M/S HIRA FERRO ALLOYS LTD,RAIPUR vs. C.I.T-1, RAIPUR

The assessee has filed an application dated 14-01-2019 to withdraw the appeal. The relevant extract of the application reads as under : “1. The above mentioned appeal has been fixed for hearing before Hon'ble Bench on 15.01.2019, which has arisen out of order u/s. 263 dt. 24.03.2015, passed by Ld. CIT - I, Raipur. 2. As a result of order u/s 263, the original assessment o r d e r passed by the AO was set aside to the file of AO with specific directions. Thereafter, before the AO could have completed set aside assessment, search U/S 132 was conducted at the premises of assessee and therefore, pending assessments abated. This is how the set aside assessment before the AO for the year under consideration abated and the AO has not passed any order. 3. After the search, the assessee filed application before Hon'ble Settlement Commission, Additional bench, Kolkata, for determination of its undisclosed income. Hon'ble Settlement Commission h a s also passed final order u/s 245D(4) dt. 13.11.2018 i n the matter. In such order, no addition has been made in respect of the two issues on which the assessment w a s set a s i d e b y L d . CIT – I , R a ip u r . Therefore, since t h e r e has not been any a d v e r s e consequence in the case of assessee, the assessee wishes to withdraw the appeal filed. 4. Therefore, it is most humbly and respectfully requested that the assessee may kindly be permitted to withdraw the appeal.”

The Ld. D.R. on the other hand submitted that the Department has no objection in case the assessee wishes to withdraw the appeal.

In view of the written request made by the assessee the appeal is dismissed as withdrawn.