Shriram Enterprises Dal & Oil Mills, Akola V. Commissioner of Income-Tax,-I,Aayakar Bhawan, Nagpur

ITA 4/NAG/2010

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 84671 (ITAT-NAGPUR)
• Duration Of Justice: 4 year(s) 7 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-09-2014
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 09-10-2012
• Assessment Year: 2006-2007
• Appeal Filed On: 18-01-2010
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SATISH GOYAL
• Assessee Lawyers: S C THAKAR; C J THAKAR
• Section: 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI D. KARUNAKARA RAO, ACCOUNTANT MEMBER AND SHRI VIVEK VARMA, JUDICIAL MEMBER . ITA NO.4/NAG/2010 ( AY: 2006 - 2007 ) SHRIRAM ENTERPRISES DAL & OIL MILLS, K - 8/2 PHASE - III, MIDC, AKOLA. / VS. COMMISSIONER OF INCOME TAX - I, TELANGKHEDI ROAD, CIVIL LINES, NAGPUR. ./ PAN : AADFS8074K ( / APPELLANT) .. ( / RESPONDENT ) / APPELLANT BY : SHRI C.J. THAKAR & MR. S.C. THAKAR / RESPONDENT BY : SHRI SATISH GOYAL, CIT - DR / DATE OF HEARING : 02 .09.2014 / DATE OF PRONOUNCEMENT : 02 .09.2014 / O R D E R PER D. KARUNAKARA RAO, AM: THIS APPEAL FILED BY THE ASSESSEE ON 18.1.2010 IS AGAINST THE ORDER OF THE CIT - I, NAGPUR, DATED 09.11.2009 U/S 263 OF THE ACT FOR THE ASSESSMENT YEAR 2006 - 2007. 2. ON THE DATE OF HEARING, WE NOTICED FROM THE RECORD THAT THE ASSESSEE FILED A LETTER DATED 1 .9.2014 PRAYING TO WITHDRAW THE INSTANT APPEAL. RELEVANT PORTION OF THE SAID LETTER READ AS UNDER: 5. IN VIEW OF THE FACT THAT NOW THE PENALTY PROCEEDINGS FOR AY 2006 - 2007 U/S 271(1)(C) HAVE BEEN DROPPED BY THE AO ON MERITS , THE PRESENT APPEAL BEFORE HON BLE ITAT AGAINST 263 ORDER AND THE ISSUE WHETHER NON - INITIATION OF PENALTY U/S 271(1)(C) WHILE PASSING ORIGINAL ASSESSMENT ORDER RENDERED THE SAID ORDER TO BE ERRONEOUS AND PREJUDICIAL TO THE INTEREST OF REVENUE OR NOT, HAS BECOME MERELY ACADEMIC AND OF N O CONSEQUENCE. IN VIEW OF THESE FACTS THE ASSESSEE DOES NOT PRESS THE PRESENT APPEAL AND CRAVES TO WITHDRAW THE SAME. 3. ON PERUSAL OF THE ABOVE LETTER AND AFTER CONSIDERING THE NO OBJECTION FROM THE LD DR, WE DISMISS THE PRESENT APPEAL AS WITHDRAWN. 4. I N THE RESULT, APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN. ORDER PRONOUN CED IN THE OPEN COURT ON 2 ND SEPTEMBER, 2014 . SD/ - SD/ - (VIVEK VARMA) (D. KARUNAKARA RAO ) / JUDICIAL MEMBER / ACCOUNTANT MEMBER NAGPUR ; 02/ 09/2014 2 . . ./ OKK , SR. PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - 4. / CIT 5. , , NAGPUR / DR, ITAT, NAGPUR. 6. / GUARD FILE . //TRUE COPY// / BY ORDER, ( SR. PRIVATE SECRETARY ) ITAT, NAGPUR