Rajakumari Shopping Mall LLP. , Attingal V. Principal Commissioner of Income Tax, Trivandrum

ITA 470/COCH/2022

AI Insights

The case involved Rajakumari Shopping Mall LLP, the appellant, who filed an appeal against the order of the Assistant Commissioner of Income Tax under section 263 of the Income Tax Act, 1961, concerning their assessment for the year 2016-17. The appeal was heard by the Income Tax Appellate Tribunal, Cochin Bench. During the proceedings, the appellant decided not to press the appeal, citing a recent search and subsequent assessments that would cover the disputed assessment year, rendering the appeal moot. The respondent did not object to the withdrawal of the appeal.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 108289 (ITAT-COCHIN)
• Duration Of Justice: 1 year(s) 1 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-05-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 15-05-2023
• Assessment Year: 2016-2017
• Appeal Filed On: 05-04-2022
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 263; 153A

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri Sanjay Arora, Accountant Member and Shri Aby T.Varkey, Judicial Member ITA No. 470/Coch/2022& SA 13/Coch/2022 (Assessment Year: 2016-17) Rajakumari Shopping Mall LLP AMC 11/1556, City Plaza NH Road, Attingal Trivandurm 695101 PAN – AAQFR1222B vs. Asst. CIT, Circle 1(2) Trivandurm [Appellant] [Respondent] Appellant by: Shri Anil D. Nair, Adv. Respondent by: Shri Prasanth V.K. CIT-DR Date of Hearing: 16.05.2023 Date of Pronouncement: 16.05.2023 O R D E R Per: Sanjay Arora, AM This is an Appeal by the Assessee agitating the revision under section 263 of Income Tax Act, 1961 (‘the Act’hereinafter) of it’s assessment under section 143(3) of the Act dated 31.12.2018 for assessment year (AY) 2016-17 vide order dated 29.3.2021. 2.1 At the outset, it was submitted by Shri Nair, the learned counsel for the assessee, that the assessee wishes not to press it’s instant appeal and, accordingly prays for permission to withdraw the same, toward which he shallmake an endorsement on the appeal file itself. As explained by him, the assessee had since been subject to search u/s. 132(1) of the Act, leading to assessments u/s. 153A of the Act for back years as well, and which would subsume the instant assessment. ITA No. 470/Coch/2022 (AY: 2016-17) Rajakumari Shopping Mall LLP v. Asst. CIT Page 2 2.2 The ld. CIT-DR, on being asked, did not raise any objection to the same. 3. In view of the given facts and circumstances, we have no hesitation in accepting the assessee’s plea for withdrawal of it’s appeal; the same being rendered inconsequential in view of the subsequent developments. We order accordingly. The assessee’s stay petition is rendered infructuous in consequence. 4. In the result, the appeal by the assessee is dismissed as withdrawn. Order pronounced in open court on May 16, 2023 Sd/- Sd/- (Aby T.Varkey) (Sanjay Arora) Judicial Member Accountant Member Cochin, Dated:May 16, 2023 Copy to: 1. The Appellant 2. The Respondent 3. The Pr. CIT concerned 4. The CIT-DR, ITAT, Cochin 5. Guard File By Order Assistant Registrar ITAT, Cochin n.p.