2021 (3) TMI 359 - AT - Income Tax

Revision u/s 263 - HELD THAT - Since the revision order u/s.263 of the Act for A.Y.2015-16 was passed on identical facts and circumstances prevailing for A.Y.2014-15 in all the three trusts, the decision rendered by this Tribunal for A.Y.2014-15 2020 (12) TMI 1121 - ITAT MUMBAI for all the three appeals referred to supra shall apply mutatis mutandis to this assessment year also. The operative portion of the said order of the Tribunal is not reproduced herein for the sake of brevity. Accordingly, the grounds raised by the assessee are allowed.

Summary

Issues:
Appeal against revision order u/s.263 for A.Y.2015-16.

Analysis:

Issue 1: Validity of Revision Order
The assessee contended that the order passed by the Commissioner of Income Tax (Exemptions) setting aside the AO's order was void as the AO's order was not erroneous or prejudicial to revenue. The Tribunal noted that the AO had conducted necessary verification/enquiry regarding various provisions, and the revision order for A.Y.2015-16 mirrored the circumstances of A.Y.2014-15. Referring to previous judgments on similar issues for A.Y.2014-15, the Tribunal allowed the assessee's appeal, concluding that the revision order for A.Y.2015-16 was not sustainable.

Issue 2: Grounds of Appeal
The assessee raised multiple grounds of appeal, challenging the CIT(E)'s decision to set aside the assessment made by the AO u/s. 143(3) of the Act. The Tribunal found that the issues raised in the grounds of appeal were similar to those addressed in previous judgments for A.Y.2014-15. Citing specific judgments related to trusts like Sir Ratan Tata Trust, Sir Dorabji Tata Trust, and The JRD Tata Trust, the Tribunal applied the decisions made for A.Y.2014-15 to the current assessment year, thereby allowing the assessee's appeal.

Conclusion:
The Tribunal, comprising SHRI M.BALAGANESH, AM, and SHRI PAVAN KUMAR GADALE, JM, granted relief to the assessee by allowing the appeals against the revision order u/s.263 for A.Y.2015-16. The Tribunal's decision was based on the similarity of issues with A.Y.2014-15 and the previous judgments rendered in related cases. The order pronounced on 08/03/2021 upheld the assessee's contentions, emphasizing the consistency in the Tribunal's approach across assessment years.