M/s India Finance Limited, Kolkata V. DCIT, Cen. Cir-VIII, Kolkata, Kolkata

ITA 48/KOL/2014

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 92003 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 5 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-06-2015
• Appeal Filed By: Assessee
• Bench Allotted: C
• Assessment Year: 2007-2008
• Appeal Filed On: 10-01-2014
• Court: TRIBUNAL
• Department Lawyers: AMITABH ROY
• Assessee Lawyers: MANOJ KATARUKA
• Section: 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: KOLKATA [BEFORE SHRI MAHAVIR SINGH, JM & SHRI B. P. JAIN, AM ] I.T.A NO. 48 /KOL/201 4 ASSESSMENT YEAR : 200 7 - 0 8 M/S. INDIA FINANCE LTD. VS. DEPUTY COMMISSIONER OF INCOME - TAX - (PAN: AA ACI5527M ) CENTRAL CIRCLE - VIII , KOLKATA. ( APPELLANT ) ( RESPONDENT ) DATE OF HEARING: 1 6 .0 6 .2015 DATE OF PRONOUNCEMENT: 16 . 0 6 . 2015 FOR THE APPELLANT: SHRI MANOJ KATARUKA , ADVOCATE FOR THE RESPONDENT: S HRI AMITABH ROY, ADDL. CIT ORDER PER SHRI MAHAVIR SINGH, JM: THIS APPEAL BY ASSESSEE IS ARISING OUT OF ORDER OF CIT (A) , CENTRAL - 1 , KOLKATA , IN APPEAL NO. 44 / CC - VIII/CIT(A)C - 1/13 - 14 DATED 0 2 . 09 .201 3 . ASSESSMENT WAS FRAMED BY D CIT, CC - VIII , KOLKATA U/S. 14 3(3)/263 OF THE INCOME - TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT ) FOR ASSESSMENT YEAR 200 7 - 0 8 VIDE HIS ORDER DATED 1 9 . 03 .20 13 . 2. AT THE OUTSET, LD. COUNSEL FOR THE ASSESSEE STATED THAT THE TRIBUNAL HAS QUASHED THE REVISION PROCEEDING INITIATED BY CIT U/S. 263 OF THE ACT VIDE ITA NO.252/KOL/2012 ORDER DATED 11.12.2014. LD. COUNSEL FOR THE ASSESSEE STATED THAT THIS APPEAL IS AGAINST THE CONSEQUENTIAL ORDER PASSED BY AO AND THE APPELLATE ORDER OF CIT(A). ONCE THE REVISION ORDER U/S. 263 OF THE ACT OF T HE CIT IS QUASHED THE CONSEQUENTIAL ORDER CANNOT BE SURVIVED. HENCE, LD. COUNSEL FOR THE ASSESSEE REQUESTED THAT THIS APPEAL BE TREATED AS INFRUCTUOUS. LD. DR HAS NOT OBJECTED TO THE SAME AND HE STATED THAT YES TRIBUNAL HAS QUASHED THE REVISION ORDER OF CIT PASSED U/S. 263 OF THE ACT. IN VIEW OF THE ABOVE FACTS AND CIRCUMSTANCES OF THE CASE, WE DISMISS THE APPEAL OF ASSESSEE BEING INFRUCTUOUS. 3 . IN THE RESULT, APPEAL OF ASSESSEE IS DISMISSED BEING INFRUCTUOUS. 4 . ORDER IS PRONOUNCED IN THE OPEN COURT . SD/ - SD/ - ( B. P. JAIN ) (MAHAVIR SINGH) ACCOUNTANT MEMBER J UDICIAL MEMBER DATED : 1 7 TH JUNE , 201 5 JD.(SR.P.S.) COPY OF THE ORDER FORWARDED TO: 1. M/S. INDIA FINANCE LTD., 5, RUSSEL STREET (1 ST FLOOR), KOLKATA - 700 071 . 2. DCIT, C. C - VIII , KOLKATA. 3. CIT(A) , KOLKATA. 4. CIT, KOLKATA 5. DR, ITAT, KOLKATA. TRUE COPY BY ORDER ASSISTANT REGISTRAR,