M/S. USV PRIVATE LIMITED (FORMERLY KNOWN AS USV LIMITED ),MUMBAI vs DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(1) (ERSTWHILE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 32), MUMBAI

Income Tax Appellate Tribunal, “J” BENCH, MUMBAI

Before: SHRI PRASHANT MAHARISHI, AM &

O R D E R

Per Kavitha Rajagopal, Judicial Member:

The assessee has filed the captioned appeals challenging the order dated 27.04.2017 passed by Ld. CIT(A)-58, Mumbai pertaining to AY 2010-11 and 2011-12 respectively.

2 & 4846/Mum/2017 M/s USV Pvt. Ltd. Ld. AR brought to our notice assessee’s letter dated 29th 2. April 2021 wherein assessee seeks for withdrawal of appeals on the ground of deduction of education cess at 3% on dividend distribution tax. As per the Finance Bill, 2022 has specified education cess /secondary and higher education cess to include in the term ‘Tax’, the same is not deductible while computing business income. Therefore, on this context, the Ld. AR has sought for withdrawal of the grounds of appeal.

On the other hand, Ld. DR has not objected to the same.

We have heard the rival submissions and material placed on record. We find that assessee has filed for withdrawal of grounds of appeal on the above observation. Therefore, we direct the appeal to be withdrawn.

In the result, both the appeal stands dismissed as withdrawn.

Orders pronounced in the open court on 06.05.2022.

M/S. USV PRIVATE LIMITED (FORMERLY KNOWN AS USV LIMITED ),MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -5(1) (ERSTWHILE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 32), MUMBAI