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The Tax Publishers2020 TaxPub(DT) 4584 (Mum-Trib) INCOME TAX ACT, 1961
Section 263
Where order passed by CIT under section 263 had been quashed by Tribunal, and thus, the same was no more in existence, therefore, the consequential assessment order passed by AO under section 143(3) read with section 263 could not be sustained and accordingly, the said assessment order was liable to be quashed.
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Revision under section 263 - Tribunal quashed CIT's order - Consequential assessment order under section 143(3) r/w section 263 whether sustainable in law -
CIT invoking his jurisdiction under section 263, held that assessment order passed by AO under section 143(3) was erroneous and prejudicial to the interest of Revenue. He took the view that the AO had not applied his mind and wrongly allowed assessee's claim of 'Medical Conference Expenses', despite the fact that the same was prohibited by the Medical Council of India vide its Notification dated 10-12-2009. AO pursuant to the order passed by the CIT under section 263; framed the assessment under section 143(3) read with section 263, wherein he disallowed the 'Medical Conference Expenses' claimed by the assessee. Held: It was found that the Tribunal quashed the order passed by CIT under section 263 on the ground that the expenditure on medical conferences had been examined and found to be for the business of the assessee and the AO rightly allowed the same. When the order passed by the CIT under section 263 had been quashed by the Tribunal, and thus, was no more in existence, therefore, the consequential assessment order passed by the AO under section 143(3) read with section 263 could not be sustained. Accordingly, the said assessment order was quashed.
REFERRED :
FAVOUR : In assessee's favour
A.Y. : 2012-13 & 2013-14
IN THE ITAT, MUMBAI BENCH
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