M/s H.M. Steels Ltd., Sangrur V. CIT, Patiala

ITA 1274/CHANDI/2010

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 0141 (ITAT-CHANDIGARH)
• Duration Of Justice: 5 year(s) 4 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-04-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 18-11-2015
• Assessment Year: 2006-2007
• Appeal Filed On: 08-11-2010
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S K MITTAL
• Section: 263

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL CHANDIGARH BENCHES, CHANDIGARH BEFORE SHRI H.L.KARWA, HON'BLE VICE PRESIDENT & MS. RANO JAIN, ACCOUNTANT MEMBER ITA NO. 1274CHD/2010 ASSESSMENT YEAR: 2006-07 M/S H.M. STEEL LTD., VS. THE CIT, REGD. OFF. NEW GRAIN MARKET, PATIALA DIRBA, SANGRUR PAN NO. AABCH0164Q (APPELLANT) (RESPONDENT) APPELLANT BY : SH. GURJEET SINGH RESPONDENT BY : SH. S.K. MITTAL DATE OF HEARING : 06.04.2016 DATE OF PRONOUNCEMENT : 06.04.2016 . ORDER PER H.L.KARWA, VP THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAIN ST THE ORDER OF CIT, PATIALA DATED 30/31.08.2010 PASSED U/S 263 OF THE INCOME-TAX ACT, 1961 FOR ASSESSMENT YEAR 2003-04. 2. IN THE CONTEXT OF ABOVE APPEAL, THE ASSESSEE SU BMITTED AN APPLICATION ON 6.4.2016 ITSELF AND SOUGHT PERMISSION TO WITHDRAW THE APPEAL, STATING AS UNDER:- BEFORE THE HON'BLE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH, CHANDIGARH 2 IN THE CASE OF H.M. STEELS LTD. VS. CIT (PATIALA) SANGRUAR ITA NO. 1264/CHD/2010 AY : 2006-07 HEARING 06/04/2016 HON'BLE SIR, IN REFERENCE TO ABOVE SAID CASE, AS THE QUANTUM APP EAL IS CONSEQUENCE TO ABOVE SAID APPEAL U/S 263 HAS BEEN COVERED BY CIT VS. MEGHALYA STEELS LTD IN CIVIL APPEAL NO. 7622 OF 201 4 RELATING TO ISSUE OF TRANSPORT SUBSIDY AMOUNTING TO RS. 2,18,38,221 ALLOWING DEDUCTION U/S 80IC AND HENCE QUANTUM APPEAL NO. 365/CHD/2013 HAS BEEN DECIDED IN FAVOUR OF THE ASSESSEE. SO, DUE TO SAID REASON, WE ARE WITHDRAWING THE APPEAL US/ 263 AND OBLIGE. SD/- (GURJEET SINGH) COUNSEL FOR THE ASSESSEE 3. IN VIEW OF THE ABOVE LETTER, WE GRANT PERMISSIO N TO THE ASSESSEE TO WITHDRAW THE APPEAL. CONSEQUENTLY, WE DISMISS THE APPEAL AS WITHDRAWN. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DIS MISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 06.04.2016. SD/- SD/- (RANO JAIN) (H.L.KARWA) ACCOUNTANT MEMBER VICE PRESIDENT DATED : 6 TH APRIL, 2016 RKK COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT(A) 5. THE DR