Itxa/62/2012 Of Commissioner Of Income Tax-4 v. Shree Balaji Shirtings Pvt Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.62 OF 2012 The Commissioner of Income Tax...Appellant-Versus-Shree Balaji Shirtings Pvt.Ltd.. ..Respondents ........... Mr.A.R.Malhotra with Mr.N.A.Kazi, for the Appellant.Mr.Jas Sanghavi i/by PDS Legal, for the Respondent. ........... CORAM: S.C. DHARMADHIKARI AND B.P. COLABAWALLA, JJ. DATE :- 03[rd] July, 2014 P.C.: 1On the earlier occasion and when this Appeal was placed before us on 26.06.2014 it is the Assessee's counsel who produced the copy of the Assessment Order. The Assessing Officer, acting in furtherance of and to comply with the directions of the Income Tax Appellate Tribunal contained in paragraphs 7 and 8 of the order under challenge, has completed the fresh exercise. The Assessing Officer has passed the fresh order dated 22.03.2013. A copy thereof was taken on record by us in the presence of the Advocates of both sides. 2In order to enable Mr.Malhotra, learned counsel appearing for the Revenue, to take instructions and to make a statement as to whether the Revenue is still interested in pursuing this Appeal or withdraw it that he sought time to take instructions. The matter was placed today at his request. Having taken the instructions, Mr.Malhotra states that in the light of the subsequent developments the Revenue is not pressing this Appeal. However, he seeks a clarification that in the event the Assessment Order is set aside or modified in any manner by the Appellate Authority under the Income Tax Act, 1961, then, the remedies of the Revenue should not be foreclosed. 3Once we have noted that there is an assessment order which is passed to implement the directions of the Tribunal contained in the impugned order, then, examining the rival contentions in this Appeal would be purely academic. Today, the Revenue does not have any grievance as the Assessment Order has been passed against the interest of the Assessee. In the event the Assessee challenges the order in an appeal/ further proceedings it would be open for the Revenue to raise such pleas as are permissible in law. The Revenue can adopt such remedies as are permissible in law in the event of an adverse order. Same course is open to the Assessee. The rival contentions are kept open for being examined at an appropriate stage. The Appeal is, accordingly, disposed of. No costs. (B.P. COLABAWALLA, J.) (S.C. DHARMADHIKARI, J.)