RASHMI SPONGE IRON AND POWER INDUSTRIES,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR

आयकरअपीलीयअिधकरण, रायपुर�यायपीठ, रायपुर IN THE INCOME TAX APPELLATE TRIBUNAL, RAIPUR BENCH, RAIPUR �ीर�वश सूद, �याियक सद�यएवं�ीअ�ण खोड़�पया, लेखा सद�य केसम� । BEFORE SHRI RAVISH SOOD, JM & SHRI ARUN KHODPIA, AM आयकर अपील सं./ITA No.98/RPR/2022 (िनधा�रण वष� / Assessment Year: 2017-18) Rashmi Sponge Iron and Power Vs Principal Commissioner of Income Industries Pvt. Ltd., Tax, 407-408, Ganpati Sadan, Raipur-1, Samta Colony, Raipur Raipur PAN No. : AAACJ2311G (अपीलाथ� /Appellant) .. (��यथ� / Respondent) िनधा�रतीक�ओरसे /Assessee by : Sh. Rajesh Kumar Chawda, CA राज�वक�ओरसे /Revenue by : Sh. Simran Bhullar, CIT (DR) सुनवाईक�तार�ख/ Date of Hearing : 20.07.2023 घोषणाक�तार�ख/Date of Pronouncement : 20.07.2023 आदेश / O R D E R Per Arun Khodpia, AM : The present appeal by the assessee is directed against the order of the Principal Commissioner of Income Tax (PCIT), Raipur-1, dated 23.03.2022 for the assessment year 2017-18. 2. At the outset, learned counsel appearing for the assessee submitted that the assessee wants to withdraw the present appeal. He has also filed an application dated 18.07.2023 for withdrawal of the appeal, which is extracted as under: “It is most humbly requested before this Hon’ble bench to kindly allow us to withdraw the appeal on following facts:- 1) The proceedings u/s 263 of the IT Act, 1961 was started on 09.08.2021 relating to AY 2017-18 during the pendency of re- assessment proceeding already started on 09.06.2021 u/s 148 of the It Act, 1961 and accordingly was objection raised on 08.09.2021 which was not considered by Ld. Pr. CIT, Raipur and alongwith request of personal hearing made on 18.02.2022 before deciding the case and passed the order u/s 263 of the IT Act, 1961 dated 23.03.2023. (Copies attached)

2 ITA No.98/RPR/2022 2) The fact that during the pendency of proceedings u/s 148, a submission was also made to Jurisdictional Assessing Officer (JAO) on 07.06.2022 about the order of sec. 263 made by Pr. CIT, Raipur which was considered by JAO in his order made u/s 148A(d) of the IT Act, 1961 dated 15.07.2022 and reissue of notice u/s 148 of the IT Act, 1961 but during the whole proceeding the Ld. AO did not cover the issue relating to matter as per order of Sec. 263 of the IT Act, 1961 dt. 23.03.2022 in its any notice of Sec. 142(1) and SCN also and passed the order u/s 147 w.r.t. Sec. 144B of the IT Act. Dt. 08.05.2023. (Copies attached) 3) As per the provision of Sec. 153(3) of the IT Act, 1961 which provides as under :- “Section 153 : Time limit for completion of assessment, reassessment and re-computation. (3) Notwithstanding anything contained in sub-sections (1) and (2), an order of fresh assessment in pursuance of an order under section 254 or section or section 264, setting aside or cancelling an assessment, may be made at any time before the expiry of nine months from the end of the financial year in which the order under section 254 is received by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner or, as the case may be, the order under section 263 or section 264 is passed by the Principal Commissioner or Commissioner: Provided that where the order under section 254 is received by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner or, as the case may be, the order under section 263 or section is passed by the Principal Commissioner or Commissioner on or after the 1st day of April, 2019, the provisions of this sub-section shall have effect, as if for the words "nine months”, the words "twelve months” had been substituted.” Accordingly, the case is now time barred u/s 153(3) of the IT Act, 1961 by limitation as the period of twelve months has elapsed on 31.03.2023 i.e. from the end of the financial year 2021-22 in which the order under section 263 is passed. In view of above we humbly request your honour to kindly allow us to withdraw the appeal and oblige as the proceedings relating to case is time barred.” 3. When the learned DR was asked to submit his contention regarding the request of assessee for withdrawal of the appeal, he did not object to the same.

3 ITA No.98/RPR/2022 4. We have heard both the parties and perused the application for withdrawal of the appeal. In view of the aforesaid request of the assessee, the appeal is dismissed as withdrawn. 5. In the result, the appeal of the assessee is dismissed Order pronounced in the open court on 20/07/2023. Sd/- Sd/- (RAVISH SOOD) (ARUN KHODPIA) �याियकसद�य / JUDICIAL MEMBER लेखासद�य / ACCOUNTANT MEMBER रायपुर/Raipur; �दनांक Dated 20/07/2023 RK/-, Sr. P.S.(on tour) आदेशक��ितिल�पअ�े�षत/Copy of the Order forwarded to : 1. अपीलाथ� / The Appellant- 2. ��यथ� / The Respondent- आयकरआयु�(अपील) / The CIT(A), 3. आयकरआयु� / CIT 4. 5. िवभागीय�ितिनिध, आयकरअपीलीयअिधकरण, रायपुर/ DR, ITAT, Raipur आदेशानुसार/ BY ORDER, 6. गाड�फाईल / Guard file. स�या�पत�ित //True Copy// (Assistant Registrar) आयकरअपीलीयअिधकरण, रायपुर/ITAT, Raipur