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

ITA 11/NAG/2019

AI Insights

This case involves an appeal by Rahul Rajendra Jain against the order of the Principal Commissioner of Income Tax-2, Nagpur, dated 26.12.2018 for the Assessment Year 2014-15. The appeal was initially filed in response to a section 263 order, which allows the PCIT to revise any order passed by the AO if it is deemed erroneous and prejudicial to the interests of the revenue. The assessee's representative filed an application to withdraw the appeal, citing that the time limit for the AO to pass a consequential assessment order, as per section 153(3) of the Income Tax Act, had expired on 31/12/2019. The Departmental Representative did not object to this withdrawal.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 136657 (ITAT-NAGPUR)
• Duration Of Justice: 4 year(s) 7 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-08-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 22-08-2023
• Assessment Year: 2014-2015
• Appeal Filed On: 21-01-2019
• Laws Referred To: Income Tax Act
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: RATAN SHARMA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH :: NAGPUR BEFORE SHRI R.S. SYAL, HON. VICE-PRESIDENT & SHRI PARTHA SARATHI CHAUDHURY, HON. JUDICIAL MEMBER (Through virtual hearing) ITA No.11/NAG/2019 (A.Y. 2014-15) Rahul Rajendra Jain, Opp. Bhansali School, Kandli Road, Vrundawan Nagar, Paratwada, Dist. Amravati. PAN: AHAPJ 8041 K vs Pr.CIT-1, Nagpur. 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 ITA No.11/NAG/2019 Rahul Rajendra Jain 2 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 28 th August, 2023. Sd/- Sd/- (R.S. SYAL) (PARTHA SARATHI CHAUDHURY) VICE-PRESIDENT JUDICIAL MEMBER Dated :28 th August, 2023 vr/- Copy to : 1. The Appellant. 2. The Respondent. 3. The Pr. CIT concerned. 5. The DR, ITAT, Panaji Bench, Panaji. 6. Guard File. By Order // TRUE COPY // Senior Private Secretary ITAT, Pune.