PENNZOIL QUAKER STATE INDIA LTD,MUMBAI vs. CIT 1, MUMBAI

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ITA 2953/MUM/2015Status: DisposedITAT Mumbai12 April 2017AY 2008-092 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 there was no tax impact. The Tribunal permitted the withdrawal of the appeal.

What were the facts?

The assessee filed an appeal against an order passed by the Commissioner of Income Tax under Section 263. Subsequently, the Assessing Officer passed an order giving effect to the CIT's directions, resulting in no tax impact for the assessment year.

What were the issues?

Whether an appeal can be withdrawn when the underlying issue has become infructuous due to subsequent actions.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” BENCH, MUMBAI

For Appellant: Shri Dinesh Patil, AR
For Respondent: Shri B. Satyanarayanan Raju, DR

Pennzoil Quaker State India Commissioner of Income Tax-1 3rd Floor, R. No. 387 Ayakar Ltd. Trent House, 1st Floor, G Block Vs. Bhavan, M.K. RD, Mumbai-20 Plot No. C-60 BKC Bandra East, Mumbai-400 051 Appellant .. Respondent PAN No. AAACP7143C Assessee by .. Shri Dinesh Patil, AR Revenue by .. Shri B. Satyanarayanan Raju, DR Date of hearing .. 12-04-2017 Date of pronouncement .. 12-04-2017 O R D E R PER MAHAVIR SINGH, JM:

This appeal by the assessee is arising out of the order of CIT-1, Mumbai, in appeal No. Nil dated 11-03-2015. The Assessment was framed by ACIT Circle-1(2), Mumbai for the A.Y. 2008-09 vide order dated 22-10-2012 u/s 143(3) read with section 144C(13) of the Income Tax Act, 1961 (hereinafter ‘the Act’).

2.

At the outset, the learned Counsel for the assessee field a letter dated 06- 04-2017, wherein he has requested for withdrawal of the appeal and the content of the letter reads as under: -

“We refer to captioned appeal, hearing for which is scheduled on 12 April 2017.

In this regard, the Appellant submit that the captioned appeal was filed on 15 May 2015 against the Order dated 11 March 2015 passed u/s. 263 of the Income-tax Act, 1961 ('the Act') by the Hon'ble Commissioner of Income- tax -1, Mumbai ('CIT') Post filing the captioned appeal, to give effect to the directions of the Hon'ble CIT, the Pennzoil Quaker State India Ltd. AY:08-09 learned Assessing Officer ('AU') passed an Order u/s. 143(3) read with section 263. Consequent to the order passed by the learned AO, there is no tax impact in the captioned AY. In view of this, the Appellant request your Honor to kindly allow to withdraw the captioned appeal and oblige.”

3.

On query from the Bench, learned DR has not objected for withdrawal of the appeal. Accordingly, we permit the withdrawal and hence the appeal is dismissed as withdrawn.

4.

In the result, the appeal of assessee is dismissed. Order pronounced in the open court on 12-04-2017.

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