Pancham Jewellers Private Limited, Patiala V. PCIT Central, Ludhiana

ITA 493/CHANDI/2022

• Counselvise Citation: [2023] 100 COUNSELVISE.COM (IT) 6355 (ITAT-CHANDIGARH)
• Duration Of Justice: 1 year(s) 4 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-10-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 16-10-2023
• Assessment Year: 2017-2018
• Appeal Filed On: 25-05-2022
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Revision of order; Set aside
• Section: 263; 143(3); 153A

Judgement Text

आयकर अपीलीय अिधकरण,च᭛डीगढ़ ᭠यायपीठ “बी” , च᭛डीगढ़ IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH “B”, CHANDIGARH ᮰ी आकाश दीप जैन, उपा᭟यᭃ एवं ᮰ी िवᮓम ᳲसह यादव, लेखा सद᭭य BEFORE: SHRI. AAKASH DEEP JAIN, VP & SHRI. VIKRAM SINGH YADAV, AM आयकर अपील सं./ ITA NO. 493/Chd/2022 िनधाᭅरण वषᭅ / Assessment Year : 2017-18 Pancham Jewellers Private Limited 22, SBS Colony Rajpura, Patiala- 140401- Punjab बनाम The Pr. CIT, Central, Ludhiana ᭭थायी लेखा सं./PAN NO: AADCP5151F अपीलाथᱮ/Appellant ᮧ᭜यथᱮ/Respondent िनधाᭅᳯरती कᳱ ओर से/Assessee by : Shri Deepak Aggarwal, Advocate राज᭭व कᳱ ओर से/ Revenue by : Shri Sarabjeet Singh, CIT, DR सुनवाई कᳱ तारीख/Date of Hearing : 17/10/2023 उदघोषणा कᳱ तारीख/Date of Pronouncement : 19/10/2023 आदेश/Order PER VIKRAM SINGH YADAV, A.M. : This is an appeal filed by the Assessee against the order of the Ld. PCIT(Central) Ludhiana dt. 29/03/2022 pertaining to Assessment Year 2017-18. 2. In the present appeal, the assessee has raised the following grounds: 1. The Ld. CIT has erred in revising the assessment order dated 26.12.2019 on the ground that the assessing officer failed to conduct enquiries during the course of assessment proceedings with regard to the purchases made during the assessment year whereas, as per the assessee the enquiry was properly conducted by the Assessing Officer and therefore the order u/s 263 passed by the CIT may kindly be quashed and set aside being not tenable. 2. The Ld. CIT has erred in revising the assessment order dated 26.12.2019 on the ground that the assessing officer failed to conduct enquiries during the course of assessment proceedings with regard to trade debtors whereas, as per the assessee the enquiry was properly conducted by the Assessing Officer and therefore the order u/s 263 passed by the CIT may kindly be quashed and set aside being not tenable. 3. The assessee craves leave to add or delete any ground(s) before the appeal is finally heard for disposal. 3. During the course of hearing, the Ld. AR submitted that the assessee has challenged the order of Ld. PCIT(Central), Ludhiana dated 29.03.2022. It was submitted that the assessment order passed u/s 153A r.w.s 263 r.w.s 143(3) in pursuance to impugned order dated 29.03.2022 has been passed by the AO accepting the income as computed in the original assessment order dt. 26.12.2019 as such and no variation 2 has been made and order has been passed on 27.03.2023. It was submitted that in view of the same, the present appeal may kindly be disposed off being infructious. 4. The Ld. DR has relied on the order of the Ld. PCIT(Central), Ludhiana passed under section 263 of the Act. It was fairly submitted that the AO has since passed the consequential order dated 27/03.2023 and in view of the same, the Revenue has no objection where the appeal of the assessee is disposed off being infructious. 5. We have heard the rival contentions and perused the material available on the record. In view of the admitted fact that the consequential assessment order pursuant to the impugned order u/s 263 has been passed by the AO accepting the income as computed in the original assessment and in absence of any grievance raised by the assessee, we find that the present appeal has become infructious. The prayer of the assessee is allowed and the appeal so filed is dismissed as infructious. Order pronounced in the open Court on 19/10/2023. Sd/- Sd/- आकाश दीप जैन िवᮓम ᳲसह यादव (AAKASH DEEP JAIN) ( VIKRAM SINGH YADAV) उपा᭟यᭃ / VICE PRESIDENT लेखा सद᭭य/ ACCOUNTANT MEMBER AG Date: 19/10/2023 आदेश कᳱ ᮧितिलिप अᮕेिषत/ Copy of the order forwarded to : 1. अपीलाथᱮ/ The Appellant 2. ᮧ᭜यथᱮ/ The Respondent 3. आयकर आयुᲦ/ CIT 4. आयकर आयुᲦ (अपील)/ The CIT(A) 5. िवभागीय ᮧितिनिध, आयकर अपीलीय आिधकरण, च᭛डीगढ़/ DR, ITAT, CHANDIGARH 6. गाडᭅ फाईल/ Guard File आदेशानुसार/ By order, सहायक पंजीकार/ Assistant Registrar