CHHABRA ISPAT (P) LTD,KOLKATA vs. DCIT, CIR. 3(1), KOLKATA

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ITA 279/KOL/2021Status: DisposedITAT Kolkata02 March 2022AY 2014-152 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 allowed the assessee to withdraw the appeal. The grounds raised were considered premature, and the issue was left open for future agitation if permitted by law.

What were the facts?

The assessee filed an appeal against the order of the CIT(A) for AY 2014-15. The assessee sought to withdraw the appeal due to a subsequent event in AY 2013-14 affecting the grounds raised.

What were the issues?

The primary issue was whether the grounds raised in the appeal were premature due to subsequent events impacting earlier assessment years.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, KOLKATA

Before: Shri A. T. Varkey, JM & Shri Manish Borad, AM ]

Hearing: 23.02.2022Pronounced: 02.03.2022

ORDER

Per Shri Manish Borad, AM:

1.

This is an appeal preferred by the assessee against the order of Ld. CIT(A), National Faceless Appeal Centre (NFAC) dated 16.08.2021 for AY 2014-15.

2.

At the outset, the Ld. Counsel for the assessee Shri Siddarth Agarwal, Advocate submitted that he would like to withdraw the appeal since the grounds regarding set off of loss claimed by the assessee for this relevant assessment year has got effected due to subsequent event happening for earlier year (AY 2013-14) after filing of Return of Income for this relevant assessment year (2014-15). And the assessee is agitating the validity of the action of AO for earlier year (AY 2013-14). So the ground which is raised before us is premature. We allow the assessee to withdraw the appeal with the liberty to file later and agitate the same if permitted by law. And the issue which is raised before us is left open. 3. In the result, the appeal of the assessee is dismissed as withdrawn. Order is pronounced in the open court on 02nd March, 2022.

Sd/- Sd/- (Aby. T. Varkey) (Manish Borad) Judicial Member Accountant Member Dated : 2nd March, 2022 JD(Sr.P.S.)

Chhabra Ispat Pvt. Ltd., AY 2014-15 Copy of the order forwarded to:

1. 1. Appellant – M/s. Chhabra Ispat Pvt. Ltd., C/o Subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, suit 213, 2nd floor, Kolkata-700 069. 2 Respondent –DCIT, Circle-3(1), Kolkata 3. CIT(A), NFAC, Delhi.

4. PCIT , Kolkata 5. DR, ITAT, Kolkata. (sent through e-mal)

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