Appeal details
Counselvise Citation
[2023] 140 COUNSELVISE.COM (IT) 115391 (ITAT-COCHIN)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
1 year(s) 11 month(s) 1 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
01-03-2023
Appeal Filed By
Assessee
Order Result
Dismissed
Bench Allotted
DB
Next Hearing Date
31-12-0000
Assessment Year
2016-2017
Appeal Filed On
29-03-2021
Judgement Text
IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri George George K., Judicial Member and Ms. Padmavathy S., Accountant Member ITA No. 38/Coch/2021 (Assessment Year: 2016-17) M/s. Synthite Industires P. Ltd. C/o. Elias George & Co., Cas EGC House, HIG Avenue Ghandi Nagar, Kochi 682020 PAN – AADCS5616E vsDCIT, Corporate circle 2(1) CR Building, IS Press Road Kochi 682011 (Appellant) (Respondent) Assessee by:Shri Thomson Thomas, CA Revenue by:Smt. J.M. Jamuna Devi, Sr. DR Date of hearing: 02.03.2023 Date of pronouncement: 02.03.2023 O R D E R Per: George George K., J.M. This appeal at the instance of the assessee is directed against the order of the Principal Commissioner of Income Tax, Kochi-1, dated 08-03.2021 passed under Section 263 of the Income Tax Act, 1961 (the Act). The relevant assessment year is 2016-17. 2.During the course of hearing the learned A.R. moved an application for withdrawing the appeal stating that the Assessing Officer has already passed the order giving effect to the directions of the PCIT. The assessee had filed a writ petition before the Hon'ble High Court of Kerala against the order passed by the Assessing Officer. The Hon'ble High Court has, vide order dated 10 th February, 2023 in WP(C) No. 12756 of 2022, set aside the order passed by the ITA No. 38/Coch/2021 M/s. Synthite Industires P. Ltd. 2 Assessing Officer with direction to redo the assessment. In view of the above facts the assessee prayed for withdrawal of the appeal. 3.The learned D.R. did not raise any objection. 4.In view of the above facts and considering the prayer of the assessee we dismiss the appeal filed by the assessee as withdrawn. Order pronounced in the open Court on 2 nd March, 2023. Sd/- Sd/- (Padmavathy S.) (George George K.) Accountant Member Judicial Member Cochin, Dated: 2 nd March, 2023 Copy to: 1.The Appellant 2.The Respondent 3.The CIT(A) - 4.The CIT - 1, Kochi 5.The DR, ITAT, Cochin 6.Guard File By Order //True Copy// Assistant Registrar ITAT, Cochin n.p.
AI Insights
The case involves M/s. Synthite Industries P. Ltd., the appellant, contesting an order from the Principal Commissioner of Income Tax, Kochi-1, under Section 263 of the Income Tax Act, 1961, for the assessment year 2016-17. The appellant had initially filed an appeal against this order. However, during the proceedings, it was revealed that the Assessing Officer had already complied with the directions of the PCIT, and a subsequent writ petition by the appellant led to the High Court of Kerala setting aside the Assessing Officer's order and directing a re-assessment. Consequently, the appellant requested to withdraw the appeal, which was unopposed by the Departmental Representative and accepted by the tribunal.
