TMI Blog2020 (8) TMI 434X X X X Extracts X X X X X X X X Extracts X X X X ..... t aside order passed by the Ld.PCIT u/s 263 of the I.T.Act, 1961. Further, once order passed by the Ld.PCIT u/s 263 of the Act, has been set aside, then the assessment order passed by the Ld. AO pursuant to directions of the Ld.PCIT, u/s 143(3) r.w.s. 263 of the I.T.Act, 1961, no longer survives. The Ld.CIT(A) after considering relevant facts has rightly deleted additions made by the Ld. AO. Hence, we are inclined to uphold the findings of the Ld.CIT(A) and dismiss appeal filed by the revenue. - ITA Nos. 1841 & 1842/Mum/2019 - - - Dated:- 20-5-2020 - Shri G. Manjunatha, Accountant Member And Shri Ram Lal Negi, Judicial Member For the Assessee : Shri K. Shivaram, Sr.counsel-AR For the Revenue : Shri Chaudhari Arun Kumar Singh, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich may be necessary. 3. The brief facts of the case are that the assessee company is engaged in the business of manufacturing and trading of POY, Polyester chips and PTY. The assessee has filed its return of income for AY 2011-12 on 25/11/2011, declaring total income of ₹ 149,25,68,140/-. The assessee has, subsequently filed revised return of income on 29/03/2013, declaring total income at ₹ 142,58,31,400/-. The case was selected for scrutiny and draft assessment order u/s 144C(3) r.w.s. 143(3) of the I.T.Act, 1961 was passed on 19/03/2015, determining the total income of ₹ 175,87,36,460/-. The assessee had filed objections against the draft assessment order before DRP-1, Mumbai. The final assessment order has been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Ld. AR for the assessee, as well as the Ld. DR has fairly agreed that the appeal filed by the revenue is not maintainable, because the Ld.CIT(A) has deleted additions made by the Ld. AO, on the basis of 263 order passed by the Ld.PCIT, but the u/s 263 order passed by the Ld.PCIT has been set aside by the ITAT. Therefore, once, revisional order passed by the Ld.PCIT has been set aside by the ITAT, then any consequential order passed by the Ld. AO u/s 143(3) r.w.s. 263 of the I.T.Act, 1961, no longer survives. We find that the ITAT F bench, Mumbai in ITA No. 701/Mum/2018, vide order 16/11/2018 has set aside order passed by the Ld.PCIT u/s 263 of the I.T.Act, 1961. Further, once order passed by the Ld.PCIT u/s 263 of the Act, has been se ..... X X X X Extracts X X X X X X X X Extracts X X X X
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