The ACIT, Circle-3, Ahmedabad V. P.T.Steel Industries, Ahmedabad

ITA 3402/AHD/2010

• Counselvise Citation: 340220514 RSA 2010
• Duration Of Justice: 3 year(s) 2 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-03-2014
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Next Hearing Date: 18-03-2014
• Assessment Year: 2003-2004
• Appeal Filed On: 24-12-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K C MATHEWS SRDR
• Section: 143(3); 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD D BENCH AHMEDABAD , , , , BEFORE SHRI D.K.TYAGI , JUDICIAL MEMBER AND .., SHRI T.R. MEENA, ACCOUNTANT MEMBER !.. , ' # $ # $ # $ # $ ITA NO. 3402/AHD/2010 ASSESSMENT YEAR :2003-04 A.C.I.T., CIRCLE-3, AHMEDABAD. V/S . M/S. P. T. STEEL INDUSTRIES 95,96,97, GVMM. ESTATE, ODHAV, AHMADABAD. PAN NO. A ACFP3342G (APPELLANT) .. (RESPONDENT) %& ' ( / BY APPELLANT SHRI K. C. MATHEWS, SR.D.R. )%& ' ( /BY RESPONDENT SHRI MANISH J. SHAH, A.R. *+, ' -' /DATE OF HEARING 18.03.2014 ./0 ' -' /DATE OF PRONOUNCEMENT 21.03.2014 O R D E R PER : SHRI T.R.MEENA, ACCOUNTANT MEMBER THIS IS AN APPEAL AT THE BEHEST OF REVENUE WHICH HA S EMANATED FROM THE ORDER OF CIT(A), GANDHINAGAR, DATED 29.10.2010 FOR ASSESSMENT YEAR 2003-04. THE SOLE GROUND OF REVENUES APPEAL IS AG AINST SETTING ASIDE THE ORDER PASSED BY THE A.O. IN VIEW OF THE ITATS ORDE R DATED 15.10.2010. 2. IN THIS CASE, THE ASSESSEE FILED RETURN ON 30.11 .2003 DECLARING TOTAL INCOME OF RS.14,14,471/-. THEREAFTER, ASSESSMENT U /S. 143(3) OF THE ACT WAS COMPLETED ON 29.03.2006 DETERMINING ASSESSED INCOME AT RS.22,14,470/-. SUBSEQUENTLY, THE LD. CIT, AHMEDABAD-I, VIDE HIS OR DER DATED 05.11.2007 PASSED ORDER U/S. 263 OF THE IT ACT AND THE ASSESSM ENT FOR A.Y. 03-04 WAS SET ASIDE WITH A DIRECTION TO FRAME ASSESSMENT ORDE R AFRESH IN ACCORDANCE WITH LAW. SUBSEQUENTLY, ORDER U/S. 143(3) R.W.S. 2 63 WAS PASSED ON ITA NO. 3402/AHD/10 A.Y. 03-04 ACIT VS. M/S. P. T. STEEL INDUSTRIES PAGE 2 29.12.2008 AT TOTAL INCOME OF RS.1,43,55,461/-. TH E ASSESSEE CHALLENGED THE ORDER PASSED BY THE LD. CIT, AHMEDABAD-I, U/S. 263 BEFORE THE ITAT, WHICH HAS BEEN SET ASIDE BY THE HONBLE ITAT VIDE ITS ORDER DATED 15.10.2010 AND QUASHED THE ORDER U/S. 263 OF THE AC T. THE LD. A.O. PASSED ORDER U/S. 143(3) R.W.S. 263 ON 05.11.2007 FOR A.Y. 03-04 WHEREAS HONBLE ITAT HAD DECIDED THE APPEAL OF THE ASSESSEE AGAINST 263 ORDER ON 15.10.2010. WHEN 263 ORDER HAS BEEN SET ASIDE BY T HE HONBLE ITAT, THE LD. A.OS. ORDER DATED 05.11.2007 HAS BECOME INFRUCTUOU S. THUS, REVENUES APPEAL DESERVES TO BE DISMISSED. 3. LD. SR. D.R. FAIRLY ADMITTED THE FACTS OF THE CA SE. THEREFORE, WE DO NOT FIND ANY REASON IN APPEALING THE ORDER OF THE CIT(A ) AS ITAT HAS ALREADY QUASHED THE 263 ORDER IN ITA NO.4500/AHD/2007 FOR A .Y. 2003-04, DATED 15.10.2010. THUS, A.OS. ORDER HAS BECOME INFRUCTU OUS. 4. IN THE RESULT, REVENUES APPEAL IS DISMISSED. THIS ORDER PRONOUNCED IN OPEN COURT ON 21.03.2014 SD/- SD/- ( D.K.TYAGI ) (T.R. MEENA) JUDICIAL MEMBER ACCOUNTANT MEMBER TRUE COPY S.K.SINHA 1 1 1 1 ' '' ' )-2 )-2 )-2 )-2 320- 320- 320- 320- / COPY OF ORDER FORWARDED TO:- 1. %& / APPELLANT 2. )%& / RESPONDENT 3. - *7 / CONCERNED CIT 4. *7- / CIT (A) 5. 2; )-+ , , / DR, ITAT, AHMEDABAD 6. = >? / GUARD FILE. BY ORDER/ 1 , @/ B , $