2022 (7) TMI 1373 - AT - Income Tax

Proceedings under section 147 r.w.s 143(3) - Assessee submits at the outset that he neither wishes to press for his cross-objection nor his main cross appeal anymore subject to the condition that he is granted liberty to raise all factual as well as legal issues in the departmental appeal hereinabove in light of Peter Vaz 2021 (4) TMI 605 - BOMBAY HIGH COURT The Revenue is equally fair in not opposing the assessee's forging withdrawal subject to all just exceptions. Faced with this situation, we dismiss the assessee's above Cross Objection.

Summary

Issues: Appeal and Cross Objection withdrawal in the case related to Income Tax Act, 1961 for A.Y. 2008-09

Analysis:
1. Issue of Appeal Withdrawal: The appeal ITA No.180/PUN/2022 and Cross Objection C.O.No.15/PUN/2022 were under consideration arising from the CIT(A), Pune-5's order dated 27.04.2017 in proceedings under section 147 r.w.s 143(3) of the Income Tax Act, 1961. The counsel for the assessee expressed the desire to withdraw both the appeal and the cross-objection, subject to being allowed to raise factual and legal issues in the departmental appeal based on a legal precedent. The Revenue did not oppose this withdrawal, and the Tribunal dismissed the appeals as withdrawn, granting the liberty to the assessee to raise issues in the departmental appeal as per the conditions mentioned.

2. Legal Precedent Reference: The counsel for the assessee referred to the case of Peter Vaz Vs. CIT (2021) 436 ITR 616 (BOM) to support the request for withdrawal of the appeal and cross-objection. The Tribunal acknowledged the reference and allowed the withdrawal of the appeals accordingly.

3. Final Disposition: The Tribunal dismissed the appeal ITA No.180/PUN/2022 and Cross Objection C.O.No.15/PUN/2022 in Revenue's appeal No.1277/PUN/2017 as withdrawn, as per the conditions agreed upon by both parties. The order was pronounced in the open court on 14th July 2022, and a copy of the order was directed to be placed in the respective case files for record.

This detailed analysis covers the withdrawal of the appeal and cross-objection in the context of the Income Tax Act, 1961 for the assessment year 2008-09, highlighting the legal references and the mutual agreement between the parties leading to the dismissal of the appeals.