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Income Tax Appellate Tribunal, HYDERABAD BENCH “B”, HYDERABAD
This appeal is filed by the assessee against the order of the Ld. Principal Commissioner of Income Tax (Central), Hyderabad in DIN Lr. No. ITBA/COM/F/17/2019-20/1026865936(1), dated 23/03/2020 passed U/s. 263 of the Act for the A.Y. 2016-17.
At the outset, the Ld. AR for the assessee placed before us letter dated 01/02/2021 and submitted that the assessee got relief on merits in the consequential proceedings that ensued pursuant to the order passed by the Ld.PCIT U/s 263 of the Act which is the impugned Order on which the assessee is presently on appeal before us. It was Therefore submitted that the assessee desires to withdraw its present appeal. The relevant portion from the assessee’s letter (supra) is extracted herein below for reference:-
“…….
4. Consequent to the above order, the ACIT, Hyderabad has redone the assessment in accordance with the issues discussed by the Principal Commissioner of Income Tax (Central), Hyderabad examined the issues and accepted the income as assessed in the original order passed U/s. 143(3) dated 14/1/2018 at Rs. 2,15,85,541/-.
In view of the aforesaid order passed U/s. 143(3) r.w.s 263 of the Act on 25/01/2021, a copy of which is enclosed, the ITAT appeal filed on 27/05/2020 becomes infructuous and the appeal filed is to be dismissed as withdrawn.”
On perusal of the letter dated 01/02/2021 filed by the assessee seeking permission to withdraw its present appeal, We hereby permit the assessee to withdraw its appeal.
In the result, appeal filed by the assessee is dismissed as withdrawn. Pronounced in the open Court on 20th April, 2021.