VARROC POLYMERS PVT.LTD,AURANGABAD vs. PR. COMMISSIONER OF INCOME-TAX -2, AURANGABAD

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ITA 738/PUN/2019Status: DisposedITAT Pune15 July 2020AY 2014-152 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The tribunal allowed the assessee's request to withdraw the appeal. The appeal was dismissed as withdrawn based on the assessee's submission that the assessed income was not disturbed.

What were the facts?

The assessee filed an appeal against an order passed by the Principal Commissioner of Income-tax under Section 263. Subsequently, the Assessing Officer passed a fresh assessment order accepting the assessed income.

What were the issues?

Whether the assessee should be allowed to withdraw the appeal after the Assessing Officer passed a fresh assessment order accepting the assessed income.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCH “B”, PUNE – VIRTUAL COURT

Before: SHRI R.S. SYAL & SHRI PARTHA SARATHI CHAUDHURY

For Appellant: Shri Kishore Phadke

This appeal preferred by the assessee emanates from the order of the Ld. Pr.CIT-2, Aurangabad, dated 20.03.2019.

2.

Before us, the assessee has filed a letter dated 13-07-2020, seeking withdrawal of the appeal. The relevant contents of such withdrawal letter, read as under :

“Appellant has filed an appeal on 08/05/2019 against order dated 20/03/2019, passed by learned PCIT-1, Aurangabad u/s 263 of ITA, 1961. Direction of the learned PCIT-1 is as follows,

“AO is directed that the assessment order should be reframed as per the provisions of the law, after considering proper facts and submissions of the assessee and also for necessary verification in the light of the observations made in 263 order, after affording proper opportunity to the assessee within the time allowed under ITA, 1961.” After considering the appellants submissions, the learned AO on 25/12/2019 passed assessment order u/s 143(3) r.w.s. 263 of ITA, 1961 by accepting the assessed income. Since, assessed income is not disturbed, appellant wishes to withdraw the appeal filed before Hon’ble Pune ITAT. Prayer – Considering the above, appellant request your goodself to kindly allow appellant to withdraw the appeal and oblige.”

3.

On perusal of the above letter and having no objection from the side of ld. DR, we allow the request of the assessee to withdraw the appeal.

4.

In the result, the appeal of the assessee is dismissed as „withdrawn‟.

Order pronounced in the open Court on 16th July, 2020.

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