M/S. PHENIX SPINNING PVT. LTD.,AMRELI vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX-3, RAJKOT

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ITA 435/RJT/2018Status: DisposedITAT Rajkot28 February 2020AY 2015-162 pages
AI SummaryDismissed

What did the Tribunal hold?

The tribunal noted that the consequential order rendered the present appeal infructuous. Consequently, the assessee's request to withdraw the appeal was accepted.

What were the facts?

The assessee filed an appeal against an order passed under section 263 of the Income Tax Act. During the hearing, the assessee's counsel stated that a consequential order under section 143(3) r.w.s. 263 had been passed, accepting the returned income.

What were the issues?

Whether the appeal is infructuous due to a subsequent order accepting returned income. The assessee's right to withdraw the appeal.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3)

AI-generated summary — verify with the full judgment below

PER BENCH: The instant appeal filed by the assessee is directed against the order dated 11.09.2018 under section 263 of the Income Tax Act, 1961 (hereinafter referred as to “the Act”) passed by the Pr. Commissioner of Income Tax (Appeals)-3, Rajkot arising out of the order dated 20.12.2017 passed by JCIT, Range-3(1), Rajkot under section 143(3) of the Act for the Assessment Year (A.Y.) 2015-16.

2.

At the time of hearing of the instant appeal the Ld. Counsel appearing for the assessee submitted before us that the consequential order has been passed under section 143(3) r.w.s. 263 accepting the returned income. Hence, the present appeal becomes infructuous and 2 - withdrawn. Thus, in view of the above fact the appeal is dismissed as withdrawn.

3.

In the result, appeal is dismissed as withdrawn. Order pronounced in the Court on 28th February, 2020 at Rajkot.

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