M/s. Samarkand Oriental Carpets, Srinagar (KMR) V. The Income-tax Officer, Srinagar

ITA 12/ASR/2014

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 0122 (ITAT-AMRITSAR)
• Duration Of Justice: 5 year(s) 2 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-03-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 28-03-2019
• Assessment Year: 2001-2002
• Appeal Filed On: 07-01-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 143(3); 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR. BEFORE SH. SANJAY ARORA, ACCOUNTANT MEMBER AND SH. N. K. CHOUDHRY, JUDICIAL MEMBER I. T. A. NO. 12/ASR/2014 ASSE SSMENT YEAR: 2001-02 SAMARKAND ORIENTAL CARPETS C/O H A REHMAN & CO. VAKIL VILLA, KAK SARAI ROAD, KARAN NAGAR, SRINAGAR (J & K) [PAN: AAKFS 9235P] VS. INCOME TAX OFFICER, WARD-3, SRINAGAR (APPELLANT) (RESPONDENT) APPELLANT BY : SH. SUDHIR SEHGAL RESPONDENT BY: SH. CHARAN DASS (D.R.) DATE OF HEARING: 28.03.2019 DATE OF PRONOUNCEMENT: 28.03.2019 ORDER PER SANJAY ARORA, AM: THIS IS AN APPEAL BY THE ASSESSEE ARISING OUT OF TH E ORDER BY THE COMMISSIONER OF INCOME TAX (APPEALS), JAMMU (CIT(A ) FOR SHORT) DATED 29.08.2013, DISMISSING THE ASSESSEES APPEAL CONTES TING ITS ASSESSMENT UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961 ('THE AC T' HEREINAFTER) DATED 31.03.2004 FOR ASSESSMENT YEAR (AY) 2001-02. 2. AT THE VERY OUTSET, IT WAS SUBMITTED BY THE LD. COUNSEL FOR THE ASSESSEE, SH. SEHGAL, THAT THE ASSESSEE SEEKS PERMISSION TO WITHD RAW THE INSTANT APPEAL, PLACING THE REQUEST FOR THE SAME DATED 28.03.2019 ON RECORD . CONTINUING FURTHER, IT WAS EXPLAINED BY HIM THAT THE ASSESSEE HAD ALSO MOVED T HE COMMISSIONER OF INCOME- ITA NO. 12/ASR/2014 (AY 2001-02) SAMARKAND ORIENTAL CARPETS V. ITO 2 TAX U/S. 264 OF THE ACT, AS IS APPARENT FROM THE LA ST PARA (PAGE 4) OF THE IMPUGNED ORDER. THE ASSESSEE HAS SINCE OBTAINED SUBSTANTIAL RELIEF IN THE SAID PROCEEDINGS, WITH SOME ADJUSTMENTS, VIZ. DISALLOWANCE U/S. 40A(3 ), BEING NOT PURSUED IN VIEW OF THE OBTAINING BINDING JUDICIAL PRECEDENTS. THE LD. DEPARTMENTAL REPRESENTATIVE (DR), ON BEING QUERIED BY THE BENCH IN THIS REGARD, RAISED NO OBJECTION TO THE ASSESSEES SAID REQUEST FOR WITHDRAWAL. 3. WE HAVE HEARD THE PARTIES, AND PERUSED THE MATER IAL ON RECORD. IN VIEW OF THE FOREGOING, WE SEE NO REASON NOT TO, ACCEDING TO THE ASSESSEES REQUEST, PERMIT THE SAID WITHDRAWAL. WE DECIDE ACCORDINGLY. 4. IN THE RESULT, THE ASSESSEES APPEAL IS DISMISSE D AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON MARCH 28, 201 9 SD/- SD/- (N. K. CHOUDHRY) (SANJAY ARORA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATE: 28.03.2019 /GP/PS. COPY OF THE ORDER FORWARDED TO: (1) THE APPELLANT: SAMARKAND ORIENTAL CARPETS C/O H A REHMAN & CO., VAKIL VILLA, KAK SARAI ROAD, KARAN NAGAR, SRIN AGAR (JAMMU & KASHMIR) (2) THE RESPONDENT: INCOME TAX OFFICER, WARD-3, SRINAGAR (3) THE CIT(APPEALS), JAMMU (4) THE CIT CONCERNED (5) THE SR. DR, I.T.A.T. TRUE COPY BY ORDER