M/s. Oscar Investment Ltd., New Delhi V. Pr. CIT VII, New Delhi

ITA 3255/DEL/2015

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 0582 (ITAT-DELHI)
• Duration Of Justice: 5 year(s) 6 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-12-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2010-2011
• Appeal Filed On: 22-05-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: C, NEW DELHI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND BEFORE SHRI O.P. KANT, ACCOUNTANT MEMBER ITA NO.3255/DEL./2015 ASSESSMENT YEAR: 2010-11 M/S. OSCAR INVESTMENT LTD., 54, JANPATH, CONNAUGHT PLACE, NEW DELHI VS. PR. CIT-VII, NEW DELHI PAN :AAACO1722C (APPELLANT) (RESPONDENT) ORDER PER O.P. KANT, AM: THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST ORD ER DATED 25/03/2015 PASSED BY THE LEARNED PRINCIPAL COMMISSI ONER OF INCOME-TAX, DELHI-VII, NEW DELHI [IN SHORT THE LD. PCIT] FOR ASSESSMENT YEAR 2010-11 IN TERMS OF SECTION 263 OF INCOME-TAX ACT, 1961 (IN SHORT THE ACT). 2. AT THE OUTSET, BEFORE US THE LEARNED COUNSEL OF TH E ASSESSEE SUBMITTED THAT ADDITIONS MADE IN THE ASSESSMENT ORD ER PASSED IN CONSEQUENCE TO 263 ORDER, HAVE BEEN DELETED BY THE LEARNED APPELLANT BY SHRI TARANDEEP SINGH, ADV. RESPONDENT BY SHRI F.R. MEENA, SR.DR DATE OF HEARING 16.12.2020 DATE OF PRONOUNCEMENT 16.12.2020 2 ITA NO.3255/DEL./2015 COMMISSIONER OF INCOME-TAX (APPEALS) AND THEREFORE, THE ASSESSEE IS NO LONGER AGGRIEVED WITH THE IMPUGNED ORDER AND THUS APPEAL MAY BE DISMISSED AS INFRUCTUOUS. THE LEARNED COUNSE L OF THE ASSESSEE FILED A COPY OF THE RELEVANT CONSEQUENTIAL ASSESSMENT ORDER AND THE ORDER OF THE LD. CIT(A). 3. ON THE CONTRARY, THE LEARNED DR DID NOT OBJECT TO NOT PRESSING OF APPEAL BY THE ASSESSEE. 4. WE HAVE HEARD RIVAL SUBMISSION OF THE PARTIES THRO UGH VIDEO CONFERENCING AND PERUSED THE RELEVANT MATERIAL ON R ECORD. AS THE ASSESSEE IS NOT INTERESTED IN PURSUING THE APPEAL I N VIEW OF THE ALTERNATIVE RELIEF IN CONSEQUENTIAL ASSESSMENT AND APPELLATE PROCEEDING, ACCORDINGLY WE DISMISS THE PRESENT APPE AL AS INFRUCTUOUS. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DISMI SSED. ORDER PRONOUNCED IN THE OPEN COURT ON 16 TH DECEMBER, 2020. SD/- SD/- (AMIT SHUKLA) (O.P. KANT) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 16 TH DECEMBER, 2020. RK/- (D.T.D.S.) COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR ASST. REGISTRAR, ITAT, NEW DELHI