M/S. BALANCE EQUITY BROKING (INDIA) PVT. LTD,MUMBAI vs. DCIT 4(1)(1), MUMBAI

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ITA 6662/MUM/2018Status: DisposedITAT Mumbai26 February 2020AY 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 assessee requested to withdraw the appeal as the grounds no longer survived due to the relief granted by the Assessing Officer. The Tribunal permitted the withdrawal of the appeal.

What were the facts?

The assessee filed an appeal against the order of the CIT(A) concerning assessment under section 147 read with section 143(3) for AY 2010-11. The assessee later submitted that the Assessing Officer had given the desired relief as per the CIT(A)'s directions.

What were the issues?

Whether the appeal needs to be adjudicated when the assessee has already received the relief sought, rendering the grounds infructuous.

Which sections of the Income-tax Act were involved?

Section 147,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH, MUMBAI

Before: SHRI SANJAY ARORA & SHRI VIKAS AWASTHY

For Respondent: Ms. Kavita P. Kaushik (Sr. DR)
Pronounced: 26.02.2020

26.02.2020 सुनवाई क" तार"ख / Date of Hearing घोषणा क" तार"ख /Date of Pronouncement 26.02.2020 आदेश / O R D E R Per Sanjay Arora, AM:

This is an Appeal by the Assessee agitating the Order by the Commissioner of Income Tax (Appeals)–2, Mumbai ( ‘CIT(A)’) dated 21.9.2018, partly allowing the assessee’s appeal contesting its’ assessment u/s. 147 r/w s. 143(3) of the Income Tax Act, 1961 (in short ‘the Act’) dated 29.9.2016 for Assessment Year (AY) 2010-11. M/s. Balance Equity Broking (Ind) Pvt Ltd, Mumbai.

2.

At the very outset, it was submitted by the ld. counsel for the assessee, Sh. Phadke, that the assessee having been allowed the desired relief by virtue of the appeal-effect giving order dated 17.12.2018 by the Assessing Officer (AO), i.e., pursuant to the direction by the ld. CIT(A), the grounds of the instant appeal survive no longer. The same may therefore be permitted to be withdrawn, also placing his request dated 25.02.2020 toward the same on record. The ld. Sr. DR, Ms. Koushik conveys no objection to the same. Under the circumstances, we have no hesitation in permitting the assessee to withdraw its’ appeal. We decide accordingly.

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