2016 (2) TMI 44

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.....135/Bang/2013 and C.O.No.66/Bang/2014. 2. The facts in brief: The assessee is a trust constituted under the Major Port Trust Act, 1963. The assessee being a Government undertaking carrying on commercial activities is one of the major port trust enjoying the benefits of provisions of sub-section 20 of Section 10 of the Act since its inception. The assessee applied for registration under Section 12A of the Act on 27.03.2006. The Commissioner of Income Tax (CIT) denied registration to the assessee. On appeal before the ITAT, ITAT directed the CIT to grant registration under Section 12AA to the assessee with effect from 01.04.2003. The order passed by the Tribunal was given effect to by the authorities and registration under Section 12AA was....

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....ginal assessment order cannot be said to have lost its identity?" 2. "Whether Hon'ble Tribunal was right in law in quashing the order of the Commissioner of Income Tax under Section 263 of the Act which is as per law as the provisions of Section 14A are applicable to the total income under the Income tax Act and the fact whether the income of the assessee is computed as per Section 11 or not is of no relevance?". 5. Heard the learned counsel appearing for the parties and perused the material on record. 6. Learned counsel Sri Jeevan J Neeralgi appearing for the revenue contends that the CIT had the power under Section 263 of the Act to revise the assessment order passed on 27.12.2009, the order passed on 27.05.2011 being an order giving ....

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....consideration to the rival submissions advanced by the learned counsel for the parties. The undisputed facts are that the assessment order under Section 143(3) of the Act was passéd by the Assessing Officer on 27.12.2009, subsequent to the registration under Section 12AA of the Act, granted to the assessee on 27.07.2009 with effect from 01.04.2003. The revision filed by the assessee under Section 264 of the Act was allowed accepting the claim of the assessee and the matter was remanded to the Assessing Officer to compute the income of the assessee in terms of the order of revision under Section 264 of the Act. The said order was given effect to by the Assessing Officer vide order dated 27.05.2011. Thus, it is clear that the order dat....