ZIM LABORATORIES LIMITED,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -2(1), NAGPUR

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ITA 119/NAG/2018Status: DisposedITAT Nagpur22 September 2023AY 2014-2015Bench: SHRI S.S.GODARA (Judicial Member), DR. DIPAK P. RIPOTE (Accountant Member)3 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 considered the assessee's request to not press the appeal. The grounds of appeal raised by the assessee were dismissed as not pressed.

What were the facts?

The assessee filed an appeal before the ITAT against the CIT(A)'s order. The assessee subsequently filed an application to withdraw the appeal due to the small and insignificant amount of income tax in dispute.

What were the issues?

Whether the assessee can withdraw an appeal due to insignificant tax amount. The primary issue was the assessee's request to withdraw the appeal.

Which sections of the Income-tax Act were involved?

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 Rajesh Loya - CA
For Respondent: Shri Kailash Kanojiya – DR
Hearing: 18/09/2023Pronounced: 22/09/2023

ORDER

PER DR. DIPAK P. RIPOTE, AM:

1.

This is an appeal filed by the Assessee against the order of ld.Commissioner of Income Tax(Appeal)-3, Nagpur 28.03.2018 emanating from assessment order under section 143(3) of the I.T.Act, dated 31.03.2016.

2.

At the outset of hearing, ld.AR for the assessee submitted application for not pressing the appeal as under : Zim Laboratories Limited [A] “The appellant had preferred appeal before the Hon'ble ITAT contesting the order of the learned CIT(A) for the above mentioned asstt. year. In view of the Income Tax amount involved in dispute being very small and insignificant, therefore the appellant do not wish to press the appeal and the Ground contained therein before your honour. Hence, this petition is being made for the favour of your kind consideration.”

3.

On the other hand, the ld.Departmental Representative(ld.DR) of the Revenue did not object to the contention of the assessee and has no objection if the appeal of assessee is dismissed as not pressed.

4.

In view of the above, we consider the request of the as not pressing the appeal. Accordingly, grounds of appeal raised by the assessee are dismissed as not pressed.

5.

In the result, appeal of the assessee is dismissed as not pressed.

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