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Income Tax Appellate Tribunal, DELHI BENCH : A : DELHI
Before: SHRI M. BALAGANESH & SHRI ANUBHAV SHARMA
(Appellant) (Respondent) Assessee by : Shri Subhash Agarwal, CA Revenue by : Shri Praveen Sidharth, CIT, DR Date of Hearing : 27.06.2023 Date of Pronouncement : 27.06.2023 ORDER
PER M. BALAGANESH, AM:
This is an appeal preferred against the order under section 263 of the IT Act, 1961 passed by the PCIT on 05.03.2021. The ld. AR made a statement that in the giving effect proceedings to order under section 263 of the Act, the ld. AO had not made any addition in respect of unsecured loan received from M/s Sofed Dealcom Pvt. Ltd. in the sum of Rs.8,50,00,000/-. Since the relief is granted to the assessee in the giving effect proceedings to section 263 order, this appeal becomes infructuous. Accordingly, the grounds raised by the assessee are hereby dismissed as withdrawn.
In the result, the appeal of the assessee is dismissed as withdrawn.