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2016 (10) TMI 1318 - AT - Income TaxRevision u/s 263 - additions on account of TP adjustment in relation to transaction with AE - The order passed by the CIT u/s. 263 of the act has been challenged by the assessee before the Tribunal in 2016 (7) TMI 1587 - ITAT BANGALORE] quashed the order of the CIT passed u/s. 263 - HELD THAT:- Having carefully examined the order of Tribunal passed in appeal filed against the order of CIT u/s. 263 of act. We are the view that once the order of CIT passed u/s. 263 is quashed, consequential proceedings are not sustainable in the eyes of law. We therefore set aside the order of Assessing Officer as well as CIT(A). Accordingly the appeal of assessee is stands allowed.
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