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Facts
Two appeals were filed by different assessees against the orders of the Ld. CIT(A) for the Assessment Year 2015-16. The assessees accepted the profit estimated by the Ld.CIT(A).
Held
The Tribunal condoned the delay in filing the appeals and dismissed both appeals as withdrawn, as the assessees had accepted the orders of the Ld. CIT(A) and sought to withdraw their appeals.
Key Issues
Whether the appeals should be dismissed as withdrawn when the assessees accept the order of the lower appellate authority and seek to withdraw their appeals.
Sections Cited
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Income Tax Appellate Tribunal, ‘C’ BENCH: CHENNAI
Before: SHRI ABY T. VARKEY & SHRI JAGADISH
आदेश / O R D E R PER ABY T. VARKEY, JM: These are appeals preferred by two different assessees against the separate orders of the Learned Commissioner of Income Tax (Appeals)- 18, (hereinafter referred to as ‘Ld.CIT(A)‘), Chennai, both dated 16.02.2024 for the Assessment Year (hereinafter referred to as ‘AY‘)
2015-16.
At the outset, the Ld.AR of the assessee, Shri K. Balasubramanian, Advocate, drew our attention to the letter dated 15.03.2025 signed by the assessees/appellants and submitted that both the assessee’s are withdrawing the appeals since they have accepted the profit estimated by the Ld.CIT(A). The Ld.DR doesn’t oppose the withdrawal of the appeals.
Therefore, the delay of ‘274’ days in filing of these appeals are condoned and we dismiss both the appeals as withdrawn.
In the result, appeals filed by the assessees are dismissed as withdrawn.
Order pronounced on the 05th day of May, 2025, in Chennai.