Mcleod Russel India Ltd., Kolkata V. DCIT, CIR-4, KOLKATA, Kolkata

ITA 843/KOL/2014

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 91996 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 1 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-06-2015
• Appeal Filed By: Assessee
• Bench Allotted: C
• Assessment Year: 2009-2010
• Appeal Filed On: 02-05-2014
• Court: TRIBUNAL
• Department Lawyers: AJOY KR SINGH
• Assessee Lawyers: S SINGH
• Keywords: Reassessment proceedings
• Section: 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: KOLKATA [BEFORE SHRI MAHAVIR SINGH, JM & SHRI B. P. JAIN, AM ] I.T.A NO. 843 /KOL/201 4 ASSESSMENT YEAR : 200 9 - 1 0 MCLEOD RUSSEL INDIA LTD. VS. DEPUTY COMMISSIONER OF INCOME - TAX - (PAN: AA ACE6918J ) CIRCLE - 4, KOLKATA. ( APPELLANT ) ( RESPONDENT ) DATE OF HEARING: 1 6 .0 6 .2015 DATE OF PRONOUNCEMENT: 16 . 0 6 . 2015 FOR THE APPELLANT: SHRI S. SINGH, FCA FOR THE RESPONDENT: S HRI AJOY KR. SINGH , CIT, DR ORDER PER SHRI MAHAVIR SINGH, JM: THIS APPEAL BY ASSESSEE IS ARISING OUT OF REVISION ORDER PASSED BY CIT , KOLKATA - II , VIDE NO. CIT - I I/ DC(HQ) - 2/KOL/263/2013 - 14/10245 - 47 DATED 2 8 .0 3 .201 4 . ASSESSMENT WAS FRAMED BY ADDL. CIT, RANGE - 4, KOLKATA U/S. 14 3(3) OF THE INCOME - TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT ) FOR ASSESSMENT YEAR 200 9 - 1 0 VIDE HIS ORDER DATED 16 . 12 .20 11 . 2. AT THE OUTSET, WE FIND THAT ASSESSEE FILED A LETTER DATED 06.04.2015 WHEREIN IT HAS BEEN STATED AS UNDER: FOR THE AY 2009 - 10 WE HAD FILED APPEAL AGAINST THE ORDER U / S 263 PASSED BY THE CIT, KOLKATA - II. SUBSEQUENT TO PASSING OF THE ORDER U/S 263 THE ORDER OF REASSESSMENT WAS PASSED BY THE DCIT, CIR - 4(L) KOLKATA ON 02.01.2015. IN THE COURSE OF REASSESSMENT PROCEEDINGS WE HAD E XPLAINED BEFORE THE AO THAT 'BOOK PROFIT' U/S 1151B OF THE ACT WAS RIGHTLY COMPUTED BY THE AO IN THE ORDER U/S 143(3). WHILE PASSING THE ORDER U/S 143(3)/263 DATED 02 - 01 - 2015, THE AO ACCEPTED THE COMPANY'S CONTENTION AND COMPUTED THE BOOK PROFIT U/S 1151B IN CONFORMITY WITH THE COMPANY'S CONTENTION. WE THEREFORE FIND THAT WE NO LONGER HAVE ANY CAUSE OR GRIEVANCE. ACCORDINGLY WE WISH TO WITHDRAW THE APPEAL IN ITA NO. 8431K01/20 14 WHICH IS PENDING BEFORE THE HON'BLE TRIBUNAL AS THERE IS NO GRIEVANCE WHICH NE EDS TO BE DECIDED IN APPEAL. WE THEREFORE REQUEST THE HON'BLE TRIBUNAL TO DISMISS THE ITA NO.843/KO112014 AS WITHDRAWN. AT THE TIME OF HEARING, LD. COUNSEL FOR THE ASSESSEE HAS URGED BEFORE THE BENCH FOR WITHDRAWING THIS APPEAL. LD. SR. DR HAS NOT OBJECTE D TO TH IS WITHDRAWAL. HENCE, WITHDRAWAL IS PERMITTED. APPEAL OF ASSESSEE IS DISMISSED BEING WITHDRAWN. 3 . IN THE RESULT, APPEAL OF ASSESSEE IS DISMISSED AS WITHDRAWN. 4 . ORDER IS PRONOUNCED IN THE OPEN COURT . SD/ - SD/ - ( B. P. JAIN ) (MAHAVIR SINGH) ACCOUNTANT MEMBER J UDICIAL MEMBER DATED : 1 6 TH JUNE , 201 5 JD.(SR.P.S.) COPY OF THE ORDER FORWARDED TO: 1 . A PPELLANT MCLEOD RUSSEL INDIA LTD . , 4, MANGOE LANE, KOLKATA - 700 001 2 RESPONDENT D CIT , C IRCLE - 4, KOLKATA . 3 . THE CIT (A), KOLKATA . 4. CIT , KOLKATA. 5. D.R. ITAT, KOL . / TRUE COPY, BY ORDER, ASSTT. REGISTRAR .