AKSHATA COTTON INDUSTRIES PVT.LTD,YAVATMAL vs. PRINCIPAL COMMISSIONER OF INCOME TAX -2, NAGPUR

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ITA 58/NAG/2021Status: DisposedITAT Nagpur22 November 2023AY 2016-17Bench: SHRI S.S.GODARA (Judicial Member), DR. DIPAK P. RIPOTE (Accountant Member)3 pages
AI SummaryDismissed

What did the Tribunal hold?

The assessee requested to withdraw the appeal as the issue was no longer in dispute. The Tribunal allowed the assessee to withdraw the appeal.

What were the facts?

The assessee filed an appeal against a revision order passed by the Principal CIT under section 263. The Principal CIT had set aside the original assessment order, and a consequential order was passed by the Assessing Officer accepting the returned income.

What were the issues?

Whether the appeal filed by the assessee against the revision order is maintainable when the assessee wishes to withdraw it due to resolution of the dispute.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, NAGPUR BENCH : : NAGPUR

Before: SHRI S.S.GODARA & DR. DIPAK P. RIPOTE

For Appellant: Shri Mahavir Atal – CA
For Respondent: Shri Kailash G. Kanojiya – Sr.DR
Hearing: 22/09/2023Pronounced: 22/11/2023

आदेश/ ORDER

PER DR. DIPAK P. RIPOTE, AM:

1.

This is an appeal filed by assessee against the order of ld.Pr.CIT, Nagpur-2 under section 263 of the Income Tax Act, 1961 for A.Y.2016-17.

2.

At the outset, the ld.Authorised Representative(ld.AR) of the assessee invited our attention to letter dated 20.09.2023 submitted by assessee requesting for withdrawal of the appeal.

Akshata Cotton Industries Pvt. Ltd., [A]

3.

The ld.DR had no objection for withdrawal of appeal by assessee.

Findings & Analysis : 4. We have heard both the parties and perused the records. The letter dated 20.09.2023 is reproduced hereasunder : “Respected Sir With all humbleness and if your kindness permit, we wish to withdraw this appeal. The present appeal was filed against the revision order passed by the learned PCIT under section 263. Vide 263, order, the learned PCIT has set aside the original assessment order passed by the Assessing Officer. The Assessing Officer as per the directions of the PCIT, passed a consequential order under section 143(3) r.w.s 263. The consequential assessment order was passed accepting returned income. As the issue is no more in dispute, the appellate crave leave from your kindness to withdraw this apppe; For this act of kindness, assessee shall always remain obliged.”

5.

In view of the above request made by the assessee, we allow the assessee to withdraw the appeal, accordingly, appeal of the assessee is dismissed as withdrawn.

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