2024 (11) TMI 968

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..... ication order u/s 143(1)/154 of the Act. Consequently, no demand remains outstanding against the assessee as per the rectification order of the ld. AO in impugned assessment year. Therefore, the demands upheld in the impugned appellate order cannot be sustained against the assessee. The Ld. DR has acknowledged this position and accepted the submissions of the Ld. AR. In light of this, the grounds .....

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..... ard the rival submission and considered the documents available in the record. The assessee filed the return under section 139(1) of the Act and the return was processed under section 143(1) of the Act. The CPC had raised the demand related to disallowance of notional rent Rs. 4,53,046/-; disallowance of re-measurement benefit on defined plan Rs. 31,69,282/- and deferred tax amount to Rs. 16,82,48 .....

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..... here is no demand against the assessee. But on the other side the same demand was confirmed by the Ld.CIT(A) by order U/s 250 of the Act. We have carefully perused the documents on record. In our considered view, the Ld. AO has nullified the demand by issuing a rectification order under Section 143(1)/154 of the Act. Consequently, no demand remains outstanding against the assessee as per the recti .....

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