ITO (EXEMPTION)-2(1) MUMBAI, MUMBAI vs. MANGHNANI CHARITABLE TRUST, MUMBAI

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ITA 5343/MUM/2016Status: DisposedITAT Mumbai19 March 2018AY 2010-113 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal considered the submissions and allowed the Revenue's application to withdraw the appeal. Therefore, the appeal filed by the Revenue was dismissed as withdrawn.

What were the facts?

The Revenue was aggrieved by an order allowing the assessee's application for rectification and carry forward of deficit. During the hearing, the Revenue filed an application to withdraw their appeal.

What were the issues?

Whether the Revenue should be permitted to withdraw its appeal before the Tribunal.

Which sections of the Income-tax Act were involved?

Section 154

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCHES “J”, MUMBAI

Before: Shri Joginder Singh, & Shri N.K. Pradhan

Hearing: 19/03/2018

आदेश / O R D E R Per Joginder Singh (Judicial Member)

1.

The Revenue is aggrieved by the impugned order dated 30.06.2016, of the Ld. Commissioner of Income Tax (Appeal) directing the Assessing Officer to expedite

2 M/s. Manghnani Charitable Trust the disposal of application of the assessee made u/s 154 of the Act and allowing the carry forward of deficit of Rs. 1,40,94,545 and allowing set-off against income of the subsequent year.

2.

During the hearing, the learned D.R. filed an application dated 15.03.2018, with a request that the Department may be permitted to withdraw the appeal filed before the Tribunal. The learned D.R., Shri Saurabh Rai, contended that in view of the aforesaid application, the Department may be permitted to withdraw the appeal. The ld. Counsel for the assessee, Ms. Ruchi Tamhankar, have no objection to the request of the learned D.R.

3.

We have considered the rival submissions and perused the material available on record. Without going into much deliberation and in view of application of the Department dated 15.03.2018, and contention of the learned D.R., the Department is permitted to withdraw the appeal, therefore, the appeal of the Revenue is dismissed as withdrawn.

3 M/s. Manghnani Charitable Trust Finally, the appeal of the Revenue is dismissed as withdrawn.

This Order was pronounced in the open court in the presence of learned representatives from both sides at the conclusion of the hearing on 19th March, 2018.

Sd/- Sd/- (Joginder Singh) (N.K. Pradhan) ऱेखा सदस्य / ACCOUNTANT MEMBER न्याययक सदस्य / JUDICIAL MEMBER भुिंफई Mumbai; ददनािंक Dated : 19/03/2018 Pradeep J. Chowdhury, Sr. PS

आदेश की प्रयिलऱपप अग्रेपषि/Copy of the Order forwarded to :

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