Neuland Laboratories Limited , Hyderabad V. Dy. Commissioner of Income Tax , Circle-16(1), Hyderabad

ITA 1936/Hyd/2018

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 9826 (ITAT-HYDERABAD)
• Duration Of Justice: 2 year(s) 10 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-07-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB-A
• Next Hearing Date: 19-07-2021
• Assessment Year: 2012-2013
• Appeal Filed On: 20-09-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: M V ANIL KUMAR
• Section: 201; 13; 144

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD A BENCH, HYDERABAD. BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND SHRI L . P . SAHU, ACCOUNTANT MEMBER (THROUGH VIRTUAL HEARING) ITA NO. 1936 /HYD/20 18 (ASSESSMENT YEAR : 20 12 - 13 ) M/S. NEULAND LABORATORIES LIMITED, HYDERABAD. PAN AAACN 9531E ..APPELLANT. VS. DY. COMMISSIONER OF INCOME TAX, CIRCLE 6(1), HYDERABAD. ..RESPONDENT. APPELLANT BY : SHRI M.V.ANIL KUMAR. RESPONDEN T BY : SHRI ANIL SANT. (D.R.) DATE OF HEARING : 19.07. 2021. DATE OF PRONOUNCEMENT : 23 .0 7 .2021. O R D E R PER SHRI S.S. GODARA, J.M. : THIS ASSESSEES APPEAL FOR ASST. YEAR 201 2 - 13 ARISES FROM THE COMMISSIONER OF INCOME TAX (APPEALS) - 4 , HYDERABAD S ORDER DT. 23.07.2018 PASSED IN CASE NO. 10179/2017 - 18 IN PROCEEDINGS UNDER SECTION 14 4 R.W.S. 263 OF INCOME TAX ACT, 1961 (THE ACT). HEARD BOTH THE PARTIES . C ASE FILE PERUSED . 2 ITA NO. 1936/HYD/2018 2. WE NOTICE AT THE OUTSET THAT THE INSTANT APPEAL ARISES AS AN OFF SHO OT OF THE PCITS SECTION 263 ORDER. AND THAT THE SAID REVISION ORDER STAND REVERSED BY THIS TRIBUNALS CO - ORDINATE BENCH THE ITA NO.823/HYD/2017 D ECIDED ON 12.07.2021 . 2. WE THUS HOLD THAT THE INSTANT ROUND OF CONSEQUENTIAL ASSESSMENT PROCEEDINGS HAS NO LEGS TO STAND. THE SAME ALSO F OLLOWS SUIT AS A NECESSARY COROLLARY. ALL THE DISALLOWANCES / ADDITIONS , AS THE CASE MAY BE , FORMING SUBJECT MATTER OF THE ASSESSEES CORRESPONDING SUBSTANTIVE GROUNDS ARE DELETED THEREFORE. 3. THIS ASSESSEE'S APPEAL IS ALLOWED IN ABOVE TERMS. ORDER PRONOUNCED IN THE OPEN COURT ON 23RD JU LY , 2021. SD/ - SD/ - (L .P. SAHU) (S.S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DT. 23 .0 7 .2021. * REDDY GP COPY TO : 1. M/S. NEULAND LABORATORIES LIMTIED, 82 - 120/1113, SANALI INFO PARK A BLOCK, GROUND FLOOR, ROAD NO.2, BANJARA HILLS, HYDERABAD - 500 034 2. DCIT, CIRCLE 16(1), HYDERABAD. 3. ADDL. CIT, RANGE - 16, HYDERABAD. 4. CIT(APPEALS) - 4, HYDERABAD. 5. DR, ITAT, HYDERABAD. 6. GUARD FILE. BY ORDER SR. PVT. SECRETARY, ITAT, HYDERABAD.