9911796707
TMI Blog2020 (12) TMI 561X X X X Extracts X X X X X X X X Extracts X X X X ..... learned CIT(A) was justified in allowing the appeal of the assessee company on the technical grounds that the order u/s 263 of the CIT is annulled by the ITAT, without appreciating the factual and legal matrix brought out by the CIT in his order u/s 263. 2. Whether On the facts and in the circumstances of the case and in law, the learned CIT(A) was justified in relying upon the order passed by the ITAT which refers to the assessee's own case for A.Y. 2010-11 and 2011-12 without appreciating the fact that the facts of the current year are different and are concerned to applicability to provisions of section 194H of the Act and rate applicability u/s 194H and not u/s 194J of the Act, which was adjudicated by CIT(A) FOR A.Y. 2010-11 & 2011- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ficer is erroneous and prejudicial to the interests of Revenue as the Assessing Officer has estimated the margin @ 2% instead of 10%. Accordingly, he set aside the order passed under section 201(1)/201(1A) of the Act with a direction to the Assessing Officer to determine the TDS liability by computing the stockiest's margin @ 10% of the gross sales. In pursuance to the direction of learned Commissioner of Income Tax in the order passed under section 263 of the Act, the Assessing Officer passed a fresh order under section 201(1)/201(1A) of the Act on 28th December 2016, raising demand under section 201(1)/201(1A) of the Act by computing the stockiest's margin @ 10% of the gross sales. Against the aforesaid order of the Assessing Officer, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rd August 2018, has held that jurisdiction under section 263 of the Act was wrongly exercised and accordingly set aside the order passed under section 263 of the Act. Thus, when the order passed under section 263 of the Act has lost its existence by virtue of the order of the Tribunal, all proceedings consequent to the order passed under section 263 of the Act would automatically become invalid. That being the case, the impugned order dated 28th December 2016 passed under section 201(1)/201(1A) r/w 263 of the Act will automatically lose its existence. 6. There is one more aspect to the issue. In the course of hearing, the learned Counsel for the assessee has brought to our notice that against the original order passed under section 201(1) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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