THE INDIAN HOTELS COMPANY LTD, MUMBAI V. ITO 1(2)(2),

ITA 3959/MUM/2017

• Counselvise Citation: [2023] 102 COUNSELVISE.COM (IT) 0338 (ITAT-MUMBAI)
• Duration Of Justice: 6 year(s) 5 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-11-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Next Hearing Date: 31-10-2023
• Assessment Year: 2012-2013
• Appeal Filed On: 29-05-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI SANDEEP SINGH KARHAIL, JM ITA No. 3959/Mum/2017 (Assessment Year: 2012-13) The I ndi an H ot el s C om pany Ltd. (S ucc ess or t o Lands End Pr opert i es P vt. Lt d. ) Mandl ik H ous e, 3 rd Fl oor, Mandl ik R oad, C ol aba, Mum bai-400 001 Vs. Commissioner of Income Tax-I, Aayakar Bhavan, Mumbai (Appellant) (Respondent) PAN No. AAACT3957G Assessee by : Shri Aditya Ramachandran, CA Revenue by : Shri Biswanath Das-CIT DR Date of hearing: 01.11.2023 Date of pronouncement : 20.11.2023 O R D E R PER PRASHANT MAHARISHI, AM: 01. In this case reference was made by the Hon'ble President as per order dated 4 th July, 2023 on the draft question that whether in the particular facts and circumstances of the case, the initiation and completion of proceedings under Section 263 of the Income-tax Act, 1961 (the Act) in the name of the Lands End Properties Pvt. Ltd can be said to be valid considering the fact that it is amalgamation with Indian Hotels Company Pvt. Ltd., was approved by the Hon'ble Bombay High Court much prior to the initiation of proceedings under Section 263 of the Act. Page | 2 ITA No.3959/Mum/2017 The Indian Hotels Company ltd; A.Y. 2012-13 02. On the reference the learned third Member has passed the order on 30 th August, 2023, and therefore, the effect of the Third Members order is required to be given. 03. The learned Third Member concurred with view taken by the learned Judicial Member that the impugned order passed by the Principal Commissioner of Income Tax in the name of amalgamating company despite specific intimation is invalid in law and deserves to be quashed. 04. In view of the above decision of the learned Third Member, the impugned order passed under Section 263 of the Act dated 29 th March, 2017 is quashed. 05. In the result, the appeal of the assessee is allowed in terms of ground no.2 decided by the Third Member. 06. As the revisionary order passed under Section 263 of the Act is quashed all other grounds in the appeal are academic in nature. 07. In the result, the appeal of the assessee is allowed. Order pronounced in the open court on 20.11.2023. Sd/- Sd/- (SANDEEP SINGH KARHAIL) (PRASHANT MAHARISHI) (JUDICIAL MEMBER) (ACCOUNTANT MEMBER) Mumbai, Dated: 20.11. 2023 Sudip Sarkar, Sr.PS Page | 3 ITA No.3959/Mum/2017 The Indian Hotels Company ltd; A.Y. 2012-13 Copy of the Order forwarded to: 1. The Appellant 2. The Respondent 3. CIT 4. DR, ITAT, Mumbai 5. Guard file. BY ORDER, True Copy// Sr. Private Secretary/ Asst. Registrar Income Tax Appellate Tribunal, Mumbai