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Income Tax Appellate Tribunal, ‘E‘ BENCH
Before: SHRI ABY T VARKEY & SHRI M.BALAGANESH
आदेश / O R D E R PER M. BALAGANESH (A.M):
This appeal in A.Y.2016-17 preferred by the order against the revision order of the ld. Principal Commissioner of Income Tax-5, Mumbai u/s.263 of the Act dated 12/03/2022 for the A.Y.2016-17.
This appeal was earlier heard on 28/11/2022. Later, at the time of perusal of the file, it was noticed that certain clarifications are required
M/s. Tecnimont Pvt. Ltd. from the ld. Counsel for the assessee. Accordingly, a clarification hearing was listed on 31/03/2023 i.e. today. At the time of hearing, the ld. Counsel for the assessee filed a letter dated 29/03/2023 addressed by the assessee company to the Bench stating that they are withdrawing the appeal.
The appeal before us is against the revision order passed by the ld. PCIT u/s.263 of the Act. The ld. PCIT had set aside certain issues to the file of the ld. AO for fresh examination. However, in the subsequent proceedings giving effect to Section 263 order, the ld. AO had accepted to the contentions of the assessee and passed the order u/s.143(3) r.w.s. 263 of the Act on 28/03/2023 without making any additions to the total income that had been already determined in the final assessment order dated 27/12/2019. These facts are stated by the assessee in this letter dated 29/03/2023. Accordingly, assessee had sought for withdrawal of the present appeal. In view of the aforesaid facts, we are permitting the assessee to withdraw the appeal filed before us.
In the result, appeal of the assessee is hereby dismissed as withdrawn. Order pronounced on 31/03/2023 in the open Court