2025 (9) TMI 430

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....ereby revising the assessment order framed u/s 143(3) / 144C of the Act dated 04.06.2021 by ignoring the fact that the said order was neither erroneous nor prejudicial to the interest of the Revenue. 03. The facts in brief are that the assessment order u/s 143(3) read with section 144C(3) read with section 144B of the Act was passed on 04.06.2021 by the National Faceless Appeal Centre, Delhi [the learned AO], assessing the total income of the assessee at Rs. 16,46,82,464/- under the normal provisions and at Rs. 62,11,56,146/- u/s 115JB of the Act. On perusal of the said assessment records the ld. PCIT noted that the assessment as framed by the ld. AO is erroneous in so far as prejudicial to the interest of the Revenue for two reasons nam....

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.... this issue. Secondly, the assessee submitted before the ld. PCIT that the claim of brought forward unabsorbed losses/ depreciation was correctly made as per the orders passed by the ld. AO giving the appeal effect to the appellate orders. The ld. PCIT by rejecting the reply of the assessee revised the assessment order by directing the ld. AO to pass a fresh assessment order denovo after carrying out the detailed verification of these two issues after affording reasonable opportunity of hearing to the assessee. 04. The ld. AR vehemently submitted before us that so far as the first issue of excess claim of depreciation at the rate of 50% by the assessee on the plant and machinery is concerned, the same was correctly claimed by the assesse....

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....he ld. AR submitted that even on that account also there is no mistake in the claim in respect of brought forward, unabsorbed losses/depreciation against the current year income as the same is as per the orders passed by the ld. AO giving appeal effect to various appellate orders. The ld. AR submitted that in fact the ld. PCIT has wrongly taken the figures as per the assessment orders whereas as the matter of fact these unabsorbed losses and depreciation were finally determined by the ld. AO giving appeal effect to various appeal orders. The ld. AR however submitted that if at all any verification is required the issue may be directed to be examined by the ld. AO and allow the correct amounts as per the orders passed by the ld. AO while giv....