HEXA INDUSTRIES P LTD,CHENNAI vs. THE PCIT, CHENNAI

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ITA 251/CHNY/2021Status: DisposedITAT Chennai20 July 2022AY 2016-172 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's counsel requested to withdraw the appeal as a consequential order under Section 143(3) had been passed accepting the original returned income. The Revenue did not oppose this request.

What were the facts?

The assessee filed an appeal before the ITAT against an order passed by the Principal Commissioner of Income Tax under Section 263. The appeal was delayed by 51 days due to the COVID-19 pandemic.

What were the issues?

Whether the appeal should be dismissed as withdrawn by the assessee due to subsequent favorable order.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3)

AI-generated summary — verify with the full judgment below

Before: Shri V. Durga Rao & Shri G. Manjunatha

Hearing: 11.07.2022Pronounced: 11.07.2022

O R D E R

PER V. DURGA RAO, JUDICIAL MEMBER:

1.

This appeal filed by the assessee is directed against the order of the ld. Principal Commissioner of Income Tax, Chennai-3, dated 21.03.2021 passed under section 263 of the Income Tax Act, 1961 [“Act” in short].

2.

The appeal filed by the assessee is delayed by 51 days in filing the appeal before the Tribunal due to COVID-19 pandemic and accordingly, the delay is condoned and admitted the appeal for adjudication.

3.

When the appeal was taken up for hearing, by filing a petition dated 08.06.2022 for withdrawal of the appeal, the ld. Counsel for the assessee has submitted that the assessee intends to withdraw the above appeal as the consequential order has been passed under section 143(3) of the Act accepting the original returned income. Accordingly, it was prayed for withdrawal of the appeal, against which, the ld. DR has not opposed to the submissions of the learned Counsel. In view of the above, the appeal filed by the assessee is dismissed as withdrawn.

4.

In the result, the appeal filed by the assessee is dismissed. Order pronounced on 11th July, 2022 at Chennai.

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