Elico Limited, Hyderabad vs Department Of Income Tax

This is Revenue's appeal filed against the order of the Commissioner of Income Tax(Appeals)-III, Hyderabad dated 19-08-2014 wherein Ld.CIT(A) allowed assessee's appeal. Revenue is aggrieved.

2. Briefly stated, assessee-company was assessed u/s.143(3) of the Income Tax Act [Act] and later Ld.CIT invoked jurisdiction u/s.263 and passed orders on 26-03-2012 giving directions to Assessing Officer to re- do the assessment. The impugned order is result of the consequential ITA No. 1682 /Hyd/2014 :- 2 -: M/s.Elico Ltd.,

proceedings. In the mean time, assessee challenged the order u/s.263 before ITAT, Hyderabad and ITAT 'B' Bench, Hyderabad in ITA No.1690/Hyd/2012 dt. 16-07-2014 has set aside the impugned order u/s.263. Consequent to that, CIT(A) held that the consequential order became infructuous, accordingly, there is no need to maintain the present appeal. He allowed assessee's appeal as such.

3. Even though Ld.DR submitted that Revenue is in appeal against the order of 263 before Honourable High Court, therefore, in order to keep the proceedings alive, appeal was preferred, we do not find any merit in the grounds raised by Revenue. Since the order u/s.263 was set aside, consequential order becomes infructuous. The order of CIT(A) is upheld on the facts of the case.

4. In the result, appeal is dismissed.

Order pronounced in open Court on 25th March, 2015.

Sd/- Sd/- (SAKTIJIT DEY) (B. RAMAKOTAIAH) JUDICIAL MEMBER ACCOUNTANT MEMBER

Hyderabad, Dated 25th March, 2015.

TNMM ITA No. 1682 /Hyd/2014 :- 3 -: M/s.Elico Ltd.,

Copy to :

1. Assistant Commissioner of Income Tax, Circle-2(2), 8th Floor, 'B' Block, Room No.824, I.T.Towers, A.C.Guards, Hyderabad.

2. M/s.Elico Ltd., B-90, APIE, Sanat Nagar, Hyderabad.

3. CIT(A)-III, Hyderabad

4. CIT-II, Hyderabad

5. D.R. ITAT, Hyderabad