G. Bhagvanth Reddy, Hyderabad, Hyderabad V. ITO, Ward-7(3), Hyderabad, Hyderabad

ITA 333/HYD/2017

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 2387 (ITAT-HYDERABAD)
• Duration Of Justice: 3 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-06-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2003-2004
• Appeal Filed On: 24-02-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P V SUBBA RAJU
• Section: 143(3)

Judgement Text

ITA NO 333 OF 2017 G BHAGVANTH REDDY HYDERABAD PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD A BENCH, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA NO.333/HYD/2017 (ASSESSMENT YEAR: 2003-04) SHRI G. BHAGVANTH REDDY HYDERABAD PAN: ACWPG 5124 H VS INCOME TAX OFFICER WARD 7(3) HYDERABAD (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI A. HARISH FOR REVENUE : SHRI P.V. SUBBARAJU, DR O R D E R PER SMT. P. MADHAVI DEVI, J.M. THIS IS ASSESSEES APPEAL FOR THE A.Y 2003-04 AGAINS T THE ORDER OF THE CIT (A)-10, HYDERABAD, DATED 22.8. 2016. 2. THIS IS AN APPEAL AGAINST THE ORDER OF THE CIT ( A) CONFIRMING THE CONSEQUENTIAL ORDER PASSED BY THE AO U/S 143(3) R.W.S. 263 OF THE ACT DATED 26.12.2008. AT THE TIME OF HEARING, THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE CIT HAD PASSED AN ORDER U/S 263 OF THE ACT, DIRECTING THE A O TO RE-DO THE ASSESSMENT IN THE LIGHT OF THE FINDINGS AND OBSERVA TIONS IN THE ORDER U/S 263 OF THE ACT AND CONSEQUENT THERETO, TH E AO HAD PASSED THE CONSEQUENTIAL ORDER DATED 26.12.2008 AGA INST WHICH THE ASSESSEE PREFERRED AN APPEAL BEFORE THE CIT (A) . MEANWHILE THE DATE OF HEARING : 14.06.2017 DATE OF PRONOUNCEMENT : 21.06.2017 ITA NO 333 OF 2017 G BHAGVANTH REDDY HYDERABAD PAGE 2 OF 2 ASSESSEE HAD ALSO CHALLENGED THE ORDER U/S 263 OF T HE ACT BEFORE THE INCOME TAX APPELLATE TRIBUNAL AND THE INCOME TA X APPELLATE TRIBUNAL VIDE ORDER DATED 29.12.2010, HAD SET ASIDE THE ORDER U/S 263. MEANWHILE THE CIT (A) ALSO HAD DISMISSED THE A SSESSEES APPEAL BY REFUSING TO CONDONE THE DELAY OF TWO DAYS IN FILING OF THE APPEAL. AGAINST THE ORDER OF THE CIT (A), THE ASSES SEE IS IN APPEAL BEFORE US RAISING A GROUND THAT THE CONSEQUENTIAL O RDER PASSED BY THE AO U/S 143(3) R.W.S. 263 IS WITHOUT ANY BASIS A S THE ORDER U/S 263 HAS BEEN SET ASIDE. THE COPY OF THE ORDER O F THE TRIBUNAL IS ALSO PLACED BEFORE US. WE FIND THAT THE CONTENT IONS OF THE ASSESSEE ARE CORRECT. IN VIEW OF THE SAME, THE ORDE R OF THE CIT (A) IS SET ASIDE AS THE ORDER U/S 143(3) R.W.S. 263 ITS ELF HAS NO LEGS TO STAND. 3. IN THE RESULT, ASSESSEES APPEAL IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 21 ST JUNE, 2017. SD/- SD/- (S.RIFAUR RAHMAN) ACCOUNTANT MEMBER (P. MADHAVI DEVI) JUDICIAL MEMBER HYDERABAD, DATED 21 ST JUNE, 2017. VINODAN/SPS COPY TO: 1 M/S. KALYANDAS & CO., CAS, 15, VENKATESHWARA COLO NY, NARAYANGUDA, HYDERABAD 500029 2 INCOME TAX OFFICER WARD 7(3) HYDERABAD 3 CIT (A)-10 HYDERABAD 4 PR. CIT 3 HYDERABAD 5 THE DR, ITAT HYDERABAD 6 GUARD FILE BY ORDER