ITAT Lucknow Holds Original Assessment Revives Once Section 263 Order Is Set Aside

U.P Rajya Vidyut Utpadan Nigam Limited Vs DCIT (ITAT Lucknow) ITAT Lucknow Holds Original Assessment Revives Once Section 263 Order Is Set Aside; Appeals Remanded / Rendered Infructuous Accordingly The Lucknow Bench of the ITAT disposed of a batch of cross-appeals involving U.P. Rajya Vidyut Utpadan Nigam Ltd. for AY 2012-13, arising from (i) the original assessment u/s 143(3) and (ii) a consequential assessment passed pursuant to a PCIT’s revision order u/s 263. The Tribunal noted that the PCIT’s order under section 263 had already been set aside by the ITAT in earlier proceedings. As a n...