Loading judgment…
Facts
The assessee filed an appeal against an order passed by the PCIT u/s.263 of the Income-Tax Act, 1961, which arose from an assessment order passed u/s.153A. The assessee later sought to withdraw the appeal.
Held
The Tribunal allowed the assessee's request to withdraw the appeal, noting that the Assessing Officer made no addition after verification of issues, rendering the appeal academic. The appeal was dismissed as 'Withdrawn'.
Key Issues
Whether the appeal filed against the PCIT's order can be withdrawn by the assessee when the underlying issues have become academic.
Sections Cited
263, 153A
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, PUNE BENCHES “A”, PUNE
Before: DR.MANISH BORAD & SHRI VINAY BHAMORE
आदेश / ORDER
PER DR. MANISH BORAD, ACCOUNTANT MEMBER :
The captioned appeal pertaining to the Assessment Year 2017-18 at the instance of assessee is directed against the order dated 12.03.2024 passed by PCIT (Central), Pune u/s.263 of the Income-Tax Act, 1961 (in short ‘the Act’ which inturn is arising out of the Assessment order dated 20.04.2021 passed u/s.153A of the Act.
At the outset, ld. Counsel for the assessee filed a letter dated 28.01.2024 seeking withdrawal of the appeal filed by assessee for the reason that pursuant to the order passed by the ld.PCIT(Central), Pune the ld. Assessing Officer after verification of the issues has made no addition. Therefore, the appeal has become academic in nature. In this regard, ld. Counsel also filed the copy of assessment order dated 24.12.2024 passed u/s.153A r.w.s.263 of the Act. Ld. Departmental Representative has no objection for withdrawal of the appeal filed by the assessee. We therefore allow the request of the assessee to withdraw the appeal filed by it.
In the result, the appeal of the assessee is dismissed as ‘Withdrawn’.
Order pronounced on this 30th day of January, 2025.