CITICORP FINANCE (INDIA) LTD., MUMBAI V. PR. CIT -14, MUMBAI

ITA 1666/MUM/2020

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 0929 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 1 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-08-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2014-2015
• Appeal Filed On: 07-07-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 263; 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL "C" BENCH, MUMBAI SHRI B.R. BASKARAN, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER ITA No. 1666/MUM/2020 (Assessment Year: 2014-15) Citicorp Finance (India) Limited, 8 th Floor, C-54 and C-55, G-Block, First International Financial Centre, Bandra Kurla Complex, Bandra (East), Mumbai - 400051 [PAN: AABCA3223B] Principal Commissioner of Income Tax- 14, Mumbai, Room No. 426, 4 th Floor, Aayakar Bhavan, Maharishi Karve Road, Mumbai - 400020 ................. Vs .................. Appellant Respondent Appearances For the Appellant/Assessee For the Respondent/Department : : Shri Madhur Agarwal Shri Ganesh Bare Date of conclusion of hearing Date of pronouncement of order : : 29.08.2022 30.08.2022 O R D E R Per Rahul Chaudhary, Judicial Member: 1. By way of the present appeal the Appellant/Assessee has challenged the order, dated 20.04.2020, passed by the Ld. Principal Commissioner of Income Tax-14, Mumbai [hereinafter referred to as ‘the PCIT’] under Section 263 of the Income Tax Act, 1961 [hereinafter referred to as ‘the Act’] in respect of assessment order, dated 08.12.2017, passed by the Deputy ITA No. 1666/Mum/2020 Assessment Year: 2014-15 2 Commissioner of Income Tax-14(1)(2) under Section 143(3) read with Section 92CA(4) of the Act. 2. When the matter was taken up for hearing, the Ld. Authorised Representative for the Appellant placed on record letter, dated 26.08.2022, seeking withdrawal of the appeal stating that the prescribed period of 12 months for passing the assessment order in consequence of the revision order, dated 20.04.2020, passed by the PCIT under Section 263 of the Act had expired. Therefore, the Appellant, without prejudice to the contentions on the merits of the appeal, wanted to withdraw the present appeal with the liberty to revive the present appeal or to file a fresh appeal in case an assessment order is subsequently passed by the Assessing Officer. 3. In view of the above, the present appeal is dismissed as withdrawn. Order pronounced on 30.08.2022. Sd/- Sd/- (B.R. Baskaran) Accountant Member (Rahul Chaudhary) Judicial Member म ुंबई Mumbai; दिन ुंक Dated : 30.08.2022 Alindra, PS ITA No. 1666/Mum/2020 Assessment Year: 2014-15 3 देश की प्रतितिति अग्रेतिि/Copy of the Order forwarded to : 1. अपील र्थी / The Appellant 2. प्रत्यर्थी / The Respondent. 3. आयकर आय क्त(अपील) / The CIT(A)- 4. आयकर आय क्त / CIT 5. दिभ गीय प्रदिदनदि, आयकर अपीलीय अदिकरण, म ुंबई / DR, ITAT, Mumbai 6. ग र्ड फ ईल / Guard file. आिेश न स र/ BY ORDER, सत्य दपि प्रदि //True Copy// उप/सह यक पुंजीक र /(Dy./Asstt. Registrar) आयकर अपीलीय अदिकरण, म ुंबई / ITAT, Mumbai