Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (7) TMI 957 - AT - Income TaxRevision u/s 263 by CIT - Validity of Reopening of assessment u/s 147 - HELD THAT:- We do not justify the remand order to be sustainable particularly when the appeal has been preferred by the assessee against the said order passed by the Ld. AO. We further note that the CIT(A) is yet to decide the order either way and therefore, we do not find any reason to initiate and proceed against the said order passed by the AO u/s 147 taking recourse of the provision of law u/s 263 of the Act by holding the order passed by the Ld. AO erroneous and prejudicial to the interest of Revenue. In our considered opinion, the same is premature. In this regard, we have also considered the judgment passed by the Allahabad High Court in the case of CIT, Meerut vs. Vam Resorts & Hotels Pvt. Ltd. [2019 (8) TMI 1418 - ALLAHABAD HIGH COURT] as relied upon by the A.R. We find that on the identical situation the Hon’ble Court was pleased to quash the order passed under Section 263. During the pendency of the appeal preferred by the assessee u/s 250 while upholding the order passed by the Tribunal in holding the order exercising power under Section 263 was barred by Clause (c) of Explanation 1 of Section 263 . Thus reason/basis of the impugned proceeding u/s 263 of the Act when the appeal preferred by the assessee under Section 250 of the Act before the CIT(A) is pending against the order passed by the Ld. AO under Section 147 of the Act which has been sought to be revised by the Ld. PCIT in the garb of the provision of Clause (c) of Explanation 1 of Section 263 of the Act. The same is, thus, found to be unsustainable and therefore, quashed. Assessee’s appeal is, therefore, allowed.
|