KNA SHARE BROKERS (P) LTD,KOLKATA vs. PR.CIT-2, KOLKATA

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ITA 392/KOL/2020Status: DisposedITAT Kolkata06 January 2022AY 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 tribunal noted that the appeals were against actions taken under Section 263 of the Income-tax Act. The tribunal allowed the assessee to withdraw both appeals.

What were the facts?

The assessee filed two appeals before the ITAT against orders passed by the Principal Commissioner of Income Tax under Section 263. The assessee's advocate informed the tribunal that the appeals were being withdrawn as per the assessee's instructions.

What were the issues?

Whether the assessee is permitted to withdraw appeals filed against orders passed under Section 263 of the Income-tax Act.

Which sections of the Income-tax Act were involved?

Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, KOLKATA

Before: Shri A. T. Varkey, JM & Shri Rajesh Kumar, AM]

Pronounced: 06.01.2022

ORDER Per Shri Rajesh Kumar, AM Both these appeals preferred by the assessee are against the separate orders of Ld. Pr. CIT-2, Kolkata dated 29.05.2020 and 18.06.2020 for AYs 2010-11 and 2015-16.

2.

At the outset, it has been brought to our notice by the Ld. AR of the assessee Shri Subhas Agarwal that these two appeals preferred by the assessee are being withdrawn as per the instruction of the assessee. Since these are the appeals preferred against the action of the Ld. Pr. CIT passed u/s. 263 of the Income-tax Act, 1961, we are inclined to allow the assessee to withdraw both the appeals.

3.

In the result, both the appeals of the assessee are dismissed as withdrawn

Order is pronounced in the open court.

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