LOTUS TILES PVT. LTD., NAGPUR V. PRINCIPAL COMMISSIONER OF INCOME TAX -1, NAGPUR

ITA 37/NAG/2021

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 9675 (ITAT-NAGPUR)
• Duration Of Justice: 1 year(s) 1 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-06-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2010-2011
• Appeal Filed On: 21-04-2021
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RAJEEV BENJWAL
• Section: 147; 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S, JUDICIAL MEMBER ITA No.37/Nag./2021 (Assessment Year : 2010–11) Lotus Tiles Private Limited 44, CA Road Agrasen Chowk Nagpur–440 002 PAN No: AAACL2886L ............... Appellant v/s PCIT,Nagpur–1 1 st Floor, Aaykar Bhawan Nagpur–440 001 ................... Respondent Assessee by : Shri Rajesh V. Loya, CA Revenue by : Shri Rajeev Benjwal, CIT Date of Hearing – 07.06.2022 Date of Order – 07 .06.2022 O R D E R PER SHRI VIKRAM SINGH YADAV, A.M. This is an appeal filed by the assessee directed against order of the Learned Principal Commissioner of Income Tax-1, Nagpur, dated 23.02.2021 passed under section. 263 of the Act pertaining to A.Y. 2010– 11. 2. During the course of hearing, the ld. AR submitted that the assessee has since received the order passed under section. 147 r.w.s. 263 r.w.s. 2 ITA No.37/Nag/2021 144B of the Act, dated 31.03.2022, wherein ‘nil’ demand has been raised on the assessee. It was submitted that the said order is acceptable to the assessee and in view of the same, the assessee may be allowed to withdrawal the present appeal filed against the order passed under section. 263 of the Act. 3. Per contra, the ld. DR did not raise any objection in accepting the said prayer of withdrawal of the present appeal. 4. After hearing both the parties and considering the material available on record and taken into consideration the submission of the ld. AR on behalf of the assessee that the order under section. 147 r.w.s. 263 r.w.s. 144B of the I.T.Act., dated 31.03.2022 has been accepted by the assessee, the present appeal filed against order under section 263 is allowed to be withdrawn. 5. In the result, appeal of the assessee is dismissed as withdrawn. Order pronounced in the open Court on 07 .06.2022 Sd/– YOGESH KUMAR U.S JUDICIAL MEMBER Sd/– VIKRAM SINGH YADAV ACCOUNTANT MEMBER NAGPUR, DATED: 07 .06.2022 3 ITA No.37/Nag/2021 Copy of the order forwarded to: (1) The Assessee; (2) The Revenue; (3) The CIT(A); (4) The CIT, Nagpur City concerned; (5) The DR, ITAT, Nagpur; (6) Guard file. True Copy By Order Kasarla Thirumalesh Sr. Private Secretary (A.R./Sr. P.S./P.S.) ITAT, Nagpur