What did the Tribunal hold?

The Tribunal dismissed the assessee's appeal as withdrawn based on the assessee's request. The assessee was no longer aggrieved by the order as the deficit, including depreciation, was allowed to be carried forward.

The assessee trust filed an appeal against the CIT(A)'s order. However, the assessee later requested to withdraw the appeal. The reason for withdrawal was that the Tribunal had already dismissed the Revenue's appeal, upholding the CIT(A)'s decision to allow carry forward of deficit, including depreciation.

What were the issues?

The primary issue was the assessee's request for withdrawal of its appeal. The underlying context involved the allowability of carry forward of deficit, including depreciation.

Shri Prayagdham Trust vs ITO | ITAT Mumbai 2018

Income Tax Appellate Tribunal, MUMBAI BENCH “G”, MUMBAI

Before: SHRI C.N. PRASAD, HONBLE & SHRI N.K. PRADHAN, HONBLEShri Prayagdham Trust v.

For Appellant: Shri Hardik Nirmal

For Respondent: Shri Vidyadhar

Hearing: 03.04.2018Pronounced: 03.04.2018

Date of Hearing : 03.04.2018 Date of Pronouncement : 03.04.2018 O R D E R PER C.N. PRASAD 1. This appeal is filed by the assessee against the order of the Learned Commissioner of Income Tax (Appeals)-1, Mumbai dated 10.05.2016 for the Assessment Year 2010-11.

Assessee by letter dated 02nd April, 2018 requested for withdrawal 2. of appeal for the reason that the Hon'ble Tribunal vide order dated 31.10.2017 already dismissed the appeal of the Revenue whereby the Ld.CIT(A) allowed the assessee’s claim for carry forward of deficit for the (A.Y: 2010-11) Shri Prayagdham Trust year under consideration. It is further stated that since the deficit was allowed to be carried forward also includes the claim for depreciation, the assessee is no longer aggrieved and wish to withdraw the appeal. In view of the above letter and reason given by the assessee for withdrawal, we dismiss the appeal of the assessee as withdrawn.

In the result, appeal of the assessee is dismissed.

Order pronounced in the open court on the 03rd April, 2018.

SHRI PRAYAGDHAM TRUST,MUMBAI vs. ITO (EXEMPTION) II-(1), MUMBAI

What did the Tribunal hold?

What were the facts?

What were the issues?

Recent GST High Court judgments