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Assessee withdraws appeal on denied TDS credit, Tribunal grants permission, appeal dismissed. Procedural aspect emphasized. The appeal filed by the assessee against the assessment order for AY 2016-17 under section 143(3) was withdrawn based on the denial of credit of TDS on a ...
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The appeal filed by the assessee against the assessment order for AY 2016-17 under section 143(3) was withdrawn based on the denial of credit of TDS on a cancelled transaction. The Appellate Tribunal granted permission for withdrawal as there was no opposition from the Ld. DR. The appeal was dismissed as withdrawn on 11th August 2022. The decision highlighted the procedural aspect of withdrawal of appeals before the Tribunal and was influenced by the agreement of both parties involved.
Issues: Withdrawal of appeal against the impugned order dated 26.03.2021 for the quantum of assessment passed u/s 143(3) for AY 2016-17 based on an application filed by the assessee regarding denial of credit of TDS deducted by the deductor on a cancelled transaction.
Analysis: The appeal before the Appellate Tribunal ITAT Mumbai was filed by the assessee against the order dated 26.03.2021 passed by Ld. CIT(A)-54, Mumbai for the assessment year 2016-17 under section 143(3). The assessee sought withdrawal of the appeal through an application dated 08.08.2022, citing the denial of credit of TDS deducted by the deductor, Indiabulls Housing Finance Ltd., on a cancelled transaction where no income was offered to tax. The application highlighted that the deductor would initiate proceedings to claim a refund of Rs. 1,15,00,000, leading the appellant to request withdrawal of the appeal. The request for withdrawal was not opposed by the Ld. DR.
The Tribunal, after considering the application and the absence of objection from the Ld. DR, granted permission for the withdrawal of the appeal. Consequently, the appeal filed by the assessee was dismissed as withdrawn. The order allowing the withdrawal was pronounced in the open court on 11th August 2022. The Tribunal's decision was based on the specifics of the application and the agreement of both parties involved in the case, leading to the withdrawal of the appeal by the assessee.
This judgment showcases the procedural aspect of withdrawal of appeals before the Appellate Tribunal based on valid grounds presented by the appellant. The Tribunal's decision to allow the withdrawal was influenced by the circumstances surrounding the denial of TDS credit by the deductor on a cancelled transaction, which prompted the assessee to seek withdrawal of the appeal. The cooperation of both parties involved in the case, along with the absence of objections from the Ld. DR, played a crucial role in the Tribunal's decision to grant permission for the withdrawal of the appeal.
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