Dy. CIT, Circle-2(1), Vijayawada v. M/s. Sri Sai Lakshmi Constructions & Co
[Citation -2016-LL-0926-63]
| Citation | 2016-LL-0926-63 |
|---|---|
| Appellant Name | Dy. CIT, Circle-2(1), Vijayawada |
| Respondent Name | M/s. Sri Sai Lakshmi Constructions & Co. |
| Court | ITAT-Visakhapatnam |
| Relevant Act | Income-tax |
| Date of Order | 26/09/2016 |
| Assessment Year | 2009-10 |
| Judgment | View Judgment |
| Keyword Tags | revisionary order |
| Bot Summary: | When this appeal is taken up for hearing, the Ld. Counsel for the assessee has submitted that the basis for the consequential order passed by the A.O. u/s 143(3) r.w.s. 263 of the Income Tax Act, 1961 is quashed by the ITAT in ITA No.175/Vizag/2014 dated 5.12.2014. We find that the Ld. CIT(A) has observed that the order under appeal was passed in pursuant to the directions of the CIT(A), Vijayawada vide order u/s 263 of the Act, the said revisionary order which was the basis for the order under appeal was quashed by the ITAT vide order dated 15.12.2014 and the assessment order passed consequential u/s 143(3) r.w.s. 263 of the Act has no legal sanctity to exist and annulled the order passed u/s 143(3) r.w.s. 263 of the Act and decided in favour of the assessee. In the result, the appeal filed by the revenue is dismissed. The above order was pronounced in the open court on 26th Sept 16. |