TaxTMI 
TaxTMI 
2026 (9) TMI 1149
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....), National Faceless Appeal Center, New Delhi (for short, "CIT(A)"), dated 18/09/2025, which in turn arise from the respective orders passed by the Assessing Officer (for short, "AO") under section 144 r.w.s. 263 r.w.s. 144B of the Income Tax Act, 1961 (for short, "the Act"), dated 22/02/2025 and under section 154 r.w.s. 147 of the Act, dated 03/04/2025 for Assessment Year (AY) 2016-17. The assessee is also before us as a cross objector in both the aforementioned appeals. 2. As common issues are involved in the captioned appeals, the same are being taken up and disposed of vide a consolidated order. We shall first take up the appeal filed by the Revenue in ITA No.681/Viz/2025, wherein the impugned order has been assailed on the following....
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....ollowing grounds of appeal: "1. Order of the Ld. Commissioner of Income Tax (Appeals), NFAC is erroneous on facts and law. 2 On the facts and in the circumstances of the case, whether the CIT(A) failed to appreciate that although the Hon'ble ITAT had earlier set aside the revision order passed u/s 263, the department has filed an appeal before the Hon'ble High Court against the said ITAT order within the prescribed limitation period and is presently pending for disposal before the Hon'ble High Court. Hence, the revision order u/s 263 cannot be treated as having attained finality at this stage. 3. On the facts and in the circumstances of the case, whether The CIT(A) erred in annulling the rectification ....
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....e assessee. 4. Thereafter, the AO vide his order under section 147 r.w.s. 263 r.w.s. 144B of the Act, dated 22/02/2025, gave effect to the order passed by the Ld. PCIT under section 263 of the Act, and determined the income of the assessee at Rs. 10,65,33,440/-. 5. Further, the AO vide his order passed under section 154 r.w.s. 147 of the Act, dated 03/04/2025, rectified the order passed by him under section 147 r.w.s. 263 r.w.s. 144B of the Act, dated 22/02/2024. It was observed by him that while framing the aforesaid assessment consequent to the order passed by the Ld. PCIT, under section 263 of the Act, the tax was wrongly levied on the total income of Rs. 4,77,253/- instead of Rs. 10,68,60,690/-, resulting in a NIL demand. Accordin....
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....of appeal raised by the Revenue. It was submitted that the Revenue has assailed the order passed by the Ld. PCIT under section 263 of the Act, dated 30/03/2024, before the Hon'ble High Court, which, as on date, is pending disposal and has not attained finality. Elaborating on his contention, the Ld. AR submitted that, considering that the order passed by the Tribunal has been assailed before the Hon'ble High Court and is pending adjudication as on date, the CIT(A) erred in quashing the assessment order passed by the AO under section 147 r.w.s. 263 r.w.s. 144B of the Act, dated 22/02/2025. 11. We have given thoughtful consideration and are unable to persuade ourselves to concur with the Ld. CIT-DR's contention. In our view, as the order p....