PNC COLD STORAGE PVT. LTD.,AGRA vs. PRINCIPAL COMMISSIONER OF INCOME-TAX-1, AGRA, AGRA

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ITA 89/AGR/2022Status: DisposedITAT Agra28 August 2023AY 2017-20182 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal permitted the assessee to withdraw the appeal as no adverse inference was drawn by the Assessing Officer in the original proceedings. The Revenue did not object to the withdrawal.

What were the facts?

The assessee filed an appeal against an order passed by the Principal Commissioner of Income Tax under Section 263 of the Act. The assessee later sought to withdraw the appeal.

What were the issues?

Whether the assessee's appeal against a revisionary order under Section 263 should be permitted to be withdrawn when no adverse inference was drawn in the original assessment.

Which sections of the Income-tax Act were involved?

Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AGRA BENCH, ‘DB’: AGRA

Before: SHRI SHAMIM YAHYA & SHRI ANUBHAV SHARMA

Hearing: 28.08.2023Pronounced: 28.08.2023

ORDER PER SHAMIM YAHYA, AM,

This appeal by the assessee is against the order of the Ld. CIT-1, Agra, passed u/s 263 of the Act dated 31.03.2023 and pertains to Assessment Year 2017-18.

2.

At the outset, in this case, the ld. Counsel for the assessee submitted that this appeal was filed by the assessee against the order u/s 263 of the Act passed by the Ld. Pr. Commissioner of Income Tax. He also submitted that in the proceedings conducted by the Ld. Assessing Officer and the consequent order passed by him u/s 143(3) r.w.s. 263, no adverse inference has been drawn by the Ld. Assessing Officer. Hence, the assessee wants to withdraw the present appeal filed against the revisionary order passed u/s 263 of the Act. In this regard, an application of withdrawal dated 30.06.2023 is also available on record.

3.

Upon careful consideration, noting that the Revenue does not have any objection, we permit the withdrawal of the appeal. Hence, the appeal of the assessee is dismissed as withdrawn.

4.

In the result, the appeal of the assessee is dismissed.

Order pronounced in the open court on 28.08.2023.

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