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TMI Blog2016 (3) TMI 1421X X X X Extracts X X X X X X X X Extracts X X X X ..... ri B. Kurmi Naidu, DR. For the Assessee : Shri P. Murali Mohan Rao, AR. ORDER PER B. RAMAKOTAIAH, A.M. : The Revenue preferred this Miscellaneous Application against the order of ITAT in ITA No. 246/Hyd/2015. The submissions made in the application, itself clearly states the facts and conclusions of the ITAT which the Revenue contends as mistakes apparent from record. Para 3 of the application ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce, requested that the same may kindly be amended as per the provision of Section 254(2) of I.T.Act. The specific grounds on which the ITAT annulled the assessment order are summarized below: I. There was no direction in the order dt. 27.11.2012 justifying the initiation of proceedings u/s. 147. II. Even if such a finding/direction was there, it was illegal and beyond the powers of the Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any merit in application preferred. The moot point in the application is whether the findings in ITA No. 646 and 701/Hyd/2010 in the case of M/s. Madhucon Sino Hydro J.V. by ITAT are 'directions' or 'observations'. Para 12 of the order is as under: "12. In view of our conclusion earlier that the profits of the individual constituents are to be assessed in their individual hands and there is no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le action for bringing the amount to tax in accordance with provisions of the Act". 3. This finding of ITAT was considered by Assessing Officer as direction of the ITAT and without following the due procedure as prescribed under the law initiated proceedings u/s. 163 and 147 of the IT Act. The ITAT in the impugned order ha s held that the same are null and void. While deciding, the ITAT elaborate ..... X X X X Extracts X X X X X X X X Extracts X X X X
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