GAP INTERNATIONAL SOURCING (INDIA) PVT. LTD.,NEW DELHI vs. DCIT, CIRCLE-10(1), NEW DELHI

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ITA 7338/DEL/2018Status: DisposedITAT Delhi07 May 2021AY 2014-152 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal accepted the assessee's request to withdraw the appeal as it had become infructuous due to the revised assessment order. The appeal was accordingly dismissed as withdrawn.

What were the facts?

The assessee filed an appeal before the ITAT. Subsequently, the assessee filed a rectification application with the DRP, which accepted the contention and directed the TPO to re-compute the adjustment. The TPO then deleted the entire adjustment, reducing the tax demand to NIL.

What were the issues?

Whether the appeal has become infructuous due to subsequent actions taken by the DRP and TPO, leading to a NIL tax demand.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘FRIDAY’ : NEW DELHI

Before: SHRI G.S. PANNU & SHRI KUL BHARAT

For Appellant: Shri Mahesh Thakur, Sr. DR
For Respondent: Shri Mahesh Thakur, Sr. DR
Hearing: 07.05.2021Pronounced: 07.05.2021

ORDER PER G.S. PANNU, VP :

This appeal by the assessee for the assessment year 2014-15 is directed against the order of Learned Assessing Officer.

2.

At the time of hearing, Ld. Counsel for the assessee has submitted that assessee had filed a rectification application before the Ld. DRP in conjunction with the appeal filed before the Tribunal and the Ld. DRP has passed the directions under Rule 13 of the Income Tax (DRP) Rules, 2009 on 11.12.2018 accepting the assessee’s contention and directed the TPO to re-compute the adjustment amount. It was further submitted that accordingly, the Ld. TPO has passed the order giving effect to the aforementioned directions, wherein the entire adjustment previously computed by the Ld. TPO was deleted and consequently, the entire total tax demand was reduced to NIL in the revised assessment order. Therefore, subsequent to the revised DRP’s directions and the order passed by the Ld. TPO/AO, the instant appeal has become infructuous. Hence, he requested for withdrawal of the captioned appeal filed by the assessee. In support of aforesaid contentions, the assessee has filed a letter dated 12.4.2021, which is placed on record.

3.

Learned Senior DR has no objection on the aforesaid request of the Ld. Counsel for the assessee.

4.

In view of the above, we accept the request of the assessee’s counsel for withdrawal of the aforesaid appeal.

5.

In the result, the appeal of the assessee is dismissed as withdrawn.

Above decision was pronounced in the presence of both the parties upon conclusion of virtual hearing on 07th May, 2021.

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