What did the Tribunal hold?

The Tribunal allowed the assessee's petition to withdraw the appeal. Consequently, the appeal was dismissed as withdrawn.

The assessee filed an appeal before the ITAT. The assessee's company entered insolvency proceedings, and the Resolution Professional directed them not to proceed further with the appeal.

What were the issues?

The primary issue was whether the assessee should be permitted to withdraw their appeal due to insolvency proceedings.

Shriram Sepl Composites Pvt… vs DCIT | ITAT Chennai 2022

Income Tax Appellate Tribunal, ‘B’ BENCH, CHENNAI

Before: HON’BLE SHRI MAHAVIR SINGH & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM

For Appellant: Shri Veerbathran, Shri G. Johnson (Addl. CIT) –Ld. DR

For Respondent: Shri G. Johnson (Addl. CIT) –Ld. DR

आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member)

The Ld. AR, at the outset, filed withdrawal petition dated 28.03.2022 and sought permission to withdraw the appeal. The contents of the petition read as under: - The above appeal is posted for hearing on 29.03.2022. In the present case, Mr. R. Sivaraman- Advocate is appearing on behalf of the Appellant. The appellant company has entered into insolvency and the Resolution Professional has directed

2 - us to not to proceed further. We have also enclosed the email communication from the Resolution Professional.

The Ld. Sr. DR did not raise any material objection against the same. 2. In view of the foregoing, the assessee is allowed to withdraw the appeal. Accordingly, the appeal stand dismissed as withdrawn.

Order pronounced on 29th March, 2022.

SHRIRAM SEPL COMPOSITES PVT LIMITED,KANCHEEPURAM vs. DCIT CORPORATE CIRCLE 6(1), CHENNAI

What did the Tribunal hold?

What were the facts?

What were the issues?

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