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2021 (7) TMI 443 - ITAT BANGALORERevision u/s 263 - penalty paid for late payment of tax inadvertently omitted to be disallowed in the computation of total income - HELD THAT:- In this case, the PCIT took up the issue u/s. 263 of the Act after giving due opportunity of being heard to the assessee. He set aside the order of AO and directed him to examine the aforesaid issues and to redo the assessment afresh. At the time of hearing, it is pointed out by the ld. AR that the assessee is only challenging the issues on merits which is not decided by the ld. PCIT and he has only remitted the matter back to the AO for fresh consideration in his order u/s. 263. As such, the ld. AR conceded that the issue raised by the assessee is pending before the AO for passing consequential order to the order passed u/s. 263 of the Act. He submitted that the appeal may be dismissed, as not pressed, with liberty to challenge the issues on merits, after passing the consequential order by the AO. Appeal by the assessee is dismissed as withdrawn.
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