Vinayak Nirman Pvt. Ltd., Varanasi V. PCIT, Varanasi

ITA 114/VNS/2018

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 6181 (ITAT-VARANASI)
• Duration Of Justice: 3 year(s) 2 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-03-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2015-2016
• Appeal Filed On: 26-12-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Revision of order
• Section: 263; 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL CIRCUIT BENCH, VARANASI BEFORE SHRI.VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER ITA No. 114/Vns/2018 Assessment Year: 2015-16 VinayakNirman Pvt. Ltd., CK 23/23, Vijay Raman Katra, Rani Kuan, Chowk, Varanasi-221001, U.P. v. Pr. Commissioner of Income Tax,AayakarBhawan, MaqboolAlam Road, Varanasi-221002, U.P. PAN:AACCV1456A (Appellant) (Respondent) Appellant by: None, written application dated 22.03.2022 filed by Advocate, ShriAshishBansal requesting for withdrawal of assessee’s appeal Respondent by: ShriRamendra Kumar Vishwakarma, CIT DR Date of hearing: 23.03.2022 Date of pronouncement: 23.03.2022 O R D E R PER SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER: This appeal, filed by assessee, being ITA No.114/Vns/2018, is directed against revisionary order dated 25.10.2018, under Section 263 of the Income Tax Act, 1961(hereinafter called “ the Act” ) passed bylearned Pr. Commissioner of Income Tax, Varanasi (hereinafter called "the Pr. CIT"),for ITA No.114/Vns/2018 Assessment Year: 2015-16 VinayakNirman Pvt. Ltd. 2 assessment year(ay):2015-16. The ld. counsel for the assesse ShriAshishBansal, Advocate has filed written application dated 22.03.2022(placed on record in file) , requesting for withdrawal of the appeal. We have heard learned CIT-DR in Open court through physical hearing mode. 2. The brief facts of the case are that therevisionary orderdated 25.10.2018 , under Section 263 of the 1961 Act was passed by ld. Pr. CIT for ay:2015-16 , holding that assessment order dated 26.05.2017 passed by the Assessing Officer u/s. 143(3) of the 1961 Act is erroneous so far as prejudicial to the interest of the Revenue, and hence being amenable to revisionary proceedings u/s 263 of the 1961 Act. 3. Aggrieved by aforesaid revisionary order dated 25.10.2018 passed by ld. Pr. CIT u/s 263 of the 1961 Act , the assessee filed an first appeal before Income Tax Appellate Tribunal( hereinafter called “ the tribunal”) , VaranasiCircuit Bench, Varanasi, U.P. , challenging the revisionary order dated 25.10.2018 passed by ld. Pr.CIT u/s 263 of the 1961 Act. When this appeal came up for hearing before Division Bench of the tribunal, The Registry has brought on record written application dated 22.03.2022 submitted by ld. counsel for the assesse ShriAshishBansal, Advocate , wherein prayers have been made by ld. counsel for the assessee, ShriAshishBansal, Advocate in his written application dated 22.03 2022 , requesting for withdrawal of assessee’sappeal in ITA no. 114/Vns/2018 for ay: 2015-16 filed with tribunal, on the grounds that pursuant to the revisionary order dated 25.10.2018 passed by ld. Pr.CIT u/s. 263 of the 1961 Act for Ay: 2015-16, the ld. AO has now framed an assessment order dated 31.12.2019 u/s. 143(3) read with Section 263 of the Act , and the assessment which was earlier completed u/s. 143(3) of the Act ITA No.114/Vns/2018 Assessment Year: 2015-16 VinayakNirman Pvt. Ltd. 3 assessing income of assesse at Rs.65,00,300/-was sustained and no additions were made in the assessment order now framed u/s 143(3) read with Section 263 of the 1961 Act, dated 31.12.2019, now passed by AO pursuant to the direction of ld. Pr. CIT u/s. 263 of the Act. Thus, it is stated in the said application dated 22.3.2022 (which is placed on record in file) filed by ld. Counsel for the assesse ShriAshishBansal, Advocate that the assessee wants to withdraw its appeal, which should be dismissed by the tribunal. Ld.CIT- DR did not raise any objection if the appeal of the assesse in ITA No. 114/Vns/ 2018 for ay: 2015-16 is dismissed as withdrawn .After considering the material on record and after hearing ld. CIT-DR, we allow the assessee to withdraw its appeal which now stands dismissed as withdrawn. We Order accordingly. 4. In the result, the appeal of the assessee in ITA No. 114/Vns/2018 for ay: 2015-16 is dismissed as withdrawn. Order pronounced in Open Courton23/03/2022at Varanasi, U.P, after the conclusion of hearing. Sd/- Sd/- [VIJAY PAL RAO] [RAMIT KOCHAR] JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 23/03/2022 ITA No.114/Vns/2018 Assessment Year: 2015-16 VinayakNirman Pvt. Ltd. 4 Copy forwarded to: 1. Appellant –VinayakNirman Pvt. Ltd., CK 23/23, Vijay Raman Katra, Rani Kuan, Chowk, Varanasi-221001, U.P. 2. Respondent –The Pr. Commissioner of Income Tax, AayakarBhawan, MaqboolAlam Road, Varanasi-221002, U.P. 3. CIT(A) , Varanasi, U.P. 4. Pr. CIT, Varanasi, U.P. 5. Sr. DR , ITAT, Varanasi, U.P. By order Assistant Registrar ITA No.114/Vns/2018 Assessment Year: 2015-16 VinayakNirman Pvt. Ltd. 5 Date Initials Original dictation pad is enclosed at the end of file 1. Draft dictated on: 23.03.2022 Sr. PS/PS 2. Draft placed before author: 23.03.2022 Sr. PS/PS 3. Draft proposed & placed before the second member: .03.2022 JM/AM 4. Draft discussed/approved by Second Member: JM/AM 5. Approved Draft comes to the Sr. PS/PS: .03.2022 Sr. PS/PS 6. Order pronounced on: .03.2022 Sr. PS/PS 7. File sent to the Bench Clerk: .03.2022 8. Date on which file goes to the Head Clerk: Sr. PS/PS 9. Date on which file goes to AR 10. Date of dispatch of Order: