Covalent Labortories Private Limited , Hyderabad V. Dy. Commissioner of Income Tax , Circle-1(2), Hyderabad

ITA 465/Hyd/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 9704 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 11 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-03-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB-B
• Assessment Year: 2014-2015
• Appeal Filed On: 01-04-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: Y V S T SAI; ROHIT MAJUMDAR D RS
• Assessee Lawyers: P MURALI MOHANA RAO
• Keywords: Set aside
• Section: 143(3); 201; 154

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD B BENCH, HYDERABAD. BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER (THROUGH VIRTUAL HEARING) ITA NO. 465 /HYD/201 9 (ASSESSMENT YEAR : 201 4 - 15 ) M/S. COVALENT LABORATORIES PRIVATE LIMITED, 8 - 3 - 677/18, 2 ND FLOOR, SKD NAGAR, YELLAREDDYGUDA, HYDERABAD - 500 073 PAN AABCC 9544R VS. DY. COMMISSIONER OF INCOME TAX, CIRCLE 1(2), HYDERABAD. APPELLANT RESPONDENT APPELLANT BY : SHRI P. MURALI MOHANA RAO. RESPONDENT BY : SHRI YVST SAI & SHRI ROHIT MAJUMDAR (D.RS) DATE OF HEARING : 10.02.2021 . DATE OF PRONOUNCEMENT : 17 .03. 2021. O R D E R PER SHRI S.S. GODARA, J.M. : THIS ASSESSEES APPEAL FOR THE ASST. YEAR 2014 - 15 ARISES FROM THE COMMISSIONER OF INCOME TAX (APPEALS) - 1, HYDERABAD S ORDER DT. 10.01.2019 PASSED IN THE CASE NO. 10071/18 - 19/DCIT, CIRCLE 1(2)/CIT(A) - 1/HYD/2018 - 19 , IN VOLVING PROCEEDINGS U/S. 154 OF THE INCOME TAX ACT, 196 1 ('THE ACT') . HEARD BOTH THE PARTIES . C ASE FILE PERUSED. 3. IT TRANSPIRES AT THE OUTSET THAT THE ASSESSEE HAS CHALLENGED CIT(A) S LOWER APPELLATE ORDER FOR THE SOLE REASON THAT HE HAD ALREADY DECIDED SEC. 143(3) APPEAL PROCEEDINGS ON 19.12. 2017 AND THEREFORE, ITS RECTIFICATION U/S. 154 CARRIED NO SUBSTANCE. WE NOTICE IN THIS 2 ITA NO. 465/BANG/2019 FACTUAL BACK DROP THAT THIS TRIBUNAL CO - ORDINATE BENCHS ORDER IN ASSESSEE'S APPEAL IN SEC.;143(3) ASSESSMENT IN ITA NO.891/H YD/2018 HAS ALREADY SET ASIDE THE MAIN ISSUE (S) BACK TO THE ASSESSING OFFICER VIDE ORDER DT.24.11.2020. WE, THEREFORE, ARE OF THE OPINION THAT THE ASSESSEES INSTANT APPEAL ARISING U/S. 154 ISSUE MUST ALSO FOLLOW S SUIT AS THE NECESSARY COROLLARY. THE ASSESSING OFFICER IS DIRECTED TO TAKE UP THE ISSUE OF ASSESSEE'S RECTIFICATION ALONG WITH HIS CONSEQUENTIAL ADJUDICATION U/S. 143(3) R.W.S. 2 54 PROCEEDINGS AS PER LAW. ORDERED ACCORDINGLY. 4. THIS ASSESSEE'S APPEAL IS ALLO WED FOR STATISTICAL PURPOSES IN ABOVE TERMS. ORDER PRONOUNCED IN THE OPEN COURT ON 17TH MARCH, 2021. SD/ - SD/ - (LAXMI PRASAD SAHU) (S.S. GODARA) ACCOUN TANT MEMBER JUDICIAL MEMBER HYDERABAD, DT. 17. 03.2021. * REDDY GP COPY TO : 1. M/S. COVALENT LABORATORIES PRIVATE LIMITED,8 - 3 - 677/18, 2 ND FLOOR, SKD NAGAR, YELLAREDDYGUDA, HYDERABAD - 500 073 2. DCIT, CIRCLE 1(2), HYDERABAD. 3. PR. C I T - 1 , HYDERABAD. 4. CIT(APPEALS) - 1, HYDERABAD. 5. DR, ITAT, HYDERABAD. 6. GUARD FILE. BY ORDER SR. PVT. SECRETARY, ITAT, HYDERABAD.