Skynet Builders (P) Ltd., Zirakpur V. DCIT, Chandigarh

ITA 148/CHANDI/2015

• Counselvise Citation: 14821514 RSA 2015
• Duration Of Justice: 6 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-08-2015
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 26-08-2015
• Assessment Year: 2006-2007
• Appeal Filed On: 09-02-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S K MITTAL
• Assessee Lawyers: RAKESH JAIN
• Section: 40A(3); 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH,CHANDIGARH BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND MS. RANO JAIN, ACCOUNTANT MEMBER ITA NO. 148/CHD/2015 ASSESSMENT YEAR: 2006-07 SKYNET BUILDERS (P) LTD., VS THE DCIT, FLAT NO. 14-A, LEVEL-6, CENTRAL CIRCLE-II, SKYNET TOWERS, BHAPAT, CHANDIGARH. PATIALA ROAD, ZIRAKPUR. PAN: AAICS2411G (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI RAKESH JAIN RESPONDENT BY : SHRI S.K. MITTAL DATE OF HEARING : 26.08.2015 DATE OF PRONOUNCEMENT : 26.08.2015 O R D E R PER BHAVNESH SAINI,JM THIS APPEAL BY ASSESSEE IS DIRECTED AGAINST THE ORD ER OF LD. CIT(APPEALS)-III GURGAON DATED 11.12.2014 FO R ASSESSMENT YEAR 2006-07 CHALLENGING THE ADDITION OF RS. 50,81,200/- UNDER SECTION 40A(3) OF THE INCOME TAX ACT. 2. THE IMPUGNED ORDER ARISES OUT OF THE ASSESSMENT ORDER PASSED BY ASSESSING OFFICER ON DATED 08.03.20 13 UNDER SECTION 263/153A READ WITH SECTION 143(3) OF THE INCOME TAX ACT. IT IS ADMITTED FACT THAT ITAT HAS DECIDED APPEAL OF THE ASSESSEE FOR THE SAME ASSESSMENT YEAR IN ITA 508/2012 VIDE ORDER DATED 25.03.2014 AND GRANTE D SUBSTANTIAL RELIEF TO THE ASSESSEE UNDER SECTION 40 A(3) OF 2 THE ACT. IT IS ALSO ADMITTED FACT THAT THE ASSESSI NG OFFICER HAS GIVEN APPEAL EFFECTS ACCORDINGLY AND ACCORDING TO THE LD. COUNSEL FOR THE ASSESSEE, APPEAL OF THE ASSESSE E IS PENDING BEFORE HON'BLE PUNJAB & HARYANA HIGH COURT. 3. IN VIEW OF THE ABOVE FACTS, THE LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT HE MAY BE PERMITTED TO WITH DRAW THE APPEAL. ACCORDINGLY, THE APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 26 TH AUGUST,2015. SD/- SD/- ( RANO JAIN) (BHAVNESH SAINI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 26 TH AUGUST,2015. POONAM COPY TO: THE APPELLANT, THE RESPONDENT, THE CIT(A), THE CIT, DR ASSISTANT REGISTRAR, ITAT CHANDIGARH