M/S G.G. CONTINENTAL TRADERS PRIVATE LIMITED,BATHINDA vs. PRINCIPAL COMMISSIONER OF INCOME TAX -1, AMRITSAR

PDF · subscribers
ITA 98/ASR/2022Status: DisposedITAT Amritsar08 June 2023AY 2015-162 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 permitted the assessee to withdraw the appeal. The PCIT's order under section 263 was challenged, but the assessee found the issue resolved in a consequential order.

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 subsequently requested to withdraw the appeal.

What were the issues?

Whether the appeal against the PCIT's revisionary order under section 263 is maintainable when the underlying issue has been settled in a subsequent assessment order.

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, AMRITSAR BENCH, AMRITSAR

Before: DR. M. L. MEENA & SH. ANIKESH BANERJEE

For Appellant: Shri. Sudhir Sehgal, Advocate, Shri. P.N. Arora, Advocate &, Shri. P.K. Singla, Advocate
For Respondent: Smt. Rajinder Kaur, CIT DR
Hearing: 06/06/2023Pronounced: 08/06/2023

Per Dr. M. L. Meena, AM:

1.

The captioned appeal has been filed by the assessee against the order of the Ld. Pr. Commissioner of Income-Tax-1, (hereinafter referred to as ‘the PCIT’), Amritsar dated 24/03/2022 in respect of Assessment Year 2015-16 passed under section 263 of the Income Tax Act, 1961.

2.

At the outset the Ld. Counsel for the Assessee submitted that the assessee wish to withdraw the appeal filed against the order under section 263 of the Act, passed by the Ld. PCIT, Amritsar stating therein that the issue raised under section 263 by the Ld. PCIT has been decided in favour of the assessee in the consequential order passed under section 143(3) r.w.s 263 and the Assessing Officer has granted relief after verification.

3.

The Ld. DR has no objection to the request of the assessee.

4.

Accordingly, the assessee has been permitted to withdraw the present appeal.

5.

In the result, the appeal of the assessee is dismissed as withdrawn.

Order pronounced in the open court on 08/06/2023

More judgments on Section 263

All 13,616 judgments and leading authorities on Section 263 →

Recent GST High Court judgments

Search GST case law →