M/s.Rajadhani Jewellers, Kollam V. The ITO, Wd-2, , Alappuzha

ITA 591/COCH/2019

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 9053 (ITAT-COCHIN)
• Duration Of Justice: 2 year(s) 3 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-02-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2015-2016
• Appeal Filed On: 23-10-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 263; 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri George Mathan, JM & Shri B.R. Baskaran, AM ITA No. 591/Coch/2019 (Assessment Year: 2015-16) M/s. Rajadhani Jewellers Regency Building Karunagappally P.O. Kollam 690518, Vs. Income Tax Officer Ward -2 Alappuzha PAN – AAHFR8484Q Appellant Respondent Appellant by: Shri R. Krishna, CA Respondent by: Shri V Roy Jose, CIT-DR Date of Hearing: 10.02.2022 Date of Pronouncement: 10.02.2022 O R D E R Per: George Mathan, JM This is an appeal filed by the assessee against the order passed under Section 263 of the Income Tax Act, 1961 by the Principal Commissioner of Income Tax, Kottayam in F.No. Pr.CIT/Ktm/Tech/263(10)/2019-20 dated 08.08.2019 for AY 2015-16. 2. Shri R. Krishnan, CA represented the assessee and Shri V. Roy Jose, CIT-DR represented Revenue. 3. It was submitted by the learned A.R. that the order under Section 143(3) of the Act came to be passed on 10.03.2017. Consequently the time limit for passing order under Section 263 of the Act was 31.03.2019. It was submitted that the order under Section 263 of the Act was passed on 08.08.2019 and was consequently barred by limitation. 4. In reply the learned D.R. vehemently supported the order of the Principal CIT passed under Section 263 of the Act. ITA No. 591/Coch/2019 M/s. Rajadhani Jewellers 2 5. We have considered the rival contentions. A perusal of the order under Section 263 of the Act shows that the revision under Section 263 of the Act is in respect of an order passed under Section 143(3) of the Act on 10.03.2017 and the time limit expired on 31.03.2019. The impugned order under Section 263 of the Act having been passed on 08.08.2019 clearly is barred by limitation. Consequently the order under Section 263 of the Act stands quashed on account of being barred by limitation. 6. In the result, the appeal filed by the assessee is allowed. Dictated and pronounced in the open Court on 10 th February, 2022. Sd/- Sd/- (B.R. Baskaran) (George Mathan) Accountant Member Judicial Member Cochin, Dated: 10 th February, 2022 Copy to: 1. The Appellant 2. The Respondent 3. The Pr.CIT - Kottyam 4. The DR, ITAT, Cochin 5. Guard File By Order //True Copy// Assistant Registrar ITAT, Cochin n.p.