The Commissioner Of Income Tax – 3, Mumbai v. M/S.neelam Mercantile P. Limited

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.4909 OF 2010 The Commissioner of Income Tax – 3, Mumbai Versus M/s.Neelam Mercantile P. Limited ..Appellant. ..Respondent. Ms.Anamika Malhotra for the appellant.Mr.J.D. Mistri, Senior Advocate with Mr.P.C. Tripathi & Mr.Raj Darak for the respondent. CORAM : J.P. Devadhar &K.K. Tated, JJ. P.C. : DATE : 22[nd] September 2011 1.Whether the Income Tax Appellate Tribunal was justified in setting aside the order passed by the assessing officer on giving effect to the order of the Commissioner of Income Tax passed under Section 263 of the Income Tax Act, 1961 is the question raised in this appeal. 2.The Income Tax Appellate Tribunal in its order has recorded a finding that the order of the Commissioner of Income Tax passed under Section 263 of the Act has been set aside by the Income Tax Appellate Tribunal. It is brought to our notice that the appeal filed by the Revenue against the order of the Income Tax Appellate Tribunal setting aside the order of the Commissioner of Income Tax passed under Section 263 of the Act has also been dismissed. 3.In these circumstances, the order of the Income Tax Appellate Tribunal in setting aside the assessment order passed in implementation of the order of the Commissioner of Income Tax cannot be faulted. The appeal is accordingly dismissed with no order as to costs. (K.K. Tated, J.) (J.P. Devadhar, J.)