M/S.RAGA SHARE TRADING PVT.LTD,JABALPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX,CIRCLE 2(1), JABALPUR

PDF · subscribers
ITA 101/JAB/2018Status: HeardITAT Jabalpur02 June 2022AY 2013-142 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal accepted the assessee's request to withdraw the appeal. Since the assessee is withdrawing the appeal, the Tribunal has no further grounds to adjudicate the matter.

What were the facts?

The assessee filed an appeal before the ITAT against an order passed by the Principal Commissioner under section 263. The assessee sought to withdraw the appeal as they had received substantial relief in the first appeal.

What were the issues?

Whether the assessee's appeal against the Pr.CIT's order under section 263 should be allowed to be withdrawn.

Which sections of the Income-tax Act were involved?

Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, JABALPUR BENCH, JABALPUR

Before: SHRI SANJAY ARORA, HON’BLE & SHRI MANOMOHAN DAS, HONBLE

For Appellant: Shri Dhiraj Ghai, FCA
For Respondent: Shri Shravan Kumar Gotra, CIT-DR
Hearing: 02/06/2022Pronounced: 02/06/2022

Per Sanjay Arora, AM

1.

This is an Appeal by the Assessee directed against the Order dated 21/03/2018 by the Principal Commissioner of Income Tax-2, Jabalpur (‘Pr.CIT’, for short), passed under section 263 of the Income Tax Act, 1961 (‘the Act’ hereinafter) in respect of assessee’s assessment u/s. 143(3) dated 30/12/2015 for Assessment Year (AY) 2013-14.

(A.Y. 2013-14) Raga Share Trading Pvt. Ltd. v. ACIT 2. At the very outset, it was submitted by Shri Ghai, the ld. counsel for the assessee, that the assessee seeks permission to withdraw the instant appeal. This, he explained, is for the reason that the assessee has secured substantial relief in first appeal against the assessment framed pursuant to the impugned order. The Revenue has not preferred any appeal against the order by the first appellate authority. The ld. CIT-DR, on being queried by the Bench in this regard, did not raise any objection to the said prayer for withdrawal by the assessee.

3.

We, accordingly, have, under the circumstances, no hesitation in, accepting the assessee’s request, made orally through it’s counsel, Shri Ghai, at bar, allowing the assessee permission to withdraw it’s instant appeal. We decide accordingly.

4.

In the result, the assessee’s appeal is dismissed in limine. Order pronounced in open Court on June 02, 2022

More judgments on Section 263

All 13,616 judgments and leading authorities on Section 263 →

Recent GST High Court judgments

Search GST case law →