AICON GALLERY NEW DELHI PRIVATE LIMITED,NEW DELHI vs. PCIT, DELHI-1

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ITA 2001/DEL/2021Status: DisposedITAT Delhi28 May 2025AY 2016-17Bench: SHRI CHALLA NAGENDRA PRASAD (Judicial Member), SHRI S RIFAUR RAHMAN (Accountant Member)3 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 noted that the assessee's counsel had filed a letter instructing not to press the appeal and requested its dismissal as not pressed. The learned DR had no objection to this request. Therefore, after hearing the rival submissions, the Tribunal dismissed the appeal as not pressed. The operative direction was to dismiss the appeal. No specific findings were made on the merits of the PCIT's order as the appeal was withdrawn by the assessee.

What were the facts?

The assessee, Aicon Gallery New Delhi Private Limited, filed an appeal before the Income Tax Appellate Tribunal (ITAT), Delhi Bench 'A', against an order passed by the Principal Commissioner of Income Tax (PCIT), Delhi-1, on March 22, 2021. This order was passed under Section 263 of the Income Tax Act, 1961, and held that the assessment order dated December 20, 2018, passed under Section 143(3) of the Act, was erroneous and prejudicial to the interest of the Revenue. The assessment year in question is 2016-17. The appeal was listed for hearing on May 28, 2025. The assessee's counsel submitted a letter stating they had instructions not to press the appeal.

What were the issues?

1. Whether the assessment order passed under Section 143(3) for AY 2016-17 was erroneous and prejudicial to the interest of the Revenue, as held by the PCIT under Section 263 of the Income Tax Act, 1961. Assessee's Contention: The assessee's counsel filed a letter stating that they were instructed not to press the appeal and requested that the appeal be dismissed as not pressed. No specific arguments were made by the assessee on the merits of the PCIT's order. Revenue's Contention: The learned Departmental Representative (DR) had no objection to the assessee withdrawing 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

Income Tax Appellate Tribunal, DELHI BENCH “A” NEW DELHI

Before: SHRI CHALLA NAGENDRA PRASAD

For Appellant: Shri Tarandeep Singh, FCA &, Shri Sandeep Yadav, Adv
For Respondent: Shri Jitender Singh, CIT DR
Hearing: 28.05.2025

आदेश /O R D E R

PER C.N. PRASAD, J.M.

1.

This appeal is filed by the assessee against the order of the Ld. PCIT, Delhi-1 dated 22.03.2021 for the AY 2016-17 passed u/s 263 of the Act holding that the assessment order passed u/s 143(3) dated 20.12.2018 as erroneous and prejudicial to the interest of the Revenue.

2.

Ld. Counsel for the assessee filed a letter stating that he has instructed not to press the appeal and prayed that the appeal be dismissed as not pressed. The letter is as under: -

“BEFORE THE HON’BLE INCOME TAX APPELLATE TRIBUNAL, NEW DELHI (HON’BLE “A” BENCH) IN THE MATTER OF : AICON GALLERY NEW DELHI PRIVATE LIMITED ITA NO. : 2001/Del/2021 ASSESSMENT YEAR : 2016-17 MAY IT PLEASE YOUR HONOURS Captioned appeal is next fixed for hearing before your honors on 28th May, 2025. In this regard the undersigned is instructed to not press the appeal. It is accordingly prayed that the captioned appeal may kindly be dismissed as NOT PRESSED. Prayed accordingly.

Yours truly, Sd/- (Tarandeep Singh) Enclosure: Copy of order dated 31.03.2022 passed by AO u/s 143(3)/263 of the Act.”

3.

Ld. DR has no objection in assessee withdrawing the appeal.

4.

Heard rival submissions. In view of the letter of the Ld. Counsel this appeal is dismissed as not pressed.

5.

In the result, appeal of the assessee is dismissed as not pressed.

Order pronounced in the open court on 28/05/2025

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