AJAR AMAR STEELS 1725 10G, 3-A, FOCAL POINT LUDHIANA 141010,PUNJAB vs. SH. TARUN SHARDA THE DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-3, LUDHIANA , PUNJAB

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ITA 399/CHANDI/2024Status: DisposedITAT Chandigarh19 September 2024AY 2017-2018Bench: SHRI A.D.JAIN (Vice President), SHRI KRINWANT SAHAY (Accountant Member)2 pages
AI SummaryDismissed

What did the Tribunal hold?

The Income Tax Appellate Tribunal (ITAT) allowed the assessee's application to withdraw the appeal. The tribunal dismissed the appeal as withdrawn, as there was no objection from the Revenue.

What were the facts?

The assessee filed an appeal before the ITAT. During the preparation for the hearing, the assessee discovered that the PCIT had passed an order under Section 263, directing the Assessing Officer to pass a consequential order. This new information prompted the assessee to withdraw the appeal.

What were the issues?

Whether an appeal filed before the ITAT can be withdrawn by the assessee due to subsequent discovery of a PCIT's order under Section 263 that necessitates consequential action by the AO.

Which sections of the Income-tax Act were involved?

Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, CHANDIGARH

Before: SHRI A.D.JAIN & SHRI KRINWANT SAHAY

For Appellant: Shri Kaushal Chopra, CA for Shri Sudhir Sehgal, Advocate
For Respondent: Shri Vivek Vardhan, JCIT, Sr.DR
Hearing: 12.09.2024Pronounced: 19.09.2024

आदेश/ORDER

PER A.D.JAIN, VICE PRESIDENT

1.

This is assessee's appeal for assessment year 2018-19 against the order dated 16.02.2024 passed by the Ld. CIT(A)-5, Ludhiana.

2.

The assessee has filed an Application dated 06.09.2024 seeking permission to withdraw the appeal. The contents of the withdrawal application are reproduced hereunder:

“The date of hearing in the above said case has been fixed for 12.09.2024 before Bench "A" of the Tribunal.

ITA 399/CHD/2024 A.Y.2017-18 2 It is submitted that, the assessee would like to withdraw the appeal since on going through the order of the CIT(A), It transpired that the Ld. PCIT in the order u/s 263 has given directions to the Assessing Officer to pass consequential order in the light of the observation given bin the order, u/s 263, dated 30.03.2021. It is submitted that this came to the knowledge of the counsel of assessee only while preparing the appeal before the Hon'ble Bench in above ITA Number, which has been fixed for 1 2.09.2024. We, therefore, wish to withdraw the above appeal as stated above in view of the appeal being filed against the order u/s 263 vide order, dated 31.03.2021.”

3.

The ld. DR has posed no objection to the request of the assessee.

4.

In view of the above facts and circumstances, the appeal of the assessee is dismissed as withdrawn.

5.

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

Order pronounced on 19.09.2024.

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