VARIETY MERCANTILE PVT. LTD.,KOLKATA vs. PCIT, -2, KOLKATA, KOLKATA

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ITA 654/KOL/2015Status: DisposedITAT Kolkata25 January 2017AY 2010-20112 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's counsel requested to withdraw the appeal as a subsequent order had been passed by the AO in consequence to the revision order, and a further appeal was filed against that order. The Tribunal permitted the withdrawal.

What were the facts?

The assessee filed an appeal against a revision order passed by the Principal Commissioner of Income-tax under Section 263. The original assessment was framed under Section 143(3)/147.

What were the issues?

The primary issue was the assessee's request to withdraw the appeal due to subsequent developments in the assessment proceedings.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “D” BENCH: KOLKATA

Before: Shri N. V. Vasudevan, JM & Shri M. Balaganesh, AM]

Hearing: 25.01.2017Pronounced: 25.01.2017

ORDER

Per Shri M. Balaganesh, AM:

1.

This appeal by assessee is arising out of revision order of Pr. CIT, Kolkata-2, Kolkata passed u/s. 263 of the Act vide No. Pr.CIT-2DC(Hq)-2/Kol/263/2014-15/5978- 81 dated 23.03.2015. Assessment was framed by ITO, Ward-5(1), Kolkata u/s. 143(3)/147 of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) for Assessment Year 2010-11 vide his order dated 17.01.2013.

2.

At the time of hearing Ld. Counsel for the assessee submitted that he has instructions to withdraw the appeal since the AO has already passed an order in consequence to the order passed by Pr. CIT u/s. 263 of the Act and the assessee company has filed an appeal before the Ld. CIT(A) against the said order. Ld. Sr. DR has not raised any objection to this prayer for withdrawal. Hence, we permit the withdrawal and dismiss this appeal of assessee as withdrawn. 3. In the result, appeal of assessee is dismissed as withdrawn. 4. Order is pronounced in the open court. Sd/- Sd/- (N. V. Vasudevan) (M. Balaganesh) Judicial Member Accountant Member Dated : 25th January, 2017 Jd.(Sr.P.S.)

Copy of the order forwarded to:

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