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TMI Blog2016 (8) TMI 953X X X X Extracts X X X X X X X X Extracts X X X X ..... mats, coils etc., filed its return of income on 27/10/205, declaring income at Rs. NIL. The AO completed the assessment, u/s.143 (3) of the Act, on 28/11/2008, determining the income of the assessee at Rs. 6.46 crores under the normal provisions and at Rs. 40.89 crores under the MAT provisions(u/s.115 JB of the Act).Aggrieved by the 143(3) order of the AO, the assessee preferred an appeal before the First Appellate Authority (FAA). An order giving effect to the order of the FAA was passed on 12/10/2011,revising the total income of the assessee at Rs. 3.05 lakhs under normal provisions and at Rs. 40.89 crores u/s.115JB. On verification of the records,the AO held that the assessee had debited an amount of Rs. 4.08 crores under the head 'pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... him,that for counting the limitation period date to be recognised was date on which the original assessment was passed, that the order u/s.154 had to be passed within four years from the end of the assessment year in which the original assessment order was completed. Accordingly, he held that order passed by the AO on 17/01/2014 was barred by limitation. 4. During the course of hearing before us, the Departmental Representative (DR) relied upon the case of Tony Electronics Ltd. (320 ITR 378) of the Honorable Delhi High Court. The Authorised Representative(AR)relied upon the order of the FAA and referred to the cases of Seksaria Cotton Mills Ltd.(124ITR 570);Kirloskar Systems Ltd.(220Taxmann 1); Poonjabhai Vanmalidas (114ITR38);Shri NavDurg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er giving effect to the order of the FAA. Therefore, the Hon'ble Court had held that once an appeal against the order passed by an authority was decided by an Appellate Authority the order of the said authority would merge in the order of the FAA.However, in the case under consideration, as stated earlier, issue of computation u/s. 115JB was never adjudicated upon. First four cases relied upon by the assessee support the view taken by us. Even on merits,we find that the issue stands decided in favour of the assessee as held by the Hon'ble Supreme Court in case of Vijaya Bank (supra).Hence,in our opinion, the order of the FAA does not suffer from any legal infirmity. Confirming his order, we decide the effective ground of appeal against ..... X X X X Extracts X X X X X X X X Extracts X X X X
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