BMM ISPAT LIMITED,HOSPET vs. CIT, BANGALORE

PDF · subscribers
ITA 641/BANG/2015Status: DisposedITAT Bangalore06 May 2016AY 2007-082 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 noted that the assessee had no further grievance after the subsequent assessment order. The assessee agreed to withdraw the appeal, and the Revenue had no objection.

What were the facts?

The assessee filed an appeal against an order passed by the Principal Commissioner of Income-tax under Section 263 of the Income-tax Act. During the hearing, the assessee stated that the subsequent assessment order framed by the AO was in their favor.

What were the issues?

Whether the appeal filed against the CIT's order under Section 263 is maintainable when the subsequent assessment has been decided in favor of the assessee.

Which sections of the Income-tax Act were involved?

Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” BENCH : BANGALORE

Before: SHRI SUNIL KUMAR YADAV & SHRI INTURI RAMA RAO

For Appellant: Shri K.R. Pradeep, CA
For Respondent: Shri Sanjay Kumar, CIT-III(DR)
Hearing: 02.05.2016Pronounced: 06.05.2016

Per Sunil Kumar Yadav, Judicial Member

1.

This appeal is preferred by the assessee against the order of Principal Commissioner of Income-tax (Central), Bangalore [hereinafter referred to as “the CIT”] passed u/s. 263 of the Income-tax Act, 1961 [hereinafter referred to as “the Act”].

2.

During the course of hearing, the ld. counsel for the assessee has made a statement that consequent to CIT’s order, assessment was framed and AO has adjudicated the issue in favour of assessee, therefore no grievance is left out against the order of CIT as well as the AO. In light of these facts, the assessee did not want to advance his argument in the present appeal. Rather, he has also agreed for withdrawal of the appeal, to which the Revenue has no objection. Accordingly, the appeal of the assessee stands dismissed as withdrawn.

Pronounced in the open court on this 6th day of May, 2016.

More judgments on Section 263

All 13,616 judgments and leading authorities on Section 263 →

Recent GST High Court judgments

Search GST case law →