Jayashree Polymers Private Limited, Pune V. Assistant Commissioner of Income-tax, Circle - 9, Pune

ITA 741/PUN/2019

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 1103 (ITAT-PUNE)
• Duration Of Justice: 3 year(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-05-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2014-2015
• Appeal Filed On: 08-05-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 271(1)(c); 80IA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER आयकर अपील सं. / ITA No.741/PUN/2019 िनधाᭅरण वषᭅ / Assessment Year: 2014-15 Jayashree Polymers Private Limited, C/o Shah Khandelwal Jain & Associates, Level-3, Riverside Business Bay, Plot No.84, Wellesley Road, Near RTO, Pune- 411001. PAN : AAACJ4677K Vs. ACIT, Circle-9, Pune. Appellant Respondent आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the assessee directed against the order of ld. Commissioner of Income Tax (Appeals)- 6, Pune [‘CIT(A)’ for short] dated 18.02.2019 for the assessment year 2014-15. Assessee by : Shri Neelesh Khandelwal Revenue by : Shri S. P. Walimbe Date of hearing : 23.05.2022 Date of pronouncement : 26.05.2022 ITA No.741/PUN/2019 2 2. When the matter had come up for hearing, ld. AR for the assessee filed a letter dated 20.05.2022 seeking permission to withdraw the above captioned appeal. The relevant contents of the said letter dated 20.05.2022 are reproduced hereunder :- “In this regard it is respectfully submitted that the Appellant had filed the appeal before Your Honours against the order of the Hon'ble CIT(A) wherein the Hon'ble CIT(A) has allowed all the other grounds claimed by the Appellant apart from the disallowance of 20% of salary cost amounting to Rs. 1,84,40,444/-. The appeal was filed by the Appellant keeping in view penalty proceedings u/s. 271(1)(c) of the Act. However, subsequently on analysing the matter, it was observed by the Appellant that the addition sustained by the Hon'ble CIT(A) does not result into any tax effect since the deduction allowable u/s. 80IA and 80IC of the Act has also increased to the extent of disallowance upheld by the Hon'ble CIT(A) i.e. Rs. 1,84,40,444/-. In view of the same, no penalty is leviable on the addition so sustained since there is no tax which becomes payable as a result of this disallowance. In view of the fact that there are no adverse implications of the disallowance made and to avoid cost of litigation, the Appellant requests your Honour to kindly allow the Appellant to withdraw the appeal mentioned above, for the kind act of which the Appellant shall be much obliged.” 3. Considering the above submissions of the ld. AR for the assessee and ld. Sr. DR’s no objection for withdrawal of the present appeal, we hereby grant permission to the assessee to withdraw the present appeal. Accordingly, the above captioned appeal stands dismissed as ‘withdrawn’. ITA No.741/PUN/2019 3 4. In the result, the appeal filed by the assessee stands dismissed as ‘withdrawn’. Order pronounced on this 26 th day of May, 2022. Sd/- Sd/- (PARTHA SARATHI CHAUDHURY) (INTURI RAMA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER पुणे / Pune; ᳰदनांक / Dated : 26 th May, 2022. Sujeet आदेश कᳱ ᮧितिलिप अᮕेिषत / Copy of the Order forwarded to : 1. अपीलाथᱮ / The Appellant. 2. ᮧ᭜यथᱮ / The Respondent. 3. The CIT(A)-6, Pune. 4. The Pr. CIT-5, Pune. 5. िवभागीय ᮧितिनिध, आयकर अपीलीय अिधकरण, “A” बᱶच, पुणे / DR, ITAT, “A” Bench, Pune. 6. गाडᭅ फ़ाइल / Guard File. आदेशानुसार / BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण, पुणे / ITAT, Pune.