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Income Tax Appellate Tribunal, C BENCH, MUMBAI
order : 30.08.2022 O R D E R Per Rahul Chaudhary, Judicial Member: 1. By way of the present appeal the Appellant/Assessee has challenged the order, dated 20.04.2020, passed by the Ld. Principal Commissioner of Income Tax-14, Mumbai [hereinafter referred to as ‘the PCIT’] under Section 263 of the Income Tax Act, 1961 [hereinafter referred to as ‘the Act’] in respect of assessment order, dated 08.12.2017, passed by the Deputy
Assessment Year: 2014-15 Commissioner of Income Tax-14(1)(2) under Section 143(3) read with Section 92CA(4) of the Act.
When the matter was taken up for hearing, the Ld. Authorised Representative for the Appellant placed on record letter, dated 26.08.2022, seeking withdrawal of the appeal stating that the prescribed period of 12 months for passing the assessment order in consequence of the revision order, dated 20.04.2020, passed by the PCIT under Section 263 of the Act had expired. Therefore, the Appellant, without prejudice to the contentions on the merits of the appeal, wanted to withdraw the present appeal with the liberty to revive the present appeal or to file a fresh appeal in case an assessment order is subsequently passed by the Assessing Officer.
In view of the above, the present appeal is dismissed as withdrawn.
Order pronounced on 30.08.2022.