Lanco Group Limited, Hyderabad, Hyderabad V. ACIT, Circle-16(1), Hyderabad, Hyderabad

ITA 688/Hyd/2017

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 6532 (ITAT-HYDERABAD)
• Duration Of Justice: 4 year(s) 4 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-09-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-B
• Assessment Year: 2012-2013
• Appeal Filed On: 18-04-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: Y V S T SAI
• Assessee Lawyers: P MURALI MOHANA RAO
• Keywords: Rule 8D
• Section: 143(3); 14A; 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD B BENCH, HYDERABAD. BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND SHRI L . P . SAHU, ACCOUNTANT MEMBER (THROUGH VIRTUAL HEARING) ITA NO. 688 /HYD/20 1 7 ( ASSESSMENT YEAR : 2012 - 13) M/S. LANCO GROUP LIMITED, HYDERABAD . PAN AAACL8827D ..APPELLANT. VS. ASST . COMMISSIONER OF INCOME TAX, CIRCLE 16(1), HYDERABAD. ..RESPONDENT. APPELLANT BY : SHRI P. MURALI MOHANA RAO. RESPONDENT BY : SHRI Y.V.S. T. SAI (D.R) DATE OF HEARING : 23.08 . 2021. DATE OF PRONOUNCEMENT : 03 .09 . 2021. O R D E R PER S.S. GODARA J .M. : THIS ASSESSEES APPEAL ARISES FROM THE PR. COMMISSIONER OF INCOME TAX - 4 , HYDERABAD S ORDER DT. 30.03.2017 PASSED IN PROCEEDINGS UNDER SECTION 143(3) R.W.S. 147 OF INCOME TAX ACT, 1961 (THE ACT). HEARD BOTH PARTIES. CASE FILE PERUSED. 2 ITA NO. 688 /HYD/2019 2. IT TRANSPIRES DURING THE COURSE OF HEARING THAT IN CONSEQUENCE TO THE P CITS SECTION 263 ORDER UNDER CHALLENGE, THE ASSESSING OFFICER HAS FRAMED HIS CONSEQUENTIAL ASSESSMENT ON 14.12.2017 IN PROCEEDINGS U/S. 143(3) R.W.S. 263 OF THE ACT WITHOUT MAK ING ANY DISALLOWANCE U/S. 14A R.W. RULE 8D(II) OF THE INCOME TAX RULES. WE THEREFORE HOLD THAT THE ASSESSEE'S INSTANT APPEAL STANDS RENDERED INFRUCTUOUS AS ON DATE. WE ORDER ACCORDINGLY. IT IS FURTHER MADE CLEAR THAT NOTHING SHALL PRECLUDE THE ASSESSEE TO TAKE ALL LEGAL REMEDIES AVAILABLE UNDER THE LAW, IF ANY . 3. THIS ASSESSEE'S APPEAL IS DISMISSED AS RENDERED INFRUCTUOUS IN FOREGOING TERMS. ORDER PRONOUNCED IN THE OPEN COURT ON 3RD SEPT., 2021. SD/ - SD/ - ( L.P. SAHU ) ( S.S. GODARA ) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DT. 03 .09 . 2021. * REDDY GP 3 ITA NO. 688 /HYD/2019 COPY TO : 1. M/S. LANCO GROUP LIMITED, LANCO HOUSE, PLOT NO.4, SOFTWARE UNITS LAYOUT, HITEC CITY, MADHAPUR, HYDERABAD. 2. A CIT, CIRCLE 16(1), HYDERABAD. 3. PR. C I T - 4 , HYDERABAD. 4. ADDL. CIT , RANGE 16, HYDERABAD. 5. DR, ITAT, HYDERABAD. 6. GUARD FILE. BY ORDER SR. PVT. SECRETARY, ITAT, HYDERABAD.