BIHAR RAJYA PUL NIRMAN NIGAM LTD,PATNA vs. PR. CIT-1, PATNA

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ITA 11/PAT/2021Status: DisposedITAT Patna15 May 2023AY 2015-162 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal noted the assessee's submission that it had admitted its liability in the subsequent proceedings. Consequently, the assessee's appeal against the revision order was dismissed as withdrawn.

What were the facts?

The assessee appealed against a revision order passed by the Principal Commissioner of Income Tax under Section 263. During the set-aside assessment proceedings, the assessee admitted its liability.

What were the issues?

Whether the appeal against the revision order under Section 263 should be dismissed as withdrawn when the assessee admitted its liability in subsequent proceedings.

Which sections of the Income-tax Act were involved?

Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “PATNA BENCH, PATNA

Before: Shri Sanjay Garg & Shri Rajesh Kumar

Before Shri Sanjay Garg, Judicial Member and Shri Rajesh Kumar, Accountant Member Assessment Year: 2015-16 Bihar Rajya Pul Nirman Nigam Ltd....….....................…..........….…… Appellant 7, Sardar Patel Marg, Patna-800015. [PAN: AACCB0681R] vs. PCIT-1, Patna……………..............…………........….....…...…..…..... Respondent Appearances by: Shri Abhi Sarkar, Adv., appeared on behalf of the appellant. Smt. Rinku Singh, CIT-DR, appeared on behalf of the Respondent. Date of concluding the hearing : March 06, 2023 Date of pronouncing the order : May 15, 2023 आदेश / ORDER संजय गग�, �या�यक सद�य �वारा / Per Sanjay Garg, Judicial Member: The present appeal has been preferred by the assessee against the order dated 14.01.2021 of the Principal Commissioner of Income Tax-1, Patna [hereinafter referred to as ‘CIT(A)’].

2.

The assessee in this appeal has contested the exercise of revision jurisdiction of the ld. PCIT u/s 263 of the Income Tax Act (hereinafter referred to as the ‘Act’).

3.

At the outset, the ld. Counsel for the assessee has submitted that in the set aside assessment proceedings, the assessee has admitted its liability, therefore, the assessee’s appeal against the revision order passed u/s 263 of the Act may be dismissed as withdrawn. In view of the above submissions of the ld. AR, the present appeal is dismissed as withdrawn.

Assessment Year: 2015-16 Bihar Rajya Pul Nirman Nigam Ltd.

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