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Facts
This appeal, for Assessment Year 2019-20, was filed against an order of the Principal Commissioner of Income Tax, Patna, dated 23/03/2024. During the hearing, the appellant sought to withdraw the appeal, citing a subsequent reassessment order passed under Section 263 by the ACIT. The revenue had no objection to the withdrawal.
Held
The Tribunal granted the appellant's prayer, allowing the withdrawal of the appeal. Consequently, the appeal was dismissed as withdrawn.
Key Issues
The primary issue was whether the appellant's request to withdraw the appeal, in light of a subsequent reassessment order under Section 263, should be allowed by the Tribunal.
Sections Cited
Section 263 of the Income Tax Act
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Income Tax Appellate Tribunal, RANCHI BENCH, RANCHI
Before: SHRI SONJOY SARMA & SHRI RATNESH NANDAN SAHAY
Assessee represented by Petition Filed Department represented by Shri Rajiv Jain, CIT-DR Date of hearing 03/07/2025 Date of pronouncement 28/07/2025 O R D E R PER: RATNESH NANDAN SAHAY, A.M.
This appeal by the appellant is directed against the order of learned Principal Commissioner of Income Tax, Patna at Ranchi [in short, the ld. PCIT] dated 23/03/2024 for the Assessment Year (AY) 2019-20.
At the time of hearing, an application dated 03/07/2025 has been filed praying that the appellant wants to withdraw the present appeal on the ground that the subsequent order passed under Section 263 vide order dated 23/03/2024, the case of assessee was reassessed by the learned ACIT, Central Circle, Dhanbad and the order has been passed by him on 23/01/2025. The learned. CIT-DR for the revenue has no objection if the appellant is allowed to withdraw this appeal. Therefore, considering the prayer of the appellant, we allow the appellant to withdraw the present appeal. Consequently, this appeal filed by the appellant is dismissed as withdrawn.