Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (3) TMI 144 - AT - Income TaxRevision u/s 263 - AO allowed exemption under section 54F instead of section 54 - assessee has filed appeal against the same issues before Ld. CIT(Appeals) u/s 250 of the Act and the same are pending adjudication - HELD THAT:- Assessee filed an appeal against said order, since larger issue was pending before Commissioner (Appeals), Commissioner could not invoke jurisdiction under section 263 against said order of Assessing Officer on account of statutory bar. In the case of CIT v. Vam Resorts & Hotels (P.) Ltd [2019 (8) TMI 1418 - ALLAHABAD HIGH COURT] when an appeal is pending before Commissioner (Appeals), exercise of jurisdiction under section 263 by Commissioner would be barred. The ITAT Rajkot in the case of Parin Furniture Ltd.[2022 (7) TMI 957 - ITAT RAJKOT] held that when an appeal is preferred by the assessee under section 250 of the Act before CIT Appeals is pending against order passed by the learned AO under section 147 of the Act, the same cannot be revised under section 263 of the Act. Since the issues in respect of which 263 proceedings were initiated are pending adjudication before Ld. CIT(Appeals) in appeal filed by the assessee under section 250 of the Act, the Principal CIT cannot proceed to simultaneously assume jurisdiction with respect to those very same issues which are under consideration before CIT(Appeals). Accordingly, in view of the above observations and in light of judicial precedents highlighted above, we are of the considered view that the order passed by Principal CIT is unsustainable and is therefore set aside. Appeal of the assessee is allowed.
|