SOMNATH BUILDCON P LTD., MUMBAI V. PR CIT -3, MUMBAI

ITA 1228/MUM/2021

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 1541 (ITAT-MUMBAI)
• Duration Of Justice: 11 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-05-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2015-2016
• Appeal Filed On: 21-06-2021
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: SAMBHAV SHAH
• Keywords: Set aside
• Section: 263; 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI RAHUL CHAUDHARY, JM ITA No. 1228/Mum/2021 (Assessment Year 2015-16) S o m n a th B u ild co n P . L td . 7 0 2 , 7 t h Flo o r, B u il d in g No . -A /1 , A sto n , S u n d e r va n Co m p le x, L o kh a n d wa la Ro a d , A n d h e ri W e st, Mu m b a i-4 0 0 0 5 4 Vs. The Pr. CIT Room No. 612, 6 th Floor, Aayakar Bhavan, M.K. Road, Mumbai-400 020 (Appellant) (Respondent) PAN No.AAMCS2935H Assessee by : Shri Sambhav Shah, AR Revenue by : Shri Ajay Kumar, DR Date of hearing: 17.05.2022 Date of pronouncement : 23.05.2022 O R D E R PER PRASHANT MAHARISHI, AM: 01. ITA No. 1228/Mum/2021 is filed by the assessee against the order of the learned Pr. Commissioner of Income Tax, Mumbai for A.Y. 2015-16 on 15 th March, 2021. 02. At the time of hearing, the assessee has filed a letter dated 14 th May, 2022 stating that subsequently, the learned Assessing Officer has passed an order of assessment under Section 143(3) read with section 263 of the Act, where no additions have been made on some of the issues and on some of the issues additions were Page | 2 ITA No. 1228/Mum/2021 Somnath Buildcon Pvt. Ltd.; A.Y. 15-16 deleted later on by the learned PCIT. Therefore, the assessee is withdrawing the above appeal. 03. The learned Departmental Representative has not objected to the same. 04. We have carefully considered the rival contentions and find that the assessee has submitted a letter dated 14 th May, 2021, which is as under:- “Subject: Request for leave to withdraw the Appeal 1. The abovementioned appeal was preferred by the assessee against order passed by the Id. PCIT under s 263 of the Income Tax Act, 1961. The original assessment order under s 143(3) was set aside and the ld. Assessing Officer was directed to verify certain issues after allowing assessee an opportunity of making submissions on merits. 2. Subsequently, ld. Assessing Officer has passed order of assessment under s 143(3) r.w.s. 263. Assessee's case in respect of some issues/transactions was accepted after verification, and no addition made; while in respect of certain other issues/transactions, additions were made. Assessee is in appeal on merits against the said order before the CIT(A) / appellate authority in accordance with law. 3. In view of the aforesaid, the assessee seeks the leave of the Hon'ble Bench to withdraw the present appeal before the Hon'ble ITAT (which was on issue Page | 3 ITA No. 1228/Mum/2021 Somnath Buildcon Pvt. Ltd.; A.Y. 15-16 of exercise of powers under s 263), as the assessee would instead seek to challenge the additions made by the Id. AO / order passed by the ld. AO in giving effect to the directions under s 263 on merits, in accordance with law. Assessee seeks to respectfully submit that it is not seeking to withdraw/give up its case on merits, but is only seeking to withdraw the present appeal relating to exercise of powers under s 263 which is pending before the Hon'ble Tribunal. Assessee will contest the additions made on merits in accordance with law. 4. In these circumstances, the assessee respectfully seeks leave of the Hon'ble Bench to withdraw the present appeal accordingly. The assessee requests that the present application be placed before the Hon'ble Bench for suitable orders.” 05. As the assessee seeks to withdraw the appeal, the request of the assessee is accepted. Accordingly, the appeal of the assessee becomes infractuous and hence, dismiss. 06. In the result, the appeal of the assessee is dismissed as withdrawn. Order pronounced in the open court on 23.05.2022. Sd/- Sd/- (RAHUL CHAUDHARY) (PRASHANT MAHARISHI) (JUDICIAL MEMBER) (ACCOUNTANT MEMBER) Mumbai, Dated: 23.05.2022 Sudip Sarkar, Sr.PS Page | 4 ITA No. 1228/Mum/2021 Somnath Buildcon Pvt. Ltd.; A.Y. 15-16 Copy of the Order forwarded to : 1. The Appellant 2. The Respondent. 3. The CIT(A) 4. CIT 5. DR, ITAT, Mumbai 6. Guard file. BY ORDER, True Copy// Sr. Private Secretary/ Asst. Registrar Income Tax Appellate Tribunal, Mumbai