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Facts
The assessee filed an appeal against the order of the Pr.CIT dated 15/09/2023 for AY 2016-17. At the time of hearing, the assessee requested to withdraw the appeal with liberty to revive it if the CIT(A) order is overturned. The assessee's counsel submitted that the CIT(A) had allowed the appeal against the order u/s 143(3)/263 of the Act.
Held
The assessee sought to withdraw the appeal, stating that the CIT(A) had already allowed their claim for deduction u/s 80P(2)(a)(i) of the Act, making the present appeal infructuous. The assessee was granted permission to withdraw the appeal with liberty to revive it in case the CIT(A)'s order is reversed.
Key Issues
Whether the appeal filed against the order u/s 263 of the Act is to be dismissed as withdrawn, with liberty to revive.
Sections Cited
263, 143(3), 80P(2)(a)(i)
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Income Tax Appellate Tribunal, “C” BENCH : BANGALORE
Before: SMT. BEENA PILLAI & SHRI LAXMI PRASAD SAHU
O R D E R Per Laxmi Prasad Sahu, Accountant Member :-
This is an appeal filed by the assessee against the order passed by the Pr.CIT, Panaji dated 15/09/2023 for the assessment year 2016-17.
At the time of hearing, it is seen from the record that the assessee vide letter dated 04th April, 2024 has Page 2 of 6 requested for the withdrawal of the appeal with the liberty to revive this appeal to agitate validity of the sec. 263 of the Act in the event, if the CIT(A) order is overturned or reversed by this Tribunal or any other statutory appellate forum. The letter dated 04/04/024 is reproduced below for ready reference:-
At the outset of hearing, the ld.AR of the assessee submitted that the CIT(A) has allowed the appeal of the assessee filed against order u/s 143(3)/263 of the Act. Hence, the appeal filed before the ITAT against the order u/s 263 of the Act dated 15/09/2023 becomes
Page 6 of 6 infructuous. In view of the same, the assessee’s appeal is dismissed as withdrawn in above terms.
In the result, the appeal of the assessee is dismissed as withdrawn.