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TMI Blog2023 (9) TMI 511X X X X Extracts X X X X X X X X Extracts X X X X ..... nal and the consequential order of assessment dated 28.06.2019 would not stand. Pendency of an appeal against the revisional proceedings would not be a ground for this appeal to be kept pending. Though the assessee had brought it to the notice of the AO to keep the proceedings in abeyance, the AO proceeded to finalize the assessment. Revenue, did not, before the ITAT also make a request to keep the appeal pending or in abeyance on the ground that this Court was seized of an appeal against the revision proceedings. In absence of this, the Tribunal could not be faulted in holding that once the Section 263 proceedings were set aside by itself, the consequent assessment order giving effect to the revision order is void ab initio. If the R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the I.T. Act. The assessee is housing society. The function of the society is to maintain the assets of the society and provide the common facilities to the members from whom they collect contributions. Subsequently, case was selected for scrutiny and assessment order u/s 143(3) of the I.T. Act was passed on 18.10.2016 accepting returned income of the assessee. Subsequently, it was found that the order u/s. 143(3) of the IT Act was erroneous and prejudicial to the interest of revenue. Accordingly, the same has been set aside by the Pr.CIT-1, Surat, with directions to the assessing officer frame the assessment afresh in accordance with the discussion and directions in the order The relevant order u/s. 263 has been passed by the Pr. CIT, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ellant, respectfully following the decision this appeal is allowed. 4. Being aggrieved by the order, the Revenue went in appeal before the ITAT. The Tribunal accepting the assessee s submission that the Tribunal in its own case had set aside the order of review of the Principal CIT under Section 263 vide order dated 23.08.2021, consequent assessment order giving effect to the reversion order is void-ab-initio. The findings of the Tribunal read as under: 4. I have considered the submissions of both the parties and have gone through the orders of lower authorities carefully. I have also perused the order of the Division Bench of this Tribunal in ITA No. 718/Srt/2018 (supra) wherein the order of ld. Pr.CIT passed under Section 263 date ..... X X X X Extracts X X X X X X X X Extracts X X X X
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