Assessment Collapses Once Section 263 Revision Is Quashed: ITAT Ahmedabad

ACIT Vs Linde Engineering Pvt. Ltd. (ITAT Ahmedabad) Assessment Collapses Once Section 263 Revision Is Quashed — ITAT Dismisses Revenue Appeal The Ahmedabad Bench of the Income Tax Appellate Tribunal held that once a revisionary order passed under section 263 is quashed, the consequential assessment framed under section 143(3) read with section 263 becomes void ab initio and non est in law. In this case, the assessment for AY 2011-12 had been completed pursuant to a section 263 order. However, the Tribunal had already set aside that very section 263 order in earlier proceedings involving the...