This article provides an in-depth analysis of the Income Tax Appellate Tribunal’s proceedings in ITA No. 4780/DEL/2019, where Green Village Agros Pvt Ltd, Karnal, withdrew its appeal against the PCIT, Karnal for the assessment year 2015-16.
The case involves an appeal by Green Village Agros Pvt Ltd against an order passed under section 263 of the Income Tax Act by the Commissioner of Income Tax (Appeals), Karnal. The appeal was directed towards reevaluating the assessment made for the year 2015-16.
The proceedings began with the company’s decision to withdraw the appeal. This decision was presented by the assessee’s representatives, Ms. Uma Upadhyaya, C.A., and Shri Aman Garg, C.A. The Revenue’s representative, Shri Surender Pal, CIT(DR), had no objections to the withdrawal of the appeal.
The tribunal’s proceedings emphasize the right of an assessee to withdraw an appeal under certain conditions. The withdrawal in this case suggests a possible resolution outside the tribunal or a strategic decision by the assessee considering the implications of the section 263 order.
This case serves as a precedent for other entities considering the withdrawal of their appeals. It highlights the procedural aspects and potential reasons behind such decisions, providing a framework for similar future cases.
The tribunal’s acceptance of the withdrawal request by Green Village Agros Pvt Ltd underlines the judicial system’s flexibility in dealing with appeals. This case contributes to the body of precedents regarding the withdrawal of appeals in the Indian Income Tax Tribunal system.
Withdrawal of Appeal by Green Village Agros Pvt Ltd in ITA No. 4780/DEL/2019
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