This document examines ITA No. 568/Del/2021, an appeal filed by Arun Kumar against an order under Section 263 of the Income Tax Act by the Principal Commissioner of Income Tax, Rohtak, pertaining to the assessment year 2011-12.
Arun Kumar, the proprietor of Sugan Chand Adish Kumar Aggarwal Mandi in Panipat, Haryana, was appealing against the order dated March 11, 2021. The appeal was against the revision order issued under Section 263 of the Income Tax Act, which allows for the revision of an order if it is considered erroneous and prejudicial to the interests of the revenue.
The case was heard by a bench comprising Sh. N.K. Billaiya, Accountant Member, and Sh. C.N. Prasad, Judicial Member. The hearing took place on May 18, 2023, and the decision to withdraw the appeal was made by the authorized representative of the assessee.
The appeal was officially dismissed as withdrawn on May 18, 2023, as stated in the decision announced in open court. This leaves the original order under Section 263 intact, finalizing the proceedings without a detailed examination of the original issues contested.
This case highlights the procedural aspects of the tax appellate tribunals and the discretionary powers exercised under Section 263 of the Income Tax Act. The withdrawal of the appeal underscores potential strategic decisions made by appellants in the face of challenging appeals.
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