALCO COMPANY 2 READ WITH SECTION 263 OF THE INCOME-TAX ACT, 1961 (HEREINA FTER ALSO CALLED THE ACT) IN RELATION TO THE ASSESSMENT YEARS 2011 - 12 AND 2012-13 RESPECTIVELY. 2. WE HAVE HEARD THE RIVAL SUBMISSIONS AND GONE THROUGH THE RELEVANT MATERIAL ON RECORD. THE INSTANT ASSESSMENTS EMANATED FROM THE PROCEEDINGS ARISING FROM THE REVISIONARY ORDER PASSED BY THE LD. CIT U/S.263 OF THE INCOME-TAX ACT, 1961 (HEREINAFTER ALSO CALLED THE ACT) FOR BOTH THE YEARS. SUCH ORDERS WERE ALSO CHALLENGED BY THE ASSESSEE BEFORE THE TRIBUNAL ALONG WITH THE INSTANT APPEALS. ALL THE APPEALS WERE HEARD TOGETHER. WE HAVE PASSED SEPARATE ORDERS TODAY I N SUCH APPEALS FILED BY THE ASSESSEE IN ITA NO.1217/KOL/2017 AND ITA NO.1334/KOL/2018 QUASHING THE REVISIONARY ORDERS PASSED U/S 263 OF THE ACT. SINCE THE VERY FOUNDATION FOR TH E EXTANT PROCEEDINGS, BEING THE REVISION ORDERS, ARE NO MORE EXISTING, THE ASSESSMENT ORDERS AND THE CONSEQUENTIAL IMPUGNED ORDERS ARE, THEREFORE, LIABLE TO BE SET ASIDE. WE ORDER ACCORDINGLY. IN VIEW OF OUR ABOVE DECISION, THERE IS NO NE ED TO SEPARATELY GO INTO THE MERITS OF THE GROUNDS TAKEN IN THESE APPEALS. ITA NOS. 1775/PUN/2018 AND 1591 OF 2019 NALCO COMPANY 3 3. IN THE RESULT, THE APPEALS ARE ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 05 TH FEBRUARY, 2021. SD/- SD/- (S.S. VISWANETHRA RAVI) (R.S.SYAL) JUDICIAL MEMBER VICE PRESIDE NT PUNE; DATED : 05 TH FEBRUARY, 2021 / COPY OF THE ORDER IS FORWARDED TO : 1. / THE APPELLANT; 2. / THE RESPONDENT; 3. THE CIT(IT &TP), PUNE 4. THE PR.CIT (IT/TP), PUNE 5. , , / DR C, ITAT, PUNE 6. / GUARD FILE / BY ORDER, // TRUE COPY // SENIOR PRIVATE SECRETARY , / ITAT, PUNE ITA NOS. 1775/PUN/2018 AND 1591 OF 2019 NALCO COMPANY 4 DATE 1. DRAFT DICTATED ON 02-02-2021 SR.PS 2. DRAFT PLACED BEFORE AUTHOR 04-02-2021 SR.PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER. JM 5. APPROVED DRAFT COMES TO THE SR.PS/PS SR.PS 6. KEPT FOR PRONOUNCEMENT ON SR.PS 7. DATE OF UPLOADING ORDER SR.PS 8. FILE SENT TO THE BENCH CLERK SR.PS 9. DATE ON WHICH FILE GOES TO THE HEAD CLERK 10. DATE ON WHICH FILE GOES TO THE A.R. 11. DATE OF DISPATCH OF ORDER. *