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Facts
The assessee filed an appeal against a revision order passed by the PCIT under section 263. Subsequently, the assessee sought to withdraw the appeal, citing that a fresh assessment order, passed in consequence of the impugned revision order, resulted in a NIL addition, thus rendering the appeal infructuous.
Held
The Income Tax Appellate Tribunal acknowledged the assessee's application for withdrawal, agreeing that the appeal had become infructuous due to the subsequent assessment order with NIL addition. With no objection from the Revenue, the tribunal allowed the withdrawal.
Key Issues
Whether an appeal challenging a revision order under section 263 becomes infructuous and should be dismissed as withdrawn if a subsequent assessment order under section 143(3) is passed with NIL addition.
Sections Cited
263, 143(3)
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Income Tax Appellate Tribunal, DELHI BENCH ‘H’, NEW DELHI
Before: Dr. B. R. R. KumarSh. Yogesh Kumar US
ORDER
Per Dr. B. R. R. Kumar, Accountant Member:
The present appeal has been filed by the assessee against the order of ld. PCIT, Delhi-1 dated 15.03.2022. 2. The assessee has filed an application dated 02.11.2023 to withdraw this appeal and furnished application wherein it was stated as under:
Sir, In aforesaid connection, since present appeal is challenging impugned revision order passed u/s 263 (CIT revision) dated 15.03.2022 and subsequent to the same, recently Assessment Order is passed in consequence to impugned revision order dated 27.03.2023 (u/s 143(3)/263) on returned income with NIL addition, so present appeal has become infructuous due to this subsequent development. In light of this subsequent development, present appeal has been rendered infructuous so nothing survives to be 2 Attractive Capital Services Pvt. Ltd. adjudicated any further, accordingly, the present appeal my please be accordingly closed.
Humbly submitted, Sd/- (Kapil Goel) Adv./AR 3. The ld. DR did not object to the petition of the assessee.
In view of the above, the appeal of the assessee is dismissed as withdrawn. Order Pronounced in the Open Court on 18/01/2024.