M/S.SYNTHITE INDUSTRIES (P) LTD,ERNAKULAM vs. THE DCIT, KOCHI

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ITA 38/COCH/2021Status: DisposedITAT Cochin02 March 2023AY 2016-17Bench: Shri George George K. (Judicial Member), Ms. Padmavathy S. (Accountant Member)2 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The assessee's appeal was dismissed as withdrawn. This was due to the High Court setting aside the Assessing Officer's order and directing a fresh assessment, rendering the appeal moot.

What were the facts?

The assessee filed an appeal against an order passed under Section 263 of the Income Tax Act. The Assessing Officer subsequently passed an order giving effect to the PCIT's directions, which the assessee challenged via a writ petition.

What were the issues?

Whether the appeal filed against the PCIT's order under Section 263 is maintainable when the subsequent assessment order has been set aside by the High Court.

Which sections of the Income-tax Act were involved?

Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN

For Appellant: Shri Thomson Thomas, CA
For Respondent: Smt. J.M. Jamuna Devi, Sr. DR
Hearing: 02.03.2023Pronounced: 02.03.2023

M/s. Synthite Industires P. Ltd. vs DCIT, Corporate circle 2(1) C/o. Elias George & Co., Cas CR Building, IS Press Road EGC House, HIG Avenue Kochi 682011 Ghandi Nagar, Kochi 682020 PAN – AADCS5616E (Appellant) (Respondent) Assessee by: Shri Thomson Thomas, CA Revenue by: Smt. J.M. Jamuna Devi, Sr. DR Date of hearing: 02.03.2023 Date of pronouncement: 02.03.2023 O R D E R Per: George George K., J.M. This appeal at the instance of the assessee is directed against the order of the Principal Commissioner of Income Tax, Kochi-1, dated 08-03.2021 passed under Section 263 of the Income Tax Act, 1961 (the Act). The relevant assessment year is 2016-17.

2.

During the course of hearing the learned A.R. moved an application for withdrawing the appeal stating that the Assessing Officer has already passed the order giving effect to the directions of the PCIT. The assessee had filed a writ petition before the Hon'ble High Court of Kerala against the order passed by the Assessing Officer. The Hon'ble High Court has, vide order dated 10th February, 2023 in WP(C) No. 12756 of 2022, set aside the order passed by the M/s. Synthite Industires P. Ltd. Assessing Officer with direction to redo the assessment. In view of the above facts the assessee prayed for withdrawal of the appeal.

3.

The learned D.R. did not raise any objection.

4.

In view of the above facts and considering the prayer of the assessee we dismiss the appeal filed by the assessee as withdrawn. Order pronounced in the open Court on 2nd March, 2023.

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