SRI. BHASHYAKAR NARAKESARI,BENGALORE vs. INCOME TAX OFFICER, WARD-1(3)(2), BENGALURU

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ITA 3063/BANG/2018Status: DisposedITAT Bangalore07 July 2020AY 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The Tribunal dismissed the appeal as withdrawn. The assessee was granted liberty to move an application for recall of the order if Form 1 was not accepted by the department and the assessee did not accept the liability mentioned in Form 3.

What were the facts?

The assessee filed an appeal against the CIT(A)'s order confirming an addition of Rs. 70,46,610 made by the AO. The assessee expressed apprehension regarding the acceptance of tax liability mentioned in Form 1 by the department.

What were the issues?

The primary issue was the addition made by the AO and the assessee's apprehension regarding tax liability acceptance. The appeal was ultimately dismissed as withdrawn.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘A’ BENCH : BANGALORE

Before: SHRI. B. R. BASKARAN & SMT. BEENA PILLAI

For Appellant: Shri Suresh Muthukrishnan, C.A
For Respondent: Shri Manjeet Singh, Addl. CIT

ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeal has been filed by assessee against order dated 02/08/2018 passed by Ld.CIT(A)-10, for assessment year 2014-15. Assessee is aggrieved by decision of Ld.CIT(A) in confirming addition of Rs.70,46,610/- by Ld.AO u/s 143(3) of the Act for year under consideration. time Form no.3 is received from department, meaning thereby, assessee wants to make sure that tax liability mentioned in Form no.1 should be accepted by the department. Considering the apprehension of Ld.AR, since we are dismissing present appeal, assessee is given liberty to move appropriate application for recall of present order, in the event Form 1 is not accepted by department, and assessee does not accept the liability mentioned in Form 3, in accordance with the law.

Accordingly, with above liberty we dismiss present appeal by assessee as withdrawn.

In the result, the appeal of assessee is dismissed as withdrawn.

Order pronounced in the open court on 7th July, 2020

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