GUJARAT INDUSTRIAL INVESTMENT CORPORATION LTD.,GANDHINAGAR vs. THE PR. CIT-3, AHMEDABAD

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ITA 121/AHD/2021Status: DisposedITAT Ahmedabad31 January 2024AY 2016-17Bench: Smt. Annapurna Gupta (Accountant Member), Shri T.R. Senthil Kumar (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 the assessee's request to withdraw the appeal as the issue had been decided in their favor. Consequently, the appeal was dismissed.

What were the facts?

The assessee filed an appeal against a revision order. The assessee later received an order giving effect to the revision, which decided the matter in their favor.

What were the issues?

Whether the appeal filed by the assessee is maintainable when the underlying issue has been resolved in their favor through a subsequent order.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AHMEDABAD “B” BENCH

Before: Smt. Annapurna Gupta & Shri T.R. Senthil Kumar

Gujarat Industrial The Pr.CIT-3, Investment Corporation Ahmedabad Limited. Vs sixth Floor 11 And 12 (Respondent) Udyog Bhavan, Gh Road Gh-IV Circle, Gandhinagar, Gujarat382011 PAN: AAACG5304Q (Appellant) Assessee Represented: None (Application for withdrawal of appeal) Revenue Represented: Shri Sudhendu Das, CIT-DR Date of hearing : 31-01-2024 Date of pronouncement : 31-01-2024 आदेश/ORDER PER : T.R. SENTHIL KUMAR, JUDICIAL MEMBER:-

This is an appeal filed by the Assessee as against the Revision order dated 29.03.2021 passed by the Principal Commissioner of Income Tax-3, Ahmedabad as against the assessment order passed under section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) relating to the Assessment Year (A.Y) 2016-17.

Page No 2 Gujarat Industrial Investment Corporation Ltd. vs. Pr. CIT

2.

At the outset, Ld. Counsel for the assessee vide its letter dated 25.08.2023 stated that the assessee received giving effect order u/s. 143(3) r.w.s. 263 dated 28.03.2022 deciding the matter in favour of the assessee. Therefore the assessee is hereby withdraw the appeal.

3.

Recording the above letter, the appeal filed by the assessee is hereby dismissed.

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