TMI Blog2020 (2) TMI 335X X X X Extracts X X X X X X X X Extracts X X X X ..... nsequential assessment, it was not justified on the part of the Tribunal to have rejected the appeal filed by the appellant against the order passed by the jurisdictional administrative Commissioner under Section 263 of the Act because that was the very foundation of the subsequent assessment proceedings. It would be in the interest of justice, if the delay in fling is condoned and the said appeal is heard on merit by the Tribunal. - INCOME TAX APPEAL NO. 1210 OF 2017 - - - Dated:- 4-2-2020 - UJJAL BHUYAN, MILIND N. JADHAV, JJ. Mr. Farokh Irani a/w. Ms. Rupali Vasaikar i/b. Rajesh Shah Co. for the Appellant. Mr. Tejveer Singh for the Respondent. P.C:- 1. Heard Mr. Irani, learned counsel for the appellant and Mr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0IC of the Act. He was of the further view that the assessment order so made was erroneous and prejudicial to the interest of the revenue. Accordingly, he invoked jurisdiction under Section 263 of the Act and vide order dated 31.03.2014 set aside the assessment order by directing the Assessing Officer to pass fresh assessment order by taxing the interest income earned by the petitioner on the amount covered by the deduction sought for under Section 80IC, under the head income from other sources . 4.3. It is stated that following the order passed by the jurisdictional administrative Commissioner under Section 263 of the Act, the Assessing Officer passed the consequential assessment order dated 09.06.2014. Against the assessment order dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t it was under a bonafide belief that since it had fled appeal against the consequential order of assessment as affirmed by the first appellate authority, its interest would be protected and therefore there was no need to independently challenge the order under Section 263. 7. We feel that when Tribunal had entertained the appeal arising out of the consequential assessment, it was not justified on the part of the Tribunal to have rejected the appeal filed by the appellant against the order passed by the jurisdictional administrative Commissioner under Section 263 of the Act because that was the very foundation of the subsequent assessment proceedings. 8. In the light of the above, we are of the view that it would be in the interest of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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