METROPOLITAN STOCK EXCHANGE OF INDIA PRIVATE LIMITED,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX - 14, MUMBAI

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ITA 3897/MUM/2018Status: DisposedITAT Mumbai19 March 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 assessee requested to withdraw the appeal as the subsequent assessment order made no additions. The Departmental Representative had no objection to the withdrawal.

What were the facts?

The assessee filed an appeal against an order passed under section 263 of the Income Tax Act. Subsequently, the Assessing Officer passed an order under section 143(3) read with section 263, accepting the total income without any additions.

What were the issues?

Whether the appeal filed against a revision order is maintainable when a subsequent assessment order has been passed without additions.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “D” BENCH, MUMBAI

For Appellant: Shri Jitendra Trivedi, AR
Hearing: 19.03.2019Pronounced: 19.03.2019

AadoSa / O R D E R महावीर स िंह, न्याययक दस्य/ PER MAHAVIR SINGH, JM:

This appeal filed by the assessee is arising out of the order of Pr. Commissioner of Income Tax (Appeals)-14, Mumbai [in short PCIT], Appeal No. Pr. CIT-14/263/2017-18 vide order dated 28.03.2018. The ITAs No. 916/Mum/2018 Assessment was framed by the Dy. Commissioner of Income Tax, Circle- 14(2)(2), Mumbai (in short ‘DCIT/ITO/ AO’) for the A.Y. 2013-14 vide order dated 31.03.2016 under section 143(3) of the Income Tax Act, 1961 (hereinafter ‘the Act’).

2.

The learned counsel for the assessee moved an application dated 18.03.2019 and seeking withdrawal of this appeal by stating the following reason: - “This is in reference to the caption appeal filed by appellant against the order dated 28.03.2018 passed under section 263 of the Income-tax Act, (the ‘Act’), by CIT-14, Mumbai for AY 2013-14 (‘revision order’). The hearing in the matter of appeal is scheduled for tomorrow i.e. on 19.03.2019. In this regard, on behalf of and under instruction of our above mentioned client, we would like to humbly submit that in pursuance of the aforesaid revision order dated 28.03.2018, the Ld. ACIT 14(2)(2), Mumbai (‘AO’) has passed an order dated 27.12.2018 under section 143(3) read with section 263 of the Act, making the assessment without any additions and thus accepted the total income as earlier in the assessment order dated 31.03.2016. In view of the aforesaid, the appellant respectfully withdraws the captioned appeal.

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