M/S. K.G. FINVEST PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

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ITA 998/DEL/2014Status: DisposedITAT Delhi18 April 2017AY 2003-042 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 assessee to withdraw the appeal. The appeal was dismissed as not pressed.

What were the facts?

The assessee's appeal for assessment year 2003-04 was filed before the ITAT. The assessee's counsel stated that the legal issue was academic and they did not wish to press the appeal.

What were the issues?

The primary issue was whether the appeal should be pressed by the assessee, which was rendered academic.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCHES : D : NEW DELHI

Before: SHRI R.S. SYAL & MS SUCHITRA KAMBLE

For Appellant: Shri Salil Kapoor &, Ms Ananya Kapoor,, Advocates, Shri Naveen Chandra, CIT, DR &, Shri U.C. Dubey, Sr. DR
Hearing: 17.04.2017Pronounced: 18.04.2017

PER R.S. SYAL, VP: This appeal by the assessee arises out of the order passed by the CIT(A) on 30.12.2013 in relation to the assessment year 2003-04.

2.

The ld. counsel for the assessee stated, at the outset, that the legal issue raised in this appeal is academic only and as such he has the instruction not to press the instant appeal. He, however, reserved his right to argue such an issue in succeeding years. No objection was taken by the ld. DR. Under these circumstances, we permit the assessee to withdraw this appeal.

3.

In the result, the appeal is dismissed as not pressed.

Order Pronounced in the open Court on 18.04.2017.

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