REGEN RENEWABLE ENERGY GENERATION GLOBAL LIMITED, CYPRUS,CHENNAI vs. DCIT INTERNATIONAL TAXATION 2(1), CHENNAI

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ITA 1338/CHNY/2018Status: DisposedITAT Chennai04 November 2019AY 2013-143 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 held that since the rate of tax was accepted in the final assessment order, the proceedings under Section 154 became infructuous. Consequently, the appeal filed before the Tribunal also became infructuous.

What were the facts?

The assessee's appeal arose from proceedings initiated under Section 154 of the Income-tax Act concerning the determination of the rate of tax. The Assessing Officer had accepted the returned income and the rate of tax in the final assessment order.

What were the issues?

Whether an appeal arising from a Section 154 proceeding is maintainable when the issue sought to be rectified has been accepted in the final assessment order.

Which sections of the Income-tax Act were involved?

Section 154

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘D’ BENCH, CHENNAI

Before: SHRI N.R.S. GANESAN & SHRI RAMIT KOCHAR

For Appellant: CA यथ क ओरसे /
For Respondent: Dr. M. Srinivasa Rao, CIT
Hearing: 04.11.2019Pronounced: 04.11.2019

आदेश /O R D E R

PER N.R.S. GANESAN, JUDICIAL MEMBER:

1.

This appeal of the assessee is directed against the order of the Commissioner of Income Tax (Appeals) -16, Chennai, dated 05.04.2018 and pertains to assessment year 2013-14.

2.

When the appeal was taken up for hearing, Sh. B.

Ramakrishnan, the Ld. representative for the assessee, submitted that the returned income was accepted by the Assessing Officer in the final assessment order passed consequent to the direction of the Dispute Resolution Panel. Even the rate of tax, which was objected by application under Section 154 of the Income-tax Act, 1961 (in short 'the Act') was also accepted by the Assessing Officer in the final order. According to the Ld. representative, the present appeal is arising out of the proceeding initiated under Section 154 of the Act in respect of determination of rate of tax. Since the rate of tax is accepted in the final assessment order, according to the Ld. representative, the proceeding initiated under Section 154 of the Act became infructuous. Consequently, the appeal filed before this Tribunal has become infructuous. Hence, the Ld. representative submitted that he was instructed to withdraw the appeal. The Ld. representative has also made endorsement to that effect in the appeal folder.

3.

Dr. M. Srinivasa Rao, the Ld. Departmental Representative, has no objection to dismiss the appeal as withdrawn.

4.

In view of the above, this appeal of the assessee is dismissed as withdrawn.

Order pronounced in the court open on 4th November, 2019 at Chennai.

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