M/S USHA YARNS LTD.,PATIALA vs. ACIT, CIRCLE, PATIALA

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ITA 1352/CHANDI/2017Status: DisposedITAT Chandigarh30 August 2024AY 2014-15Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant 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 fresh assessment order rendered the appeal against the Section 263 order infructuous. Therefore, the assessee's request to withdraw the appeal was allowed.

What were the facts?

The assessee filed an appeal against an order passed under Section 263 of the Income Tax Act. Subsequently, a fresh assessment order was passed in favor of the assessee.

What were the issues?

Whether the appeal against a Section 263 order becomes infructuous when a subsequent favorable assessment order is passed.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3)

AI-generated summary — verify with the full judgment below

Order PER VIKRAM SINGH YADAV, A.M. : This is an appeal by the Assessee against the order of the Ld. Pr. CIT, Patiala passed u/s 263 dt. 16/08/2017 pertaining to Assessment Year 2014-15. 2. During the course of hearing, the Ld. Counsel for the Assessee moved an application to withdraw the appeal which reads as under:

1.

Sub: Request for withdrawing the appeal Hon’ble Members The above appeal is against the review order passed u/s 263 by Ld. Pr. CIT, Patiala wherein the assessment order dated 30/08/2016 was annulled and AO was directed to make a fresh assessment on the issues discussed in the order u/s 263 passed by Ld. Pr. CIT. As the assessment u/s 143(3) read with section 263, has been passed by the Ld. AO in favour of assessee vide order dt. 15/12/2018, this appeal against the order u/s 263 becomes infructuous. A humble prayer is made to kindly allow us to withdraw the appeal. Counsel for Appellant Vibhor Garg, FCA

3.

Ld. DR did not object if the appeal of the assessee is dismissed as withdrawn.

4.

In view of the order passed u/s 143(3) r/w 263 of the Act dt. 15/12/2018 and request so made on behalf of the assessee, the appeal of the assessee is dismissed as withdrawn.

5.

In the result, appeal of the Assessee is dismissed.

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