PANTHEON INVESTMENTS & HOLDINGS,MUMBAI vs. ITO 21 (2)(5), MUMBAI

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ITA 1425/MUM/2019Status: DisposedITAT Mumbai22 June 2021AY 2010-113 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 tribunal noted the assessee's request to withdraw the appeal. Consequently, the tribunal dismissed the appeal as withdrawn.

What were the facts?

The assessee filed an appeal before the ITAT for Assessment Year 2010-11. The assessee's authorized representative submitted a letter requesting withdrawal of the appeal.

What were the issues?

The primary issue was the assessee's decision to withdraw the appeal due to lost documents and inability to reconstruct them, and the demand already being paid.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘C‘ BENCH

Before: SHRI MAHAVIR SINGH & SHRI M.BALAGANESH

For Appellant: Shri Manan Mathur
For Respondent: Ms. Shreekala Pardeshi
Hearing: 21/06/2021Pronounced: 22/06/2021

आदेश / O R D E R PER M. BALAGANESH (A.M):

1.

This appeal in A.Y.2010-11 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-48, Mumbai in appeal No.CIT(A)-48/IT-337/ITO-21(2)(5)/2018-19 dated 22/02/2019 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) r.w.s. 147 of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 15/03/2016 by the ld. Income Tax Officer- 21(2)(5), Mumbai (hereinafter referred to as ld. AO).

M/s. Pantheon Investments & Holdings

2.

Assessee vide its authorised representative's letter dated 18/06/2021, prayed for withdrawal of appeal in . For the sake of convenience, we are reproducing the contents of the said Application as under:-

“Under the instructions from our above mentioned appellant, we submit as under: We draw your Honors's kind attention to the hearing scheduled on 21.06.2021 before your Honors for the captioned appeal. In this regard, we humbly submit before your Honors that the appellant does not wish to pursue this appeal as the matter pertains to an old AY i.e AY 2010-11 for which certain documents required for the appeal were destroyed in a fire in the office premises. Further, due to the onset of the 2nd wave of Covid-19, the appellant is unable to reconstruct the files by visiting the tax department. Accordingly, to buy peace of mind and since the entire demand raised as already been paid, the appellant does not wish to pursue the captioned appeal. Hence, in view of the above reasons, we request your Honors to take the above on record and consider our request favorably. We regret causing any inconvenience to your Honors.”

3.

In view of the same, the appeal of the assessee is hereby dismissed as withdrawn.

4.

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

Order pronounced on 22/06/2021 by way of proper mentioning in the notice board.

Sd/- Sd/- (MAHAVIR SINGH) (M.BALAGANESH) VICE PRESIDENT ACCOUNTANT MEMBER Mumbai; Dated 22/06/2021 KARUNA, sr.ps

M/s. Pantheon Investments & Holdings

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