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TMI Blog2024 (4) TMI 498X X X X Extracts X X X X X X X X Extracts X X X X ..... /-. HELD THAT:- As decided in Ramamoorthy Vasudevan [ 2018 (11) TMI 1874 - ITAT PUNE] once the order under Section 143(3) r/w section 153A of the Act has been passed after taking prior approval of the ACIT under Section 153D of the Act, then the jurisdiction under Section 263 of the Act cannot be invoked. Therefore, the view taken by the Co-ordinate Bench of the Appellate Tribunal had attained finality. Hence, the ITAT, Indore has not committed any error of law by following the same view. For passing any order under Sections 143(3) 153A of the Act, prior approval of Joint Commissioner is required under Section 153A of the Act, or Principal Commissioner or Commissioner as the case may be. Therefore, once prior approval had already been taken ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t / assessee, a company engaged in the business of Real Estate, filed the return of income under Section 139(1) of the Act for the Assessment Year 2012 13 on 19.09.2011 declaration total income of rupees 'NIL'. 4.2. A search and seizure operation under Section 132 of the Act was carried out on 12.07.2016 at various premises of Jain Dixit Group Indore. In the said search, the assessee was also covered under Section 132 of the Act. Accordingly, notices under Section 153A were issued to the assessee for the Assessment Years 2011 12 to 2016 17 on 09.10.2017 under Section 143(2) of the Act. A notice under Section 143(2) of the Act was also issued on 02.08.2018 for the Assessment Year 2017 18. Since common issues / facts were involved in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r approval from the Assistant Commissioner, Income Tax (Central) 1, Indore under Section 153D of the Act. 4.6. Learned ITAT by placing reliance on a judgment passed by the Co-ordinate Bench of Pune in the case of Shri Ramamoorthy Vasudevan v/s PCIT (ITA Nos.967 968/Pun/2016) has held that the order passed by the PCIT is unsustainable due to lack of jurisdiction in invoking Section 263 of the Act and accordingly, set aside the order. Hence, this appeal is before this Court under Section 260A of the Act. 05. In this appeal, the tax effect is below than Rs. 1,00,00,000/-. The Income Tax Authority has placed reliance upon Clause 10(c) of Circular No.3/2018 dated 11.07.2018 proposing following substantial questions of law:- (1) Whether on the fa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pression and ideas in place of legislative intent as is available from a plain reading of the statutory provisions ? 06. Ms. Veena Mandlik, learned counsel for the appellant submits that the assessee made a cash payment for purchase of the land in violation of Rule 6DD(g) r/w 40A(3) of the Act as the land was held by him as stock in trade for the company, therefore, there was a prejudice to the interest of the Revenue. Hence, this appeal is liable to be admitted on the aforesaid proposed substantial questions of law. 07. Learned counsel for the appellant failed to answer the query made by this Court whether order passed by the Pune Bench in the case of Ramamoorthy Vasudevan (supra) was challenged before the High Court or Supreme Court on th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is Act and if he considers that any order passed therein by the Assessing Officer, is erroneous in so far as it is prejudical to the interests of the Revenue, he may make enquiry as he deems necessary, pass such order thereon as the circumstances of the case justify. For passing any order under Sections 143(3) 153A of the Act, prior approval of Joint Commissioner is required under Section 153A of the Act, or Principal Commissioner or Commissioner as the case may be. Therefore, once prior approval had already been taken by the Assessing Officer and accepted the return submitted by the assessee, then the same authority cannot exercise the power under Section 263 of the Act to reverse the order of Assessing Officer. 09. Even otherwise, the tot ..... X X X X Extracts X X X X X X X X Extracts X X X X
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