TMI Blog2022 (1) TMI 1191X X X X Extracts X X X X X X X X Extracts X X X X ..... Pvt. Ltd. [ 2021 (7) TMI 283 - ITAT NAGPUR ]. Thus by following the order of the Coordinate Bench of this Tribunal above, we quash the impugned order passed U/s. 263 of the Act and the assessment framed by the A.O. U/s. 143(3) of the Act is upheld. - Decided in favour of assessee. - ITA No. 62/NAG/2021 - - - Dated:- 17-1-2022 - Sandeep Gosain, Member (J) And O.P. Kant, Member (A) For the Appellant : Mahavir Atal, CA For the Respondents : Pradeep Hedaoo, CIT-DR ORDER Per Sandeep Gosain, JM 1. This appeal has been filed by the assessee against the order of the ld. Pr. C.I.T.-2 Nagpur dated 25/02/2021 passed U/s. 263 of the Income Tax Act, 1961 (in short, the Act) for the A.Y. 2016-17, wherein following grounds ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vides 60 days from the date of service of order of Commissioner of Income Tax appeals for filing appeal before the Income Tax Appellate Tribunal. In this case order has been received by the Appellant on 25/02/2021 and the appeal was filed on 28/06/2021 i.e. beyond the limit provided by the statute. However, the Hon'ble Supreme Court vide the order dated 27/04/2021 in Miscellaneous Application No. 665/2021 has extended the period of limitation as prescribed under any general or special laws in respect of all judicial or quasi judicial proceedings till the further orders. The Hon'ble Supreme Court has further adjourned the case to 19/07/2021. Therefore, the period of limitation from 01/03/2020 to 19/07/2021 has bee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the present appeal within the prescribed time. 5. In case of Collector, Land Acquisition, Anantnag Anr. Vs. Mst. Katiji and others (1987) 2 SCC 107, the Hon'ble Supreme Court has held that the expression 'Sufficient Cause' employed by the legislature is adequately elastic to enable the Courts to apply the law in a meaningful manner to sub-serves the ends of justice that being the life-purpose of the existence of the institution of Courts. It was further held by the Hon'ble Supreme Court that such liberal approach is adopted on one of the principles that refusing to condone delay can result in a meritorious matter being thrown out at the very threshold and cause of justice being defeated. As against this, when delay ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 253(5) of the Act, we hereby condone the delay in filing the present appeal as we are satisfied that there was sufficient cause for not presenting the appeal within the prescribed time and the appeal is hereby admitted for adjudication on merits. 7. The brief facts of the case are that the assessee is engaged in the business of trading and civil contracts. In this case the return of income has been electronically furnished by the assessee on 16.10.2016 declaring total income of ₹ 3,52,44,910/-. The case was selected for scrutiny through CASS under the category of Limited Scrutiny and statutory notices were issued and served upon the assessee. Finally the assessment was completed U/s. 143(3) of the Act on 01/12/2018 by accepting t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10. On the other hand, the ld. CIT-DR has vehemently supported the order of the ld. Pr. CIT but could not rebut the facts and submissions made by the ld. AR. 11. We have considered the rival contentions and carefully perused the material placed on record. From perusal of the record we observed that the assessment order has been set aside as the ld. PCIT was of the opinion that the Assessing Officer has erred in not referring case of the assessee to the Transfer Pricing Officer. It is undisputed fact that the issue involved in the present appeal is for A.Y. 2016-17. Vide Finance Act, 2017 the Statute was amended by the Legislature, wherein clause (i) of section 92BA was omitted from the statute and the said omission of section is applic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessment year 2014-15 ii) M/s. Raipur Steel Casting India Pvt. Ltd. Vs. Pr. CIT, ITA No. 895/Kol/2019 for the assessment year 2014-15 iii) M/s. Bhartia-SMSIL (JV) Vs. ITO, ITA No. 117/Gau/2019 for the assessment year 2014-15 18. Therefore, without even going into the merits of the order passed u/s. 263 of the Act, on this legal ground itself, we hold that the exercise of jurisdiction u/s. 263 of the Act by the Ld. Pr. Commissioner of Income Tax was void and not legally valid and hence, the impugned order is hereby quashed. Since, identical issue has already been decided by the Coordinate Bench of this Tribunal in ITA No. 88/Nag/2020 order dated 05/07/2021, therefore, by following the order of the Coordinate Bench of ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
