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Income Tax Appellate Tribunal, MUMBAI BENCH “C” MUMBAI
Before: SHRI OM PRAKASH KANT & SHRI RAHUL CHAUDHARY
PER OM PRAKASH KANT, AM
This appeal has been preferred by the assessee against the order dated 11.03.2020 passed by the Ld. Commissioner of Income Tax (Appeals)-17, Mumbai [in short ‘the Ld. CIT(A)’] in relation with penalty u/s 271(1)(c) of the Income Tax Act (in short ‘the Act’) levied by the Assessing Officer. The grounds raised by the assessee are reproduced as under :
Proma Industries Ltd. 2
1. Under the facts and circumstances of the case and law, the Ld. CIT(A) erred in confirming penalty u/s 271(1)(c) of Rs.3,89,569/- made by the Assessing Officer.
At the outset, the Ld. Counsel of the assessee submitted that issue in dispute has been settled under Vivad Se Vishwas Scheme and therefore, the assessee seeks to withdraw the appeal.
The Ld. Departmental Representative (DR) did not object. The request of the assessee withdrawing appeal has been placed on the file.
3.1 In view of the above, the assessee is allowed to withdraw its appeal and accordingly same is dismissed as withdrawn.
In the result, the appeal of the assessee is dismissed.