Case Number: ITA 707/DEL/2021
Appellant: Kalidas Khanna, Noida
Respondent: Pr. CIT Delhi-10, New Delhi
Assessment Year: 2016-17
Case Filed On: 2021-06-14
Order Type: Final Tribunal Order
Date of Order: 2022-09-12
Pronounced On: 2022-09-12
Before: Shri Pradip Kumar Kedia, Accountant Member and Shri Anubhav Sharma, Judicial Member
This appeal was filed by Kalidas Khanna against the order of the Principal Commissioner of Income Tax (Pr. CIT), Delhi-10 dated 20.03.2021 for the assessment year 2016-17. The Pr. CIT had invoked his jurisdiction under section 263 of the Income Tax Act, 1961, setting aside the order of the Assessing Officer (AO) dated 29.12.2018, which assessed the income of the appellant at Rs. 1,72,41,808 against the returned income of Rs. 10,22,840.
Kalidas Khanna challenged the jurisdiction of the Pr. CIT under section 263 of the Income Tax Act, which allows the Commissioner to revise any order passed by the AO if it is erroneous and prejudicial to the interests of the revenue. The main issue in contention was the computation of long-term capital gains under section 50C, related to the proportionate share of the property disposed of by the appellant during the financial year 2015-16.
During the proceedings under section 143(2) read with section 263, the AO referred the property under assessment for valuation to the Departmental Valuation Officer (DVO) under section 142A. The DVO issued his report on 31.03.2022.
After considering the DVO’s report, the AO did not make any further additions to the earlier assessed income in his order passed under section 143(3)/263 dated 10.08.2022. Consequently, the revised order did not cause any grievance to the appellant.
The appellant submitted a letter dated 08.09.2022, requesting the withdrawal of the appeal on the grounds that the revised order by the AO under section 143(3)/263 did not cause any further grievance. The letter was considered by the tribunal during the hearing on 12.09.2022.
The Senior Departmental Representative (DR), Shri Anuj Gupta, did not object to the withdrawal request. After hearing and perusing the letter, the tribunal allowed the appeal to be withdrawn.
The Income Tax Appellate Tribunal (ITAT) dismissed the appeal as withdrawn, as the appellant no longer had any grievances against the revised order. This case highlights the procedural aspects and the importance of jurisdictional challenges under section 263 of the Income Tax Act.
This summary provides an overview of the key points and conclusions from the ITAT order in the case of Kalidas Khanna vs. Pr. CIT Delhi-10 for the assessment year 2016-17.
Kalidas Khanna vs. Pr. CIT Delhi-10 – Case Filed for Jurisdiction Challenge
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