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TMI Blog2024 (7) TMI 242X X X X Extracts X X X X X X X X Extracts X X X X ..... f the mail dated 07/04/2022, we find that the consultant clearly advised that the assessee may file an appeal before the ITAT against the order passed by learned PCIT under section 263 of the Act to quash the same and thereby no revision proceedings will be initiated by the learned Assessing Officer in case the order is quashed. The consultant further said that the assessee may accept the order under section 263 of the Act and comply with the revision proceedings initiated by the learned Assessing Officer by responding to all the notices issued in future and the assessee has an option to submit detailed facts before the learned Assessing Officer for his verification and may object for any addition to be made on the issue of ESOP reimburseme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s For the Revenue : Ms. TH Vijaya Lakshmi, CIT-DR ORDER PER K. NARASIMHA CHARY, J.M: Aggrieved by the order dated 29/03/2022 passed by the learned Pr. Commissioner of Income Tax, Hyderabad-1 ( Ld. CIT ) under section 263 of the Income Tax Act, 1961 (for short the Act ), in the case of Sri Anthelio Business Technologies Private Limited ( the assessee ) for the assessment year 2017-18, assessee preferred this appeal. 2. Brief facts of the case are that assessee is a Private limited company, was deriving income from its business in information technology. It filed the return of income for the assessment year 2017-18, declaring income of Rs. 9,01,38,890/-. Assessment was complete by order dated 07/11/2019 by way of order under section 143(3) of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... He prayed that since the assessee has got a good case on merits, the delay may be condoned, because the petitioner believed that the option to seek remedy for filing an appeal was after the consequential order passed by the learned Assessing Officer under section 143(3) read with section 263 of the Act, but the assessee was advised to file an appeal not only against the consequential order, but also against the order under section 263 of the Act. 4. He further submitted that in this case, order under section 263 of the Act was passed on 29/03/2022, mail was sent by the assessee to the consultant, seeking advice on 263 order on the same day, advice was received on 07/04/2022, assessee again sought advice from another consultant on 08/02/202 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by order dated 10/10/2023, wherein this sort of conduct of the assessee was deprecated. 6. We have gone through the record in the light of the submissions made on either side. It could be seen from the affidavit filed in support of the request of the assessee to condone the delay, it is stated that pursuant to the impugned order, the assessee sought advice from the consultant and pursuant there to they preferred to pursue the assessment proceedings in the lines of the 263 order, but subsequently, on the advice of another consultant, they are challenging the 263 order. Claiming that it did not receive proper legal advice at the earliest point of time, the assessee came forward with this appeal with a delay of 348 days. 7. Impugned order was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edings before the learned Assessing Officer and the second option is to accept the order under section 263 and to proceed with the revision proceedings before the learned Assessing Officer. Assessee had chosen the first option to proceed with the revision proceedings before the learned Assessing Officer by furnishing the requisite information. There is nothing on record to show that it is not a conscious decision taken by the assessee. It is only on realising that there is very limited option to challenge the consequential proceedings before the learned Assessing Officer, the assessee obtained the advice to challenge the order under section 263 of the Act. 9. Even after obtaining the second advice, the assessee did not promptly proceed with ..... X X X X Extracts X X X X X X X X Extracts X X X X
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