MAHAMEDHA URBAN COOPERATIVE BANK LIMITED,GHAZIABAD vs. PR, CIT, GHAIZABAD

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ITA 783/DEL/2021Status: DisposedITAT Delhi06 September 2022AY 2016-172 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal permitted the assessee to withdraw its appeal. The appeal was dismissed as withdrawn.

What were the facts?

The assessee filed an appeal against an order passed by the Principal Commissioner of Income-tax under section 263. The assessee later requested to withdraw the appeal.

What were the issues?

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 CIT's order under section 263 should be withdrawn by the assessee.

Which sections of the Income-tax Act were involved?

Section 263,Section 153

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH “E”: NEW DELHI

Before: SHRI NARENDRA KUMAR BILLAIYA & SHRI KUL BHARAT

For Respondent: Ms. Rakhi Vimal, CIT(DR)
Hearing: 06.09.2022Pronounced: 06.09.2022

O R D E R PER KUL BHARAT, JM:

This appeal, by the assessee, is directed against the order of the learned Principal Commissioner of Income-tax, Ghaziabad, dated 17.03.2021, passed under section 263 of the Income-tax Act, 1961, pertaining to the assessment year 2016-17.

2.

The assessee vide application dated 2.9.2022 has requested the Tribunal for withdrawal of its appeal, inter alia, mentioning as under:

“The above appeal fixed for hearing at 10:30 a.m. as on 06/09/2022. As said appeal was against the order of learned Pr. CIT, Ghaziabad, passed u/s 263 of IT Act as on 17th March 2021 for re-opening concluded assessment and order for fresh assessment for the A.Y. 2016-17. As assessment was time

Mahamedha Urban Coop. Bank Ltd. Vs. ACIT barred u/s 153 (3) of IT Act, i.e. 12 month from the end of F.Y. in which said order was passed, therefore said fresh assessment has been concluded by the Income tax deptt within time frame as on 28/03/2022. Therefore, in our view no purpose going to achieve and to save costly time of H'ble ITAT and further litigation, we are in view to withdraw our appeal. Kindly accept our request to withdraw of above refer appeal.”

3.

The learned DR raised no objection to the request so made on behalf of the assessee. Accordingly, the assessee is permitted to withdraw its appeal.

4.

Assessee’s appeal stands dismissed, having been withdrawn.

Order pronounced in open court on 06.09.2022.

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