RAHUL RAJENDRA JAIN,AMRAVATI vs. PR COMMISSIONER OF INCOME TAX -1, NAGPUR

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ITA 11/NAG/2019Status: DisposedITAT Nagpur28 August 2023AY 2014-15Bench: SHRI R.S. SYAL, HON. (Vice President), SHRI PARTHA SARATHI CHAUDHURY, HON. (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 Tribunal allowed the assessee to withdraw the appeal. It noted that the time limit for the AO to pass a consequential assessment order under section 153(3) had expired, rendering the appeal infructuous.

What were the facts?

The assessee filed an appeal against an order passed by the Principal Commissioner of Income Tax (PCIT) under section 263. The assessee later sought to withdraw the appeal as the time limit for the Assessing Officer (AO) to pass a consequential assessment order had expired.

What were the issues?

Whether an appeal can be withdrawn when the consequential assessment order, which was the basis of the appeal, could no longer be passed due to time bar.

Which sections of the Income-tax Act were involved?

Section 263,Section 153(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, NAGPUR BENCH :: NAGPUR

For Appellant: Shri Ratan Sharma, CA
For Respondent: Shri Kailash Kanojiya, Sr.DR
Hearing: 23/08/2023Pronounced: 28/08/2023

(A.Y. 2014-15) Rahul Rajendra Jain, vs Pr.CIT-1, Nagpur. Opp. Bhansali School, Kandli Road, Vrundawan Nagar, Paratwada, Dist. Amravati. PAN: AHAPJ 8041 K Appellant Respondent Assessee by : Shri Ratan Sharma, CA Revenue by : Shri Kailash Kanojiya, Sr.DR Date of hearing : 23/08/2023 Date of pronouncement : 28/08/2023 O R D E R Per PARTHA SARATHI CHAUDHURY, JM:

This appeal preferred by the assessee emanates from the order of Principal Commissioner of Income Tax-2, Nagpur (for short, ‘PCIT ’), dated 26.12.2018 for A.Y. 2014-15 as per the grounds of appeal on record.

2. Ld.AR of the assessee, by filing application dated 01/12/2022, seeks withdrawal of the appeal stating that 263 order has been passed by the PCIT on 26/12/2018 and the consequential assessment order by the AO has to be passed at any time before the expiry of nine months as per sec. 153(3), and the said time limit, has got expired by 31/12/2019. Therefore, he prayed for withdrawal of the appeal with a Rahul Rajendra Jain caveat to reinstate the same, if AO goes to pass the assessment in pursuance to the order u/sec. 263 of the Act.

3. Ld.DR has no objection to the prayer for withdrawal of the appeal.

4. We observe that as per sec. 153(3), the time limit of 09 months to pass consequential assessment order by the AO in pursuance to the order u/sec. 263, has got time barred by 31/12/2019. Therefore, as prayed for by the ld.AR, assessee is permitted to withdraw the present appeal with liberty to revive the same, if AO passes the consequential assessment order. With the aforesaid observation, the appeal stands dismissed as withdrawn.

5.

In the result, appeal of the assessee is dismissed as withdrawn. Order pronounced in open Court on 28th August, 2023.

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