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TMI Blog2021 (2) TMI 1112X X X X Extracts X X X X X X X X Extracts X X X X ..... t). The subject matter of the appeal pertains to the Assessment year 2008-09. The appeal was admitted by a bench of this Court vide order dated 30.08.2017 on the following substantial questions of law: "(i) Whether the Tribunal was justified in law, in rejecting the contention of the Appellant that the first re assessment order made u/s 143(3) r.w.s. 147 of the Act dated 17.02.2014 gets effaced when a subsequent re-assessment order was made u/s 143(3) r.w.s. 147 of the Act, on 22.03.2016, in respect of the same Assessment Year and on same facts, on the facts and circumstances of the case? (ii) Whether the Tribunal was justified in law, to hold that the re-opening of assessment under section 147 was proper, when the issue was not argued ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion 142(1) of the Act was served on the assessee on 05.07.2013 and the assessment was concluded by the Assessing Officer vide order dated 17.02.2014 on the basis of the material available by the revenue, without considering the documents furnished by the assessee and the total income of the assessee was determined at Rs. 30,59,475/- by considering the Short Term Capital Gains under Other Sources and making additions of the same. 4. The assessee thereupon filed the appeal before the Commissioner of Income Tax (Appeals) who by an order dated 12.08.2014 dismissed the appeal preferred by the assessee. The assessee thereupon approached the tribunal by filing an appeal. During the pendency of the appeal before the tribunal, the case of the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessment, the previous order of assessment passed by the Assessing Officer gets effaced. In the instant case, in view of the order dated 22.03.2016, the previous order of assessment passed by the Assessing Officer dated 17.02.2014 got effaced and therefore, the subsequent order passed by the Assessing Officer dated 22.03.2016 prevails. Therefore, the first substantial question of law is answered in favour of the assessee and against the revenue. 7. We are informed that against the subsequent order of assessment, the appeal is pending before the Commissioner of Income Tax (Appeals). Therefore, in the facts of the case, it is not necessary for us to answer the remaining substantial questions of law and the appeal is disposed of with ..... X X X X Extracts X X X X X X X X Extracts X X X X
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