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2014 (5) TMI 939 - HC - Income TaxRevision u/s 263 - Liability to deduct TDS u/s 194C of the Act – Payment made to transport contractors – ITAT rejected the order of revision u/s 263 passed by the CIT remanding the matter back to AO - appeal of the assesseee against the original assessee is still pending before CIT(A) - Held that:- CIT had in fact by the order under Section 263 remanded the matter directing the Assessing Officer to make the assessment afresh which the CIT was entitled to do. The learned Tribunal erred in not taking into account the order passed by the CIT in its entirety. The CIT has demonstrated reasons as to why is the order of the Assessing Officer erroneous and prejudicial to the interest of the revenue. It is the substance and not the form of the order which is material. We are as such unable to agree with the views expressed by the learned Tribunal. The apprehension expressed by the assessee, that in the event the order of the Tribunal is set aside, the pending appeal by the assessee against the order of assessment would become nugatory, is also without any foundation - The appeal preferred by the assessee stood automatically allowed by the order of the CIT u/s 263 of the Act - the object of the assessee was achieved - order of CIT restored – Decided in favour of Revenue.
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