Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, DELHI BENCH “E”: NEW DELHI
Before: SHRI NARENDRA KUMAR BILLAIYA & SHRI KUL BHARAT
O R D E R PER KUL BHARAT, JM:
This appeal, by the assessee, is directed against the order of the learned Principal Commissioner of Income-tax, Ghaziabad, dated 17.03.2021, passed under section 263 of the Income-tax Act, 1961, pertaining to the assessment year 2016-17.
The assessee vide application dated 2.9.2022 has requested the Tribunal for withdrawal of its appeal, inter alia, mentioning as under:
“The above appeal fixed for hearing at 10:30 a.m. as on 06/09/2022. As said appeal was against the order of learned Pr. CIT, Ghaziabad, passed u/s 263 of IT Act as on 17th March 2021 for re-opening concluded assessment and order for fresh assessment for the A.Y. 2016-17. As assessment was time
Mahamedha Urban Coop. Bank Ltd. Vs. ACIT barred u/s 153 (3) of IT Act, i.e. 12 month from the end of F.Y. in which said order was passed, therefore said fresh assessment has been concluded by the Income tax deptt within time frame as on 28/03/2022. Therefore, in our view no purpose going to achieve and to save costly time of H'ble ITAT and further litigation, we are in view to withdraw our appeal. Kindly accept our request to withdraw of above refer appeal.”
The learned DR raised no objection to the request so made on behalf of the assessee. Accordingly, the assessee is permitted to withdraw its appeal.
Assessee’s appeal stands dismissed, having been withdrawn.
Order pronounced in open court on 06.09.2022.