PRINCE MULTIPLAST P.LTD, MUMBAI V. CIT-7, MUMBAI

ITA 2239/MUM/2015

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 3873 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 3 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-08-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: J
• Next Hearing Date: 11-08-2016
• Assessment Year: 2010-2011
• Appeal Filed On: 16-04-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: ALOK JAIN
• Assessee Lawyers: MRUGAKSHI K JOSHI
• Section: 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL J BENCH , MUMBAI BEFORE SRI MAHAVIR SINGH, J UDICIAL MEMBER AND SRI MANOJ KUMAR AGG A R WAL , ACCOUNTANT MEMBER ITA NO. 2 239 /MUM/2015 (A.Y.: 2010 - 11 ) M/S. PRINCE MULTIPLAST PVT. LTD., 21, 2 ND FLOOR, KALPATARU POINT, KA MANI MARG, SION (EAST), MUMBAI 400 022 VS. COMMISSIONER OF INCOME TAX - 7, ROOM NNO.501, 6 TH FLOOR, AAYAKAR BHAVAN, M. K. ROAD, MUMBAI 400020 PAN:AAACP 9016B APPELLANT .. RESPONDENT APPELLANT BY .. MS. MRUGAKSHI K. JOSHI, AR RESPONDENT BY .. SHRI AL OK JAIN, CIT DR DATE OF HEARING .. 11 - 08 - 16 DATE OF PRONOUNCEMENT .. 11 - 08 - 16 O R D E R PER MAHAVIR SINGH , JM : THIS APPEAL BY THE ASSESSEE IS ARISING OUT OF THE ORDER OF THE PRINCIPAL CIT - 7, MUMBAI IN APPEAL NO.PR.CIT - 7/263/2014 - 15 DATED 17 - 03 - 2015 PASSED U/S 263 OF THE INCOME TAX ACT, 1961 (HEREINAFTER THE ACT). ASSESSMENT WAS FRAMED BY THE DCIT, CIRCLE - 7 (1), MUMBAI VIDE HIS ORDER DATED 31 - 12 - 2012 FOR ASSESSMENT YEAR 2010 - 11 U/S 143 (3) OF THE ACT. 2. AT THE OUTSET, THE LEARNED COUNSEL FOR THE ASSESSEE MADE A STATEMENT AT THE BAR THAT SHE HAS INSTRUCTION FROM THE ASSESSEE NOT TO PRESS THIS APPEAL FOR THE REASON THAT SUBSTANTIAL RELIEF HAS BEEN GRANTED BY THE AO WHILE FRAMING ASSESSMENT IN CONSEQUENCE TO REVISION ORDER PASSED BY THE PRINCIPAL CIT U/S 263 OF THE ACT. BALANCE ADDITIONS SUSTAINED BY THE AO ARE BEING CONTESTED BEFORE THE CIT (A). S HE STATED THAT THE ASSESSEE IS NOT INTERESTED IN PURSUING THE APPEAL. ITA NO. 2 2 39 /MUM/20 1 5 2 3. ON QUERY FROM THE BENCH, THE LEARNED CIT DR HAS NOT OBJECTED TO WITHDRAWA L OF THE APPEAL. IN VIEW OF THIS, WE PERMIT WITHDRAWAL OF THE APPEAL AND DISMISS THE SAME AS NOT PRESSED. 4 . IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DISMISSED AS NOT PRESSED. O RDER PRONOUNCED IN THE OPEN COURT ON 11 - 08 - 2016. SD/ - SD/ - ( MANOJ KUMAR AGGARWAL ) ( MAHAVIR SINGH ) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI , DATED , 11 /08 / 201 6 LAKSHMIKANTA DEKA/SR.PS COPY OF THE ORDER FORWARDED TO : BY ORDER, ASSISTANT REGISTRAR ITAT, MUMBAI DATE INITIAL DICTATIO N PAD ATTACHED WITH THE DRAFT ORDER YES 1. DRAFT DICTATED ON 11 - 08 - 16 SR.PS 2. DRAFT PLACED BEFORE AUTHOR 11 - 08 - 16 SR.PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER - JM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER. - AM 5. APPROVED DRAF T COMES TO THE SR.PS/PS SR.PS 6. KEPT FOR PRONOUNCEMENT ON SR.PS 7. FILE SENT TO THE BENCH CLERK SR.PS 8. DATE ON WHICH FILE GOES TO THE AR 9. DATE ON WHICH FILE GOES TO THE HEAD CLERK. 10. DATE OF DISPATCH OF ORDER. 1. THE APPELLANT 2. THE RESPOND ENT. 3. THE CIT ( A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//