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TMI Blog2015 (1) TMI 1481X X X X Extracts X X X X X X X X Extracts X X X X ..... ncerning validity of proceedings u/s 154 for the reason that the Assessing Officer having applied his mind at the assessment stage, is not entitled to initiate proceedings u/s 154 based on change of opinion, has attained finality. In such an event of the matter, grounds filed before us, even if a decision has to be rendered, are of academic importance. H We are of the view that the appeals filed by the Revenue deserve to be dismissed on the ground that the issues raised herein are of academic importance, since the order passed u/s 154 has no legs to stand on the limited ground that it is based on change of opinion, and on this aspect of the matter has attained finality. - ITA No. 150/Hyd/2014 and ITA No. 151/Hyd/2014 - - - Dated:- 20-1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assed out of audit objection raised by the Revenue Audit party and the issue is covered by exception laid down in the Board s instruction No.3 of 2011. iii. Any other ground that may be urged at the time foe hearing. 3. At the outset, it may be noticed that in S.154 proceedings, the Assessing Officer sought to make certain disallowances, which were challenged by the assessee on the following ground- The Assessing Officer has erred in law and facts of the case to issue the order under S.154 based on renewed interpretation of law and change of interpretation. 4. The assessee also raised objection with regard to the validity of the proceedings under S.154 on the ground that it is time barred and even on merits, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppeal even where there was no tax effect, but the issue concerning validity of initiating proceedings under S.154 on the renewed interpretation of law was conspicuously absent in the grounds of appeal. In other words, the order of the learned CIT(A) with regard to the issue concerning validity of proceedings under S.154 for the reason that the Assessing Officer having applied his mind at the assessment stage, is not entitled to initiate proceedings under S.154 based on change of opinion, has attained finality. In such an event of the matter, grounds filed before us, even if a decision has to be rendered, are of academic importance. Having regard to the circumstances of the case and upon hearing rival submissions, we are of the view that the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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