SREI EQUIPMENT FINANCE LTD.,KOLKATA vs. THE PCIT, KOLKATA-4, KOLKATA

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ITA 812/KOL/2016Status: DisposedITAT Kolkata02 November 2017AY 2011-20122 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 assessee requested to withdraw the appeal as the issue raised in proceedings u/s. 263 had been verified by the Assessing Officer with no further disallowance. The Tribunal permitted the withdrawal.

What were the facts?

The assessee filed an appeal against an order of the Pr. CIT for AY 2011-12. The assessee later filed an application to withdraw the appeal.

What were the issues?

Whether the assessee can withdraw an appeal filed before the Tribunal. The primary issue was the assessee's request for withdrawal due to resolution of the underlying issue.

Which sections of the Income-tax Act were involved?

Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “D” BENCH: KOLKATA

Before: Shri Waseem Ahmed & Shri S.S. Viswanethra Ravi

This appeal by Assessee is arising out of order dated 22-03- 2016 of Pr. CIT, Kolkata for the A.Y 2011-12.

2.

At the outset, the ld.AR of the assessee vide an application (dt: 2-11-17 copy of the same is on record ) submitted for withdrawal of appeal by stating as under: “Re: SREI Equipment Finance Limited Assessment Year 2011-12 Assessee Appeal No. : 812/Kol/2016 Appeal fixed for hearing on 02-11-2017 1.0 This has reference to the captioned appeal fixed for hearing to day i.e. 02-11-2017. In this connection, it is humbly submitted that the issue raised vide proceedings u/s. 263 has since been verified by the Assessing Officer in proceedings u/s. 263/143(3) and no further disallowance has been made by the revenue. 2.0 Under the circumstances, we on behalf of the appellant request you to treat the Appeal No. 812/Kol/2016 as withdrawn. We deeply regret for the inconvenience caused to Your Honours. Yours sincerely For D.B Desai & Associates 1 ITA No.812/Kol/16

Sd/- (Nidhi Lahoti) Authorized Representative

3.

On the other hand, the ld.DR has not objected to the above submission of assessee in withdrawing the appeal filed by it.

4.

In view of above, we permit to withdraw the appeal filed by the assessee.

5.

In the result, the appeal of the assessee is dismissed. Order pronounced in the open court on 02-11-2017

Sd/- Sd/- Waseem Ahmed S.S. Viswanethra Ravi Accountant Member Judicial Member

Dated : 02-11-2017 PP(Sr.P.S.)

Copy of the order forwarded to:

1.

Appellant –M/s. Srei Equipment Finance Ltd (Formerly known as SREI Equipment Finance Pvt. Limited) 86C, Viswkarma, Topsia Road, (South), Kolkata-46. 2 Respondent – The Pr. Commissioner of Income-4, Aaykar Bhawan,P-7 Chowringhee Square, Kolkata. 3. The CIT(A), Kolkata 4. CIT , Kolkata 5. DR, Kolkata Benches, Kolkata

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