THE AHMEDABAD MERCANTILE CO. OP. BNAK LTD.,AHMEDABAD vs. ACIT, CIRCLE-5(2), AHMEDABAD

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ITA 868/AHD/2018Status: DisposedITAT Ahmedabad30 January 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. Consequently, the appeal filed by the assessee was dismissed as withdrawn.

What were the facts?

The assessee filed an appeal against an assessment order. During the hearing, the assessee sought to withdraw the appeal as the PCIT had set aside the original assessment and directed a fresh assessment.

What were the issues?

Whether the assessee should be permitted to withdraw its appeal when the assessment order under challenge has been set aside for a fresh assessment.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AHMEDABAD BENCH ‘D’, AHMEDABAD

PER JUSTICE P P BHATT, PRESIDENT :

1.

By way of this appeal, the assessee-appellant has challenged correctness of the order dated 18th January 2018 passed by the learned CIT(A)-5, Ahmedabad, in the matter of assessment under section 143(3) of the Income-tax Act, 1961, for the assessment year 2014-15.

2.

At the time of hearing, it is noticed that the assessee has filed a letter dated 28.01.2020 seeking permission for withdrawal of appeal on the ground that learned PCIT-5, vide his order dated 28.03.2019 passed under Section 263 of the Act, has set aside the original assessment directing the Assessing Officer to pass a fresh assessment order. The learned Departmental Representative has no objection to the withdrawal of the appeal filed by the The Ahmedabad Mercantile Coop Bank Ltd Vs. ACIT AY : 2014-15 Page 2 of 2 assessee. In view of these facts, we allow the withdrawal of the appeal filed by the assessee and, accordingly, appeal of the assessee is dismissed as withdrawn.

3.

In the result, the appeal is dismissed as indicated above. Pronounced in the open court today on the 30th January, 2020.

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