KASPER PIETER TIDEMAN,PUNE vs. INCOME TAX OFFICER, WARD-7(1), PUNE, PUNE

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ITA 80/PUN/2024Status: DisposedITAT Pune23 July 2024AY 2020-21Bench: SHRI INTURI RAMA RAO (Accountant Member), MS. ASTHA CHANDRA (Judicial Member)2 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 no longer felt aggrieved due to the favorable order from the CIT(A). The Department had no objection to the withdrawal.

What were the facts?

The assessee filed an appeal against an order for AY 2020-21. Subsequently, the assessee filed an application to withdraw the appeal as a favorable order was received from the CIT(A) on the same issue.

What were the issues?

The primary issue was the allowability of foreign tax credit in case of belated filing of Form 67. The appeal was withdrawn due to a favorable subsequent order.

Which sections of the Income-tax Act were involved?

Section 154,Section 143(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” BENCH, PUNE

Before: SHRI INTURI RAMA RAO & MS. ASTHA CHANDRA

For Appellant: Shri Pratik Sandbhor
For Respondent: Shri Nitin Patil

आदेश / ORDER

PER ASTHA CHANDRA, JM :

1.

The appeal filed by the assessee is directed against the order dated 21.11.2023 of the Ld. Commissioner of Income Tax (Appeals), Patna [“CIT(A)”] pertaining to Assessment Year (“AY”) 2020-21.

2.

The assessee has filed an application dated 12.07.2024 to withdraw the appeal. The relevant extract of the application reads as under : “The appeal of the appellant against the Order u/s 154 for A.Y. 2020-21 on the very issue of allowability of foreign tax credit in case of belated filing of Form 67 was pending before the ld. CIT(A). It is brought to the attention of the Hon’ble Bench that the said appeal has been heard by the ld. CIT(A) and after considering the judicial decisions of various ITAT, the appeal has been decided in favour of the appellant vide order dated 10/07/2024. Copy of the said order of CIT(A) is enclosed herewith. Therefore the disallowance of foreign tax credit to the appellant has been deleted and the appellant has been granted the foreign tax credit for A.Y. 2020-21 in the appeal against 154 Order. In light of the above development the appellant is no more aggrieved for A.Y. 2020-21 and is therefore willing to withdraw the appeal in 143(1) for A.Y. 2020-21.”

3.

Shri Nitin Patil, representing the Department submitted that the Department has no objection in case the assessee wishes to withdraw the appeal.

4.

In view of the above request of the assessee, the appeal is hereby dismissed as withdrawn.

5.

In the result, the appeal of the assessee in is dismissed as withdrawn.

Order pronounced in the open court on 23rd July, 2024.

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