DHADDA DIAMONDS P.LTD,MUMBAI vs. ITO 5(1)(3), MUMBAI

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ITA 4905/MUM/2015Status: DisposedITAT Mumbai23 March 2016AY 2010-112 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, having no further interest in pursuing the appeals due to no additions being made, requested to withdraw them. The Tribunal allowed the withdrawal.

What were the facts?

The assessee filed appeals against the CIT's order invoking Section 263. During the set-aside proceedings, the Assessing Officer made no additions to the income.

What were the issues?

Whether the assessee's appeals against the CIT's Section 263 order should be dismissed as withdrawn when no additions were made in the subsequent proceedings.

Which sections of the Income-tax Act were involved?

Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “H”, MUMBAI

Before: SHRI SANJAY GARG & SHRI RAJESH KUMAR

For Respondent: Shri Rahul Raman (CIT-DR)
Hearing: 23/03/2016Pronounced: 23/03/2016

The above titled appeals have been preferred by the assessee against the order of the Commissioner of Income Tax-5, Mumbai (in short ‘CIT’) dt. 10.7.2014.

2.

The assessee through the grounds of appeal has agitated the action of the Ld. CIT in setting aside the assessment order invoking the provisions of Sec. 263 of the Income Tax Act, 1961. The assessee has moved an application dt. 21.3.2016 stating that in set aside proceedings, the Assessing Officer has not made any addition. In view

2 Dhadda Diamonds Pvt. Ltd. & 4906/Mum/2015 of this, the assessee is no more interested in further pursuing these appeals. It has, therefore, been prayed that the above appeals be dismissed as withdrawn. The ld. Departmental Representative has also stated that he has no objection in the withdrawal of the appeals by the assessee. In view of this, the above titled appeals are hereby dismissed as withdrawn.

3.

In the result, the appeals of the assessee are dismissed as withdrawn.

Order pronounced in the open court on 23/03/2016.

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