Once Section 263 Order Is Quashed, Fresh Assessment Cannot Survive: ITAT Delhi

DCIT Vs Asian Hotels [North] Limited (ITAT Delhi) Once Section 263 Order Is Quashed, Fresh Assessment Cannot Survive: ITAT Dismisses Revenue Appeal as Infructuous The Delhi ITAT dismissed the Revenue’s appeal in the case of Asian Hotels (North) Ltd. for AY 2016-17, holding that the reassessment framed under Section 143(3) read with Section 263 had become infructuous once the very foundation – the Section 263 revision order – was quashed by the Tribunal earlier. The Tribunal noted that after the original assessment and partial relief by the CIT(A), the PCIT had invoked Section 263 and dir...