KRISHI UTPADAN MANDI SAMITI,AGRA vs. ACIT CPC, AGRA

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ITA 254/AGR/2018Status: DisposedITAT Agra09 July 2018AY 2015-162 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 Assessing Officer allowed the assessee's application for exemption under Section 10(26AAB) after a rectification application. Consequently, the demand was reduced to NIL.

What were the facts?

The assessee filed an appeal against an order under Section 143(1). Subsequently, the assessee filed an application under Section 154 before the AO claiming exemption under Section 10(26AAB). The AO allowed this application, reducing the demand to NIL.

What were the issues?

Whether the assessee is eligible for exemption under Section 10(26AAB) and whether the appeal is maintainable after the AO's favorable order.

Which sections of the Income-tax Act were involved?

Section 143(1),Section 154,Section 10(26AAB)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AGRA BENCH: AGRA

Before: SHRI A. D. JAIN & DR. MITHA LAL MEENA

For Appellant: Shri Mahendra Pal Singh
For Respondent: Shri Waseem Arshad, Sr
Hearing: 03.07.2018Pronounced: 09.07.2018

IN THE INCOME TAX APPELLATE TRIBUNAL AGRA BENCH: AGRA BEFORE SHRI A. D. JAIN, JUDICIAL MEMBER AND DR. MITHA LAL MEENA, ACCOUNTANT MEMBER

I.T.A No. 254/Agra/2018 (ASSESSMENT YEAR-15-16)

M/s Krishi Utpadan Mandi Samiti, Vs.. Asstt. CIT, (CPC), Bangalore, Fatehabad, Agra. (Local ITO-Exemption-Agra. PAN No.AAALK0542P (Assessee) (Revenue)

Assessee by Shri Mahendra Pal Singh, AR. Revenue by Shri Waseem Arshad, Sr. DR.

Date of Hearing 03.07.2018 Date of Pronouncement 09.07.2018

ORDER PER, A. D. JAIN, JUDICIAL MEMBER: The ld. Counsel for the assessee has submitted an application on 22nd June, 2018, with a request that “ against the order u/s 143(1) of the CPC the appellant had filed an application u/s 154 of Income-tax Act, 1961 before the AO on 01.06.2018 claiming exemption u/s 10(26AAB) of the Income tax Act, 1961. Considering the said application, the AO has allowed the application by the

I.T.A No. 254/Agra/2018 2

assessee samiti and the consequential demand has been reduced to NIL”. The ld. Counsel for the assessee seeks the permission to withdraw the appeal.

2.

The ld. DR would have no objection. We, therefore, allow the application

filed by the ld. Counsel of the assessee, and dismiss the appeal of the assessee as

withdrawn.

3.

In the result, the appeal filed by the assessee is dismissed as withdrawn.

Order pronounced in the open court on 09/07/2018. Sd/- Sd/- (DR. MITHA LAL MEENA) (A.D. JAIN) ACCOUNTANT MEMBER JUDICIAL MEMBER *AKV* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR

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