PNC Cold Storage Pvt. Ltd., Agra V. Principal Commissioner of Income-tax-1, Agra, Agra

ITA 89/AGR/2022

AI Insights

The case involved PNC Cold Storage Pvt. Ltd., the assessee, who appealed against an order passed under section 263 of the Income Tax Act by the Principal Commissioner of Income Tax-1, Agra. The appeal was related to the Assessment Year 2017-18. The primary contention in the appeal was regarding the revisionary order which the assessee found unnecessary as no adverse inference was drawn by the Assessing Officer in the original assessment order under section 143(3) read with section 263. The assessee submitted an application for withdrawal of the appeal, which was not objected to by the Revenue. Consequently, the tribunal permitted the withdrawal and dismissed the appeal.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 114071 (ITAT-AGRA)
• Duration Of Justice: 1 year(s) 3 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-08-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 27-08-2023
• Assessment Year: 2017-2018
• Appeal Filed On: 26-05-2022
• Laws Referred To: Income Tax Act
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SURENDERA PAL
• Keywords: Revision of order
• Section: 263; 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AGRA BENCH, ‘DB’: AGRA (Through Video Conferencing) BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER ITA No.89/AGR/2022 [Assessment Year: 2017-18] PNC Cold Storage Pvt. Ltd. C-2/37, Vikas Market, Kamla Nagar, Agra, Uttar Pradesh-282005 Vs Principal Commissioner of Income Tax-1, Aayakar Bhawan, Agra, Uttar Pradesh-282002 PAN-AACCP7061R Assessee Revenue Assessee by Sh. Deependra Mohan, C.A. Revenue by Sh. Surendera Pal, CIT-DR Date of Hearing 28.08.2023 Date of Pronouncement 28.08.2023 ORDER PER SHAMIM YAHYA, AM, This appeal by the assessee is against the order of the Ld. CIT-1, Agra, passed u/s 263 of the Act dated 31.03.2023 and pertains to Assessment Year 2017-18. 2. At the outset, in this case, the ld. Counsel for the assessee submitted that this appeal was filed by the assessee against the order u/s 263 of the Act passed by the Ld. Pr. Commissioner of Income Tax. He also submitted that in the proceedings conducted by the Ld. Assessing Officer and the consequent order passed by him u/s 143(3) r.w.s. 263, no adverse inference has been drawn by the Ld. Assessing Officer. Hence, the assessee wants to withdraw the present appeal filed against the revisionary order passed u/s 263 of the 2 ITA No.89/Agra/2022 Act. In this regard, an application of withdrawal dated 30.06.2023 is also available on record. 3. Upon careful consideration, noting that the Revenue does not have any objection, we permit the withdrawal of the appeal. Hence, the appeal of the assessee is dismissed as withdrawn. 4. In the result, the appeal of the assessee is dismissed. Order pronounced in the open court on 28.08.2023. Sd/- Sd/- [ANUBHAV SHARMA] [SHAMIM YAHYA] JUDICIAL MEMBER ACCOUNTANT MEMBER Delhi; 28.08.2023 f{x~{tÜ? f{x~{tÜ?f{x~{tÜ? f{x~{tÜ? Copy forwarded to: 1. Assessee 2. Respondent 3. CIT 4. CIT(A) 5. DR Asst. Registrar, ITAT, New Delhi