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PER N.K. SAINI, VICE PRESIDENT
This is an appeal by the Assessee against the order dt. 08/10/2018 of Ld. Pr. CIT, Shimla.
Following grounds have been raised in this appeal:
On the facts and circumstances of the case, the Ld. Pr. CIT, Shimla has grossly erred in initiating proceedings under section 263 of the Income Tax Act, 1961 and setting aside the valid assessment completed by the Ld. DCIT, Circle Parwanoo, under section 143(3) of the Income Tax Act, 1961.
2. On the facts and circumstances of the case, the Ld. Pr. CIT, Shimla is not at all justified in setting aside the valid assessment and holding the same to be erroneous as well as prejudicial to the interest of the revenue by invoking the provisions of section 263 of the Income Tax Act, 1961. 3. The appellant craves leave to add, amend, deleted any ground of appeal
before the disposal of the appeal.
3. During the course of hearing the Ld. Counsel for the Assessee submitted that he has the instructions to withdraw this appeal and gave in writing as under:
“ I may be allowed to withdraw the appeal “ Sd/- (Surinder Babbar) Chartered Accountant
Ld. CIT DR did not object if the appeal of the assessee is to be dismissed as withdrawn.
In view of the above the appeal of the Assessee is dismissed as withdrawn.
In the result, appeal of the assessee is dismissed.
(Order pronounced in the open Court on 19/02/2020)