Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (7) TMI 558 - AT - Income TaxRevision u/s 263 - period of limitation - order u/s. 153A/143(3) held by the Pr. CIT to be erroneous - HELD THAT:- No addition in absence of any incriminating material can be made in respect of unabated assessment of the assessee, we are of a strong conviction that now when the A.O could not have made an addition on the basis of which his order u/s. 153A/143(3) of the Act had been held by the Pr. CIT to be erroneous, therefore, the very assumption of jurisdiction by the Pr. CIT u/s. 263 of the Act, on the said count, being bad in law is liable to be vitiated. As relying on Alagendran Finance Ltd. [007 (7) TMI 304 - SUPREME COURT] Pr. CIT in the case of the present assessee before us was only vested with the jurisdiction to have revised the reassessment order that was passed by the A.O u/s. 143(3)/147 of the Act dated 23.12.2018. As the aforesaid order u/s. 143(3)/147 dated 23.12.2018 could have been revised u/s. 263 latest by 31.03.2021, which had lapsed way back, therefore, even the said remedy would not be available with the Pr. CIT. Pr. CIT had clearly exceeded his jurisdiction u/s. 263 of the Act and had wrongly revised the order passed by the A.O u/s. 153A/143(3) - Decided in favour of assessee.
|