M/S NIMBLE INVESTMENTS,MUMBAI vs. ACIT -21(2), MUMBAI

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ITA 5201/MUM/2019Status: DisposedITAT Mumbai22 March 2021AY 2012-132 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal allowed the assessee to withdraw the appeal. The appeal was consequently dismissed as withdrawn.

What were the facts?

The assessee filed an appeal against the CIT(A)'s order for AY 2012-13. The assessee later requested to withdraw the appeal due to low tax impact and the cost of litigation.

What were the issues?

The primary issue was the assessee's request to withdraw the appeal, not the merits of the case.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “B” MUMBAI

For Appellant: Shri Tharian Oommen, Sr. D.R
For Respondent: Ms. Riddhi Maru, A.R, Shri Tharian Oommen, Sr. D.R
Hearing: 22/03/2021Pronounced: 22/03/2021

ORDER

PER RAVISH SOOD, JM

1.

The captioned appeal filed by the assessee is directed against the order passed by the CIT(A)-48, Mumbai, dated 31.05.2019, which in turn arises from the assessment order passed by the A.O under Sec. 143(3) of the Income Tax Act, 1961 (for short ‘Act’), dated nil for A.Y. 2012-13.

2.

The assessee firm vide a letter dated 17th March, 2021 had stated that considering the low tax impact vis-a-vis cost of litigation involved in the present appeal and in order to buy peace of mind it seeks to withdraw the aforementioned appeal. It is further stated by the assessee that the withdrawal of the captioned appeal may not be considered as its acquiescence to any of the issues involved in the appeal. 3. The ld. Departmental Representative (for short ‘D.R’) did not object to the aforesaid request for withdrawal of the appeal so raised by the assessee.

2 M/s Nimble Investments Vs. ACIT-21(2)

4.

In the backdrop of the aforesaid facts, we herein allow the assessee appellant to withdraw the captioned appeal.

5.

Resultantly, the aforesaid appeal is dismissed as withdrawn.

Order pronounced in the open court on 22.03.2021

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