COSMOS TRADEXIM P.LTD,NEW DELHI vs. ITO, WARD-6(3), NEW DELHYI

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ITA 5499/DEL/2018Status: DisposedITAT Delhi25 August 2021AY 2013-144 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 assessee requested to withdraw the appeal as the TPO's subsequent order resolved the issue. The Tribunal permitted the withdrawal of the appeal.

What were the facts?

The assessee filed an appeal against the CIT(A)'s order which had partly allowed their grievances. Subsequently, the TPO passed an order giving effect to the CIT(A)'s directions, resulting in NIL adjustment under Section 92CA.

What were the issues?

Whether the appeal needs to be pursued when the underlying issue has been resolved by a subsequent order giving effect to the appellate directions.

Which sections of the Income-tax Act were involved?

Section 92CA

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘I-1’, NEW DELHI

Before: SHRI N.K. BILLAIYA, & MS. SUCHITRA KAMBLE

For Appellant: Shri Hiren Mehta, CA
Hearing: 25.08.2021Pronounced: 25.08.2021

PER N.K. BILLAIYA, ACCOUNTANT MEMBER

1.

This appeal by the assessee is preferred against the order of the Commissioner of Income Tax [Appeals]-44, New Delhi dated 24.07.2018 pertaining to Assessment Year 2013-14.

2.

At the very outset, the counsel filed the following letter before the Bench :-

Dated: 24.08.2021 1-1 Bench, UAT, 10th Floor, Lok Nayak Bhawan, Khan Market, New Delhi-110003 Sub: IT A No. 8499/D/18 for A.Y. 2013-14 in the case of Cosmos Trade Exim Pvt. Ltd. Hon'ble Bench, With regard to the captioned 3TA Fixed for hearing on 25.08.2021, the appellant is requesting for withdrawal of the above appeal in view of the following:

1. 1. It is submitted that against the order of CIT (A) dated 24.07.2018 an appeal was filed since the grievances raised by the appellant against the order of TPO were partly allowed by CIT (A).

2. Thereafter, a stay application dated 15.09.2018 was filed requesting for stay against recovery of demand pursuant to the order passed by CIT (A).

3. During the course of hearing of the stay application the Hon'ble ITAT directed the DR to get the working of demand after appeal effect verified, on various dates.

4. It is submitted that the TPO has passed an order dated 25.10.2018 giving effect to the directions of CIT (A) in Appeal No. 94/2017-18. A copy of said appeal effect order is enclosed herewith. Upon perusal of the appeal effect order passed by the TPO, it can be noted that NIL adjustment u/s 92CA has been computed. In view of the above, it is requested that the appellant may be permitted to withdraw the captioned appeal pending before ITAT. Thanking you, Yours faithfully, For Dinesh Mehta & Co. Chartered Accountants (Nirbhay Mehta) Advocate

3.

In view of the above, this appeal filed by the assessee is dismissed as withdrawn.

The order is pronounced in the open court on 25.08.2021 in the presence of both the rival representatives.

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