2025 (12) TMI 410

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..../2024 for the Assessment Years (A.Y.) 2018-19 & 2019-20 respectively passed under his revisional jurisdiction u/s 263 of the Income Tax Act, 1961 (hereinafter referred to as 'the Act'). 2. As the facts involved in the two appeals were identical, both the matters were heard together and are being disposed of vide this common order for the sake of convenience. We will first take the appeal in ITA No. 1116/Ahd/2024 for the AY 2019-20. ITA No. 1116/Ahd/2024 3. The brief facts of the case are that the assessee M/s Reliance Infratel Ltd. (since acquired by the assessee) had filed its return of income for A.Y. 2019-20 on 31.10.2019 at loss of Rs. 900,42,58,732/-. The case was selected for scrutiny and the assessment was completed under se....

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....Infratel Ltd. (RITL), revising the assessment order dated 28/09/2021 passed u/s 143(3) of the Act. He explained that RITL was acquired by the assessee vide order of the NCLT, Mumbai Bench dated 3rd December 2020 and the resolution plan was implemented from effective date of 22.12.2020. The financial year corresponding to the assessment year in the present appeal, pertained to a period prior to the effective date but the assessment order was passed subsequent to the order of the NCLT. Therefore, the assessee had challenged the validity of the assessment order before the Hon'ble Bombay High Court in a Writ Petition. The Ld. AR submitted the Hon'ble Bombay High Court vide order dated 14th October 2025 had allowed the assessee's writ petition a....

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....d extinguished. The Hon'ble Bombay High Court vide order dated 14th October 2025, a copy of which has been brought on record, has accordingly quashed the assessment order dated 28th September 2021 by observing that: (i) the assessment order was passed on 28th September 2021, after approval of Resolution Plan by the NCLT on 3rd December 2020; and (ii) the concerned financial year was falling in period prior to the effective date of resolution plan i.e. 22nd December 2020. 7. Since the assessment order dated 28th September, 2021 for AY 2019-20 stands quashed by the Hon'ble Bombay High Court, the order of the Ld. PCIT passed u/s 263 of the Act, reviving the assessment order, does not survive. We, therefore, quash the order....