GABRIEL INDIA LTD,MUMBAI vs. CIT 5, MUMBAI

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ITA 646/MUM/2015Status: DisposedITAT Mumbai20 January 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 Tribunal noted that the Assessing Officer had accepted the assessee's claims regarding doubtful debts and remuneration in the consequential order. Therefore, the appeal filed against the Section 263 order had become infructuous.

What were the facts?

The assessee filed an appeal challenging an order passed under Section 263 of the Income Tax Act. Subsequently, the Assessing Officer passed a consequential order accepting the assessee's claims, rendering the appeal infructuous.

What were the issues?

Whether the appeal against an order under Section 263 of the IT Act becomes infructuous when a subsequent order under Section 143(3) r.w.s. 263 accepts the assessee's claims.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “G”, BENCH MUMBAI

Before: SHRI SAKTIJIT DEY, JM & SHRI ASHWANI TANEJA, AM

Hearing: 20/01/2016Pronounced: 20/01/2016

O R D E R PER SAKTIJIT DEY(JM) The assessee has filed the aforesaid appeal challenging the validity of order passed u/s.263 of the Act by the Commissioner of Income Tax-5, Mumbai, for the assessment year 2010-2011.

2.

At the outset, ld. AR of the assessee Mr. Prasad Bapat submitted a letter dated 20-1-2016 stating therein that in the consequential order passed u/s.143(3) r.w.s.263 of the Act, the AO has accepted assessee’s claim with regard to provisions of doubtful debts and excess remuneration paid to Managing Director which was subject matter of proceeding u/s.263 of the Act. Ld. AR also produced a copy of assessment order passed by the AO in pursuance to direction of CIT u/s.263 of the Act. He, therefore, submitted that the appeal of the assessee having become infructuous permitted to be withdrawn.

3.

Ld. DR has no objection for withdrawal of the appeal by the assessee.

4.

We have heard the parties and perused the material on record. On perusal of the assessment order passed u/s.143(3) r.w.s263 of the Act, dated 28-12-2015, it is noticed that the AO after verification has accepted assessee’s claim with regard to provision of doubtful debts and remuneration paid to the managing director and has completed the assessment accordingly. Therefore, the present appeal of the assessee against the order passed u/s.263 of the Act has become infructuous. Accordingly, the same is dismissed as withdrawn. 5. In the result, appeal of assessee is dismissed. Order pronounced in the open court on this 20/01/2016. Sd/- Sd/- (ASHWINI TANEJA) (SAKTIJIT DEY) ऱेखा सदस्य / ACCOUNTANT MEMBER न्यानयक सदस्य / JUDICIAL MEMBER भुंफई Mumbai; ददनांक Dated 20/01/2016 प्र.कु.मभ/pkm, नन.स/ PS आदेश की प्रनिलऱपप अग्रेपषि/Copy of the Order forwarded to : अऩीराथी / The Appellant 1. प्रत्मथी / The Respondent. 2. आमकय आमुक्त(अऩीर) / The CIT(A), Mumbai. 3. आमकय आमुक्त / CIT 4. ववबागीम प्रनतननधध, आमकय अऩीरीम अधधकयण, भुंफई / DR, ITAT, Mumbai 5. गार्ा पाईर / Guard file. 6. आदेशाि सार/ BY ORDER, सत्मावऩत प्रनत //True Copy//

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