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TMI Blog2019 (8) TMI 801X X X X Extracts X X X X X X X X Extracts X X X X ..... passed U/s 154 of the Ac by the AO - the appeal of the assessee has no merits and deserves to be dismissed. - ITA No. 832/JP/2018 - - - Dated:- 9-8-2019 - Shri Vijay Pal Rao, JM And Shri Vikram Singh Yadav, AM For the Assessee : None (Written submission) For the Revenue : Shri Karani Dan (JCIT) ORDER PER: VIJAY PAL RAO, J.M. This appeal by the assessee is directed against the order dated 03.04.2018 of the ld. CIT(A), Ajmer arising from order passed U/s 154 of the Act by the AO for the assessment year 2009-10. The assessee has raised following grounds:- 1. That the CIT(Appeals) Ajmer erred in maintaining order of AO ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l debts. The order U/s 263 was passed by the ld. CIT(A) on 24.03.2014. Thereafter the AO passed the assessment order U/s 143(3) of the Act in pursuant to the order of the ld. CIT passed U/s 263 of the Act on 30.04.2014. The Assessing Officer then issued a notice u/s 154 of the Act on 28.02.2017 for rectifying the mistake in respect of the brought forward losses in pursuant to the reassessment order passed U/s 148 r.w.s. 143(3) of the Act for the assessment year 2008-09 whereby the losses of ₹ 8,22,49,560/- were reduced to ₹ 5,28,05,175/-. Thus in order to give effect to the reassessment order for the assessment order 2008-09 the AO proposed to pass an order U/s 154 of the Act for modifying the brought forward losses pertaining t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the AO is only a consequential giving effect order to the reassessment order passed for the assessment year 2008-09 whereby the loss of ₹ 8,22,49,560/- as determined in the original assessment completed U/s 143(3) of the Act was reduced to ₹ 5,28,05,175/-. Therefore, there was reduction in the carry forward of the losses for the assessment year 2008-09 and consequently brought forward losses to be considered for the year under consideration was also got changed from ₹ 8,22,49,560/- to ₹ 5,28,05,175/-. It is pertinent to note that the order passed by the AO U/s 154 of the Act is not in the nature of taking any decision or changing any tax liability of the assesses. But it is only a consequential eff ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r A.Y. 2008-09 while completing the assessment of the A.Y. 2009-10 vide order dated 30.12.2014. I am of the considered view that set off of excess brought forward loss of ₹ 1,30,02,733/- of A.Y. 2008-09 while completing the assessment of A.Y. 2009.10, is mistake apparent from record. Therefore, order dated 07.03.2017 passed by the AO u/s 154 rectifying the order dated 30.12.2014 of A.Y. 2009-10 by withdrawing the excess set-off of brought forward loss of ₹ 1,30,02,733/- pertaining to A.Y. 2008-09 is held to be valid and in accordance with the provisions of law. Thus it is nothing but just to pass a consequential order in pursuant to a reassessment order for the assessment year 2008-09 and thereby reduced the l ..... X X X X Extracts X X X X X X X X Extracts X X X X
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