HLL MANAGEMENT ACADEMY,TRIVANDRUM vs. ITO (EXEMPTION), TRIVANDRUM

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ITA 485/COCH/2023Status: DisposedITAT Cochin21 January 2025AY 2016-17Bench: SHRI INTURI RAMA RAO (Accountant Member), SHRI SOUNDARARAJAN K. (Judicial Member)3 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?

During the tribunal hearing, the assessee's counsel sought to withdraw the appeal. The Senior DR for the respondent had no objection to this request. Consequently, the tribunal dismissed the appeal as withdrawn.

What were the facts?

HLL Management Academy, a charitable society, filed its return for AY 2016-17, which was subsequently assessed under Section 143(3) by the AO, determining a loss. This assessment was later confirmed by the CIT(A), leading the assessee to appeal before the Income Tax Appellate Tribunal.

What were the issues?

Correctness of the CIT(A)'s order confirming the assessment under Section 143(3) of the Income Tax Act.

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, COCHIN BENCH

Before: SHRI INTURI RAMA RAO, AM & SHRI SOUNDARARAJAN K., JM

For Appellant: Shri Roopesh, CA
For Respondent: Smt. Leena Lal, Sr. D.R
Hearing: 16.12.2024Pronounced: 21.01.2025

O R D E R Per: Inturi Rama Rao, AM This appeal filed by the assessee is directed against the order of the National Faceless Appeal Centre, Delhi [CIT(A)] dated 16.05.2023 for Assessment Year (AY) 2016-17.

2.

Brief facts of the case are that the appellant is a charitable society registered under the Travancore Kochi Literary Scientific and Charitable Societies Registration Act, 1944. The appellant filed HLL Management Academy its return of income for 2016-17 on 30.09.2016 and revised the return on 11.10.2016 declaring an income of Rs. 78,72,988. Against the said return of income, assessment was completed by the Income Tax Officer (Exemption), Trivandrum (hereafter “the AO”) vide order dated 26.12.2018 passed u/s. 143(3) of the Income Tax Act, 1961 (the Act) determining the total loss at Rs. 56,83,608/-.

3.

Being aggrieved, an appeal was filed before the CIT(A), who vide the impugned order confirmed the action of the AO.

4.

Being aggrieved, the appellant is in appeal before us in the present appeal.

5.

At the outset the learned counsel for the assessee informed that assessee intend, to withdraw the present appeal. The learned Sr. DR did not raise any serious objection to the learned A.R.’s request.

6.

In the result, the appeal filed by the assessee is dismissed as withdrawn.

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