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2019 (11) TMI 1000 - AT - Income TaxRevision u/s 263 - pendency of issue before the Ld. CIT(A) - HELD THAT:- In the present case there is no dispute with regard to the fact that the same issue i.e. valuation of land is pending consideration of the Ld. CIT(A). Ld. Pr. CIT heavily relied on the explanation (1) to clause (c) to section 263 of the Act. As per this clause, jurisdiction u/s 263(1) of the Act would extend to the matters as had not been considered and decided. Admittedly, the issue has not been decided as the matter is still pending consideration before the Ld. CIT(A) as submitted by the Ld. representatives of the parties. Whether the pendency of issue before the Ld. CIT(A) for consideration would oust the jurisdiction of Ld. Pr. CIT for invoking jurisdiction u/s 263 of the Act, this issue was under consideration before the Hon'ble High Court of Madras in the case of Renuka Philip Vs. ITO [2018 (12) TMI 129 - MADRAS HIGH COURT] wherein the Hon'ble High Court decided the issue against the revenue In the present case as well, the larger issue regarding valuation adopted by the A.O. is pending before the Ld. CIT(A). Therefore, respectfully following the judgement of the Hon'ble Madras High Court, we hold that Ld. Pr. CIT was not justified to invoke the jurisdiction u/s 263(1) of the Act when the similar issue was pending before Ld. CIT(A). Therefore, the impugned order is set aside and the ground raised qua this issue is allowed. Moreover, the revenue has not brought to our notice any other contrary binding precedents. However, it is made clear that the revenue would be at liberty to approach Ld. CIT(A) for expediting disposal of the appeal. The other objections of the assessee are on merit of addition made by the assessing officer.
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