FORBES & COMPANY LIMITED,MUMBAI vs. THE DEPUTY COMMISSIONER OF INCOME TAX 1(1)(1), MUMBAI

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ITA 2845/MUM/2026Status: DisposedITAT Mumbai03 July 2026AY 2001-023 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal permitted the assessee to withdraw the appeal. The appeal was dismissed as withdrawn because the issues raised were adjudicated and rectified by the CIT(A) in the subsequent order.

What were the facts?

The assessee filed an appeal before the ITAT against an order of the CIT(A). Subsequently, the CIT(A) passed a rectification order under Section 154 of the Income Tax Act. The assessee then sought to withdraw the appeal as it had become infructuous.

What were the issues?

Whether an appeal filed before the ITAT can be withdrawn if the issues raised are subsequently rectified by the lower appellate authority.

Which sections of the Income-tax Act were involved?

Section 154

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “F” BENCH; MUMBAI

Hearing: 01.07.2026Pronounced: 03.07.2026

IN THE INCOME TAX APPELLATE TRIBUNAL“F” BENCH; MUMBAI BEFORE SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER ITA No. 2845/Mum/2026 (Assessment Year: 2001-02)

Forbes & Company Limited The Deputy Commissioner of Ground Floor, Forbes Building, Income Tax 1(1)(1) Fort, Mumbai, Maharashtra, vs. 6th Floor, Aayakar Bhavan, 400001 Maharishi Karve Road, Mumbai, Maharashtra, 400020 PAN: AAACF1765A (Appellant) (Respondent) For Assessee : None For Revenue : Ms. Tsering Majumder, Sr.DR Date of Hearing : 01.07.2026 Date of Pronouncement : 03.07.2026 O R D E R PER VIKRAM SINGH YADAV, A.M :

This is an appeal filed by the Assessee against the order of the Learned Commissioner of Income Tax (Appeals)-National Faceless Appeal Centre (NFAC), Delhi [‘Ld.CIT(A)’], dated 15.01.2026, pertaining to Assessment Year (AY) 2001-02.

2.

None appeared on behalf of the assessee. The assessee, however has filed an application dated 26.05.2026, wherein the assessee has requested the Bench for permission to withdraw this appeal and the contents of the said application read as under: “Sub:Withdrawal of Appeal consequent to order passed by the Commissioner of Income tax (Appeals) (NFAC) under section 154 of the Income tax Act 1961(the Act) Appellant:Forbes & Company Limited

ITA No. 2845/Mum/2026; A.Y. 2001-02 Forbes & Company Limited Respondent:The Deputy Commissioner of Income tax 1(1), Mumbai The appellant had preferred the above appeal before the Hon'ble Income Tax Appellate Tribunal against the order dated 15 January 2026 passed by the NFAC for the above Assessment Year. Subsequent to filing of the aforesaid appeal, the NFAC has passed an order under section 154 of the Act, dated 16 March 2026, whereby the issues which were raised in the present appeal before the Hon'ble Tribunal have been duly adjudicated and rectified. A copy of the order dated 16 March 2026 passed NFAC is enclosed herewith. In view of the aforesaid rectification order passed under section 154, the present appeal filed before the Hon'ble Tribunal has become infructuous and is therefore sought to be withdrawn. The Appellant accordingly prays that the Hon'ble Tribunal may kindly permit withdrawal of the aforesaid appeal.” Yours faithfully, For Forbes and Company Limited”.

3.

The ld. DR has been heard, who has not raised any objection to such withdrawal request by the assessee.

4.

Taking into consideration the request made by the assessee seeking withdrawal of the present appeal on the ground that pursuant to the rectification order passed by the ld. CIT(A) u/s. 154 of the Act, dated 16.03.2026, the issues raised in the present appeal stand rectified, which has rendered the appeal as infructuous, we permit the assessee to withdraw the appeal. Accordingly, the present appeal stands dismissed as withdrawn.

5.

In the result, the appeal filed by the assessee is dismissed as withdrawn. Order pronounced on 03.07.2026

Sd/- Sd/- PAWAN SINGH VIKRAM SINGH YADAV (JUDICIAL MEMBER) (ACCOUNTANT MEMBER)

Mumbai, Dated: 03.07.2026 Karishma J. Pawar, SR. PS

ITA No. 2845/Mum/2026; A.Y. 2001-02 Forbes & Company Limited

Copy to : 1) The Appellant 2) The Respondent 3) The CIT concerned 4) The D.R, ITAT, Mumbai 5) Guard file

By Order

Dy./Asst. Registrar I.T.A.T, Mumbai

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