PARTHRAJ DEVELOPERS PRIVATE LIMITED,NASHIK vs. PR COMMISSIONER OF INCOME-TAX -1, NASHIK

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ITA 138/PUN/2021Status: HeardITAT Pune20 April 2022AY 2016-173 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's request to withdraw the appeal. The appeal was dismissed as withdrawn, with no objection from the Revenue.

What were the facts?

The assessee filed an appeal against an order passed by the Pr.CIT under Section 263. Subsequently, the jurisdictional Assessing Officer completed the assessment after verifying facts and evidence. The assessee then sought to withdraw the appeal to avoid further litigation.

What were the issues?

Whether the assessee should be allowed to withdraw the appeal after the assessment has been completed and the original order under challenge has been superseded.

Which sections of the Income-tax Act were involved?

Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCH “B”, PUNE

Before: SHRI R.S. SYAL & SHRI PARTHA SARATHI CHAUDHURY

For Respondent: Shri B.K. Rao

आदेश / ORDER PER R.S. SYAL, VP :

1.

This appeal by the assessee is directed against the order dated 12-03-2021 passed by the Pr.CIT, Nashik-1 in relation to the assessment year 2016-17.

2.

Before us, the AR of the assessee has filed a letter dated 19-04-2022 seeking permission to withdraw the appeal. The relevant contents of such letter reads as under : “With reference to above, the hearing is fixed on 20th April, for A.Y. 2016-17. The assessee has filed appeal before honorable ITAT against the order of PCIT passed u/s.263 of the Act. On 29th April, 2022 meantime The Jurisdictional Assessing Officer after verifying the facts with the evidence as point out by Pr. CIT in the order u/s.263 of the Act completed the assessment, the copy of order is enclosed.

On behalf of our client we are requesting to honorable bench to allow to withdraw the appeal. The company wants quiets the matter to avoid the further litigation. Please do the needful and oblige.”

3.

On perusal of the above letter and having no objection from the side of ld. DR, we allow the request of assessee to withdraw the appeal.

4.

In the result, the appeal is dismissed as ‘withdrawn’. Order pronounced in the Open Court on 20th April, 2022.

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