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Facts
The assessee filed an appeal against the assessment order challenging an addition of Rs. 1,077,937,987/-. During the hearing, the assessee's counsel submitted that the issue was settled under the Mutual Agreement Procedure (MAP) and filed a withdrawal application.
Held
The Tribunal noted the assessee's submission that the issue was settled under MAP and the subsequent filing of a withdrawal application. The Revenue's counsel had no objection to the withdrawal.
Key Issues
Whether the appeal can be withdrawn as the issue has been settled under MAP.
Sections Cited
143(3), 144C, 253
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Income Tax Appellate Tribunal, “C” BENCH : BANGALORE
Before: SHRI. LAXMI PRASAD SAHU & SHRI. SOUNDARARAJAN K
ORDER Per Laxmi Prasad Sahu, Accountant Member :
This appeal filed by the assessee against the final assessment order passed by the AO on25.10.2018 challenging the addition of Rs.1,077,937,987/-.
At the outset of hearing, the learned Counsel submitted that the issue raised by the Revenue authorities has been settled under MAP and he has filed withdrawal application vide letter dated 04.06.2025 before the Registry, which is as under:
IT(TP)A No.3420/Bang/2018 Page 2 of 8 IT(TP)A No.3420/Bang/2018 Page 3 of 8 IT(TP)A No.3420/Bang/2018 Page 4 of 8 IT(TP)A No.3420/Bang/2018 Page 5 of 8 IT(TP)A No.3420/Bang/2018 Page 6 of 8 IT(TP)A No.3420/Bang/2018 Page 7 of 8
Learned DR has no objection for withdrawal of the appeal by the assessee.
Considering the above application filed by the assessee, we permit to withdraw the appeal of the assessee. Accordingly, the appeal of the assessee is dismissed as withdrawn.
IT(TP)A No.3420/Bang/2018 Page 8 of 8 5. In result, the appeal of the assessee is dismissed as withdrawn.
Pronounced in the court on the date mentioned on the caption page.