M/S PUNJAB SMALL INDUSTRIES AND EXPORTS CORPORATION LTD.,CHANDIGARH vs. ACIT, CIRCLE (1), CHANDIGARH

PDF · subscribers
ITA 315/CHANDI/2023Status: DisposedITAT Chandigarh25 April 2024AY 2018-19Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (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 assessee requested to withdraw the appeal due to a subsequent assessment order accepting the originally assessed income. The Revenue did not object to the withdrawal.

What were the facts?

The assessee filed an appeal against an order of the PCIT. During the hearing, the assessee moved an application to withdraw the appeal.

What were the issues?

Whether the assessee should be allowed to withdraw the appeal after a subsequent assessment order was passed.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 263

AI-generated summary — verify with the full judgment below

Order PER PARESH M. JOSHI, J.M. : This is an appeal by the Assessee against the order of the Ld. PCIT, Chandigarh-1 dt. 24/03/2023. 2. During the course of hearing the Ld. Counsel for the Assessee moved an application to withdraw the appeal, contents of which reads as under:

1.

Sub: Request tor withdrawal of appeal in the eases of M/s Punjab Small Industries and Export Corp. Ltd. I.T.A. No.: 3I5/Chandi-2023. A.Y. : 2018-19 Dated of hearing: 08.04.2024 Kindly refer to the above-mentioned appeal which is fixed for hearing before the Hon'ble Bench for 08.04.2024. It is submitted that in the assessment order dated 27.03.2024. under Section 143(3) read with Section 263 of the Income Tax Act, 1961 has been passed by the Ld. DCIT/ACIT. Circle 1(1), Chandigarh, the Id. Assessing Officer has accepted the originally assessed income under order dated 26.03.2021, under Section 143(3) read with Section I43(3A)&143(3B), passed by the Ld. Additional Joint Deputy Asstt. Commissioner of Income Tax, National e-Assessment Centre, Delhi in the ease of the" appellant. The copy assessment order dated 27.03.2024, under Section 143(3) read with Section 263 passed by the Ed. DCIT/ACIT, Circle 1(1), Chandigarh is enclosed herewith.

In view of the above facts, it is humbly prayed that undersigned may kindly be allowed to withdraw the appeal.

3.

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 DR did not object if the appeal of the assessee is dismissed as withdrawn.

4.

We have heard the rival contention and perused the material available on the record. We find that the assessee requested to withdraw his appeal for which he has submitted the withdrawal application which is placed on record. After considering the request so made by the assessee and hearing the Ld. DR the present appeal is dismissed as withdrawn.

5.

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

More judgments on Section 263

All 13,616 judgments and leading authorities on Section 263 →

Recent GST High Court judgments

Search GST case law →