MGB METRO GROUP BUYING HK LTD. - INDIA LIAISON OFFICE (GEMEX TRADING LTD.),GURGAON vs. ACIT, CIRCLE- 1(2), INTL. TAXATION, NEW DELHI

Facts giving rise to the present appeals are that the assessee company had set up a Liaison Office (“LO”) in India pursuant to RBI’s approval dated 27.02.2004. Ld. Counsel for the assessee submitted that the assessee company had deposited the tax liability including interest as determined in the Assessment order. Further, the assessee company had also paid the penalty levied pursuant to the additions made in the assessment order. Ld. Counsel for the assessee further submitted that the assessee company has already closed , 5843 & 5844/Del/2017 Assessment Years : 2001-02, 2004-05, 2005-06 its business operations in India w.e.f. 30.04.2018 and was in the process of obtaining suitable approvals for closure of the LO registration as well.

In view of the above submissions made by the Ld. Counsel for the assessee, coupled with letter by the authorized signatory i.e. Director of the assessee company seeking permission to withdraw the appeals. We hereby, dismiss these appeals as withdrawn.

In the result, the appeals of the assessee are dismissed as withdrawn.