MSN Laboratories Private Limited, Hyderabad V. ACIT Central Circle-3(1), Hyderabad

ITA 217/Hyd/2021

• Counselvise Citation: [2021] 104 COUNSELVISE.COM (IT) 8045 (ITAT-HYDERABAD)
• Duration Of Justice: 5 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-11-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-B
• Assessment Year: 2010-2011
• Appeal Filed On: 30-05-2021
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: Y V S T SAI
• Assessee Lawyers: KIRAN
• Section: 263; 22

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH ‘B’, HYDERABAD (THROUGH VIDEO CONFERENCING) BEFORE SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER ITA Nos.217 & 218/H/2021 Assessment Years: 2010-11 & 2014-15 MSN Laboratories Private Limited, Plot No. C-24, MSN House Industrial Estate Sanathnagar, Hyderabad v. Asst. Commissioner of Income Tax Central Circle-3(1), Hyderabad. PAN:AADCM6283F (Appellant) (Respondent) Assessee by: Sri. Kiran & Sri. S. Rama Rao, Advs Respondent by: Sri. YVST Sai, CIT DR Date of hearing: 10.11.2021 Date of pronouncement: .11.2021 O R D E R VIJAY PAL RAO, JUDICIAL MEMBER These two appeals by the assessee are directed against the two separate orders of the Pr. CIT both dated 29.03.2021 passed under Section 263 of the Income Tax Act for the assessment years 2010-11 and 2014-15 respectively. 2. At the time of hearing, the Ld. AR of the assessee submitted that the assessee has filed a petition dated 27 th October, 2001 for withdrawal of these appeals, as in the consequential penalty proceedings initiated under Section 271 (1)(C) was in pursuance to the impugned order passed under Section 263 have been dropped by the Department. He has also filed an order dated 29.07.2021 of the Assessing Officer, Central Circle -3(1), Hyderabad whereby 2 ITA Nos. 217 & 218/H/2021 Assessment Years: 2010-11 & 2014-15 2 the penalty proceedings under Section 271 (1)(C) initiated in pursuance to 263 order are dropped. Thus, the Ld. AR has submitted that the assessee is not interested in pursuing these appeals and therefore, it may be allowed to be withdraw the same. 3. On the other hand, Ld. DR has raised no objection if these appeals of the assesee are dismissed as withdrawn. Accordingly, in view of the withdrawal petition filed by the assesee, these appeals of the assessee are dismissed being withdrawn. 4. In the result, the appeals of the assessee are dismissed as withdrawn. Order pronounced in the open Court on 22.11.2021. Sd/- Sd/- S Sd/-d/- [LAXMI PRASAD SAHU] [VIJAY PAL RAO] ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 22 /11/2021 sh Copy forwarded to: 1 MSN Laboratories Private Limited, Plot No. C-24, MSN House Industrial Estate Sanathnagar, Hyderabad 2 ACIT, Central Circle – 3(1), Aayakar Bhavan, Basheerbagh, Hyd. 3 Pr. CIT(Central), Hyderabad. 4 ITAT, DR, Hyderabad. 5 Guard File. 3 ITA Nos. 217 & 218/H/2021 Assessment Years: 2010-11 & 2014-15 3 By order Assistant Registrar Date Initials Original dictation pad is enclosed at the end of file 1. Draft dictated on: .11.2021 Sr. PS/PS 2. Draft placed before author: .11.2021 Sr. PS/PS 3. Draft proposed & placed before the second member: JM/AM 4. Draft discussed/approved by Second Member: JM/AM 5. Approved Draft comes to the Sr. PS/PS: .11.2021 Sr. PS/PS 6. Order pronounced on: .11.2021 Sr. PS/PS 7. File sent to the Bench Clerk: .11.2021 8. Date on which file goes to the Head Clerk: Sr. PS/PS 9. Date on which file goes to AR 10. Date of dispatch of Order: