TATA PROJECTS LTD,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX-2, MUMBAI

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ITA 2453/MUM/2018Status: DisposedITAT Mumbai24 September 2018AY 2013-144 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 permitted the withdrawal of the appeal as the Assessing Officer had already adjudicated the issues in favour of the assessee while giving effect to the revision order. The appeal had become academic.

What were the facts?

The assessee filed an appeal against a revision order by the Principal Commissioner of Income Tax. The assessee later requested to withdraw the appeal, stating that the Assessing Officer was undertaking verification and they did not wish to argue on technical grounds.

What were the issues?

Whether the assessee's appeal against a revision order, which was subsequently rendered academic due to favorable adjudication by the AO, should be permitted to be withdrawn.

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, “E” BENCH, MUMBAI

For Appellant: Ms Charul Toprani, AR

This appeal filed by the assessee is arising out of the Revision order of Pr. Commissioner of Income Tax -2, Mumbai [in short CIT(A)], in appeal No. Nil, dated 22.02.2018. The Assessment was framed by the Dy. Commissioner of Income Tax, Mumbai (in short ‘DCIT/ AO’) for the A.Y. 2013-14 vide order dated 24.02.2016 under section 143(3) of the Income Tax Act, 1961 (hereinafter ‘the Act’).

2.

At the outset, the learned Counsel for the assessee filed a letter dated 20.09.2018 under the instruction of the assessee and requested for withdrawal of the appeal by stating as under: - “The above referred appeal is filed by TPL against the order dated 22 February 2018 passed by Principal Commissioner of Income-tax, Range-2 (‘PCIT’) under section 263 of the Act.

In this connection, under instructions of and on behalf of TPL, we would like to state as under:

In the said order, the Hon’ble PCIT, has remanded the matter back (on the issues considered for revision of the assessment order as per the provisions of section 263 of the Act) to the file of the Assessing Officer to allow the claims of the Appellant after due verification and inquiries. However, the Appellant contends that in respect of some of the issues raised for making a revision of the assessment order was prejudicial to the interest of the revenue as the Appellant had suo-moto made disallowances for the said amounts under dispute in its return of income for it to be prejudicial to the interest of the revenue department.

In view of the above fact, TPL also wishes to submit that as the Assessing Officer is in the process of undertaking the verification, it would not wish to argue the matter on technical grounds and accordingly wish to withdraw their appeal.

TPL therefore request your Honours to kindly permit them to withdraw the appeal and oblige. We regret the inconvenience caused to your Honours in this regard, if any."

3.

On query from the Bench, the learned CIT Departmental Representative, has not objected to the withdrawal. Since, the AO has already adjudicated the issues in favour of assessee while giving effect to the revision order passed by PCIT under section 263 of the Act and hence, this appeal has become academic. In view of the reasons stated above, we permit the withdrawal. The appeal of assessee is dismissed as withdrawn.

4.

In the result, the appeal of assessee is dismissed as withdrawn. Order pronounced in the open court on 24-09-2018.

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