Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (11) TMI 1277 - AT - Income TaxDisallowance of deduction under section 35D - amortization of expenditure incurred on Initial Public Offer of Equity Shares - revision u/s 263 - Held that:- Tibunal has already held, on merits as well, that the assessee is not eligible to claim deduction u/s 35D. After this order from the Tribunal in assessee’s own case, for this very assessment year, the issue under consideration i.e. allowability of claim u/s 35D, has attained ‘fait accompli’. In our considered view, this issue is no more open before us for our consideration. Ld. CIT had directed the AO in his order passed u/s 263, to make disallowance of deduction u/s 35D claimed by the assessee. The action of passing the impugned assessment order, by the AO u/s 143(3), in pursuance to revision order passed by the Ld CIT u/s 263, was merely a ministerial task, to give effect to the said revision order of Ld CIT. In fact, Ld CIT(A) has rightly upheld the impugned assessment order, without even going deep into merits. Even before us, in our considered opinion, this issue is no more open for our adjudication, especially after it has been sealed by the Tribunal in its order. The assessee may have had some legal grievances against the order passed u/s 263, but, once the same was confirmed by the Tribunal, the right forum for hearing of these grievances would be before Hon’ble High Court. The law does not permit us to go into this issue, at this stage. - Decided against assessee.
|