M/s. Tinna Trade Ltd Vs. ACIT, Central Circle-15, New Delhi

Parties Involved

Facts Summary

The appeal in ITA No. 917/Del/2017 for AY 2010-11 arises out of the order passed by the Principal Commissioner of Income Tax, Central-2, New Delhi under section 263 of the Income-tax Act, 1961 dated 27.03.2015. The appeal in ITA No. 6117/Del/2016 arises out of the consequential order passed by the Assessing Officer pursuant to the order passed under section 263 of the Act. The assessee filed an affidavit from its director, stating that the Chartered Accountant who was handling the matter had advised the assessee not to prefer any appeal to this tribunal against the revision order passed under section 263 of the Act. The assessee has challenged the assumption of revision jurisdiction under section 263 of the Act by the Principal Commissioner of Income Tax, both on law as well as on facts. The assessee has also challenged the order of the Principal Commissioner of Income Tax, Central-2, New Delhi by invoking revision jurisdiction under section 263 of the Act. The Tribunal has quashed the revision order passed under section 263 of the Act by the Principal Commissioner of Income Tax, Central-2, New Delhi and allowed the appeal of the assessee in ITA No. 917/Del/2017. Since the revision order itself is quashed, the consequential order passed by the Assessing Officer, which is the subject matter of appeal before the Tribunal in ITA No. 6117/Del/2016, would have no legs to stand.…

Legal Issues

• 1. Assumption of revision jurisdiction by the Principal Commissioner of Income Tax, Central-2, New Delhi under section 263 of the Act
• 2. The order of the Principal Commissioner of Income Tax, Central-2, New Delhi by invoking revision jurisdiction under section 263 of the Act

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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