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ITA 47/HYD/2015

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 5854 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 11 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-12-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 28-12-2016
• Assessment Year: 2008-2009
• Appeal Filed On: 08-01-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: G APARNA RAO
• Assessee Lawyers: P MURALI MOHAN RAO
• Section: 143(3)

Judgement Text

ITA NO 47 OF 2016 VIVIMED LABS LTD HYDERABAD PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD B BENCH, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S.RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA NO.47/HYD/2015 (ASSESSMENT YEAR: 2008-09) M/S. VIVIMED LABS LTD HYDERABAD PAN: AAACV 6060 A VS DY. COMMISSIONER OF INCOME TAX, CIRCLE 3(3) HYDERABAD FOR ASSESSEE : SHRI P. MURALI MOHAN RAO FOR REVENUE : SMT. G. APARNA RAO, CIT(DR) O R D E R PER SMT. P. MADHAVI DEVI, J.M. THIS IS ASSESSEES APPEAL FOR THE A.Y 2008-09. IN TH IS APPEAL, THE ASSESSEE IS AGGRIEVED BY THE ORDER OF T HE CIT (A) DISMISSING THE ASSESSEES APPEAL AGAINST THE CONSEQ UENTIAL ORDER PASSED BY THE AO U/S 143(3) R.W.S. 263 OF THE I.T. ACT. 2. AT THE TIME OF HEARING, THE LEARNED COUNSEL FOR THE ASSESSEE HAS BROUGHT TO OUR NOTICE THAT B BENCH O F THIS TRIBUNAL IN ITA NO.1041/HYD/2013 FOR THE A.Y 2008-09 IN ASSES SEES OWN CASE HAS SET ASIDE THE REVISION ORDER PASSED BY THE CIT U/S 263 OF THE I.T. ACT AND THEREFORE, ACCORDING TO HIM, THE C ONSEQUENTIAL ASSESSMENT ORDER HAS NO LEGS TO STAND. A COPY OF TH E SAID ORDER IS PLACED BEFORE US. ON PERUSAL OF THE SAME, WE FIND T HAT THE ORDER U/S 263 OF THE ACT, DATED 31.05.2016 HAS BEEN QUASH ED BY THE DATE OF HEARING : 28.12.2016 DATE OF PRONOUNCEMENT : 30.12.2016 ITA NO 47 OF 2016 VIVIMED LABS LTD HYDERABAD PAGE 2 OF 2 TRIBUNAL AND BOTH OF US ARE SIGNATORY TO THAT ORDER . IN VIEW OF THE SAME, WE HOLD THAT THE CONSEQUENTIAL ASSESSMENT ORD ER PASSED U/S 143(3) R.W.S. 263 IS NOT SUSTAINABLE. 3. IN THE RESULT, ASSESSEES APPEAL IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 30 TH DECEMBER, 2016. SD/- SD/- (S.RIFAUR RAHMAN) ACCOUNTANT MEMBER (P. MADHAVI DEVI) JUDICIAL MEMBER HYDERABAD, DATED 30 TH DECEMBER, 2016. VINODAN/SPS COPY TO: 1 P. MURALI & CO. CAS, 6-3-655/2/3, 1 ST FLOOR, SOMAJI GUDA, HYDERABAD 500082 2 DY. CIT, CIRCLE 3(3) HYDERABAD 3 CIT (A)-IV HYDERABAD 4 CIT III HYDERABAD 5 THE DR, ITAT HYDERABAD 6 GUARD FILE BY ORDER