Mas Financial Services Ltd., Ahmedabad V. The Pr. CIT-1, Ahmedabad

ITA 165/AHD/2022

AI Insights

The case involves Mas Financial Service Ltd., the appellant, contesting an order from the Principal Commissioner of Income Tax, Ahmedabad-1, for the Assessment Year 2017-18. The dispute initially arose from an order under Section 263 of the Income Tax Act, 1961, which was subsequently addressed in an order under Section 143(3) by the Assessing Officer. The Assessing Officer's order, passed on 29.03.2023, confirmed the income assessment of the assessee as unchanged. Consequently, the assessee found the appeal to be academic and sought to withdraw it, a move that was not objected to by the Departmental Representative.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 129277 (ITAT-AHMEDABAD)
• Duration Of Justice: 11 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-04-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 09-04-2023
• Assessment Year: 2017-2018
• Appeal Filed On: 11-05-2022
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 263; 143(3)

Judgement Text

ITA No.165/Ahd/2022 Assessment Year: 2017-18 Page 1 of 2 IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “A” BENCH, AHMEDABAD BEFORE Ms. SUCHITRA KAMBLE, JUDICIAL MEMBER AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER ITA No.165/Ahd/2022 Assessment Year: 2017-18 Mas Financial Service Ltd., vs. Principal Commissioner of Income 6, Ground Floor, Tax, Ahmedabad-1. Narayan Chambers, Behind Patang Hotel, Ashram Road, Ahmedabad – 380 009. [PAN – AABCM 0640 A] (Appellant) (Respondent) Assessee by : Shri Sakar Sharma, AR Revenue by : Shri Vijay Kumar Jaiswal, CIT DR Date of hearing : 10.04.2023 Date of pronouncement : 12.04.2023 O R D E R PER SUCHITRA KAMBLE, JUDICIAL MEMBER : This appeal is filed by the Assessee against order dated 31.03.2022 passed by the PCIT, Ahmedabad-1 for the Assessment Year 2017-18. 2. The Ld. AR submitted that the order under Section 143(3) of the Income Tax Act, 1961 in consequential to Section 263 of the Act was passed by the Assessing Officer on 29.03.2023 whereby the directions of the PCIT given under Section 263 of the Act which is the order challenged before the Tribunal has been considered and taken into account. The Assessing Officer assessed the income of the assessee and the same remains unchanged and, therefore, the Ld. AR submitted that the present appeal remains academic and hence the assessee is praying for withdrawal of the appeal. 3. The Ld. DR does not have any objection for the withdrawal of the appeal filed by the assessee. ITA No.165/Ahd/2022 Assessment Year: 2017-18 Page 2 of 2 4. We have heard both the parties and perused all the relevant material available on record. The statement made before us by the Ld. AR is accepted and the appeal is withdrawn by the assessee. Hence, the appeal filed by the assessee is dismissed as withdrawn. 5. In the result, appeal filed by the assessee is dismissed as withdrawn. Order pronounced in the open Court on this 12 th day of April, 2023. Sd/- Sd/- (WASEEM AHMED) (SUCHITRA KAMBLE) Accountant Member Judicial Member Ahmedabad, the 12 th day of April, 2023 PBN/* Copies to: (1) The appellant (2) The respondent (3) CIT (4) CIT(A) (5) Departmental Representative (6) Guard File By order UE COPY Assistant Registrar Income Tax Appellate Tribunal Ahmedabad benches, Ahmedabad