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Income Tax Appellate Tribunal, “C” BENCH, MUMBAI
Before: SHRI MAHAVIR SINGH & SHRI S. RIFAUR RAHMAN
O R D E R Per Mahavir Singh, VP: These appeals by the assessee are arising out of the order of the Commissioner of Income Tax (Appeals)-6, Mumbai (‘CIT(A)’ for short) in appeal no. CIT(A)-6/IT- 61/116/2016-17 vide order dated 03.10.2017. The assessment was framed by the ACIT, Circle-1(1), Mumbai u/s. 143(3) of the Income Tax Act, 1961 (‘the Act’ hereinafter) for the assessment years (A.Y.) 2009-10 and 2010-11.
At the outset, the ld. Counsel of the assessee stated that the assessee has filed letter dated 03.03.2021, wherein both the appeals the assessee want to withdraw. The relevant text of the identical letter reads as under:
2 & 7440/Mum/2017 (Assessment Years: 2009-10 & 2010-11) International Cargo Terminals & Rail Infrastructure Pvt. Ltd. vs. Asst. CIT Out above appeal is fixed for hearing on 18.03.2021 before ‘C’ Bench. This appeal was filed to contest the disallowance on account of forex loss for A.Y. 2009-10. Since the matter is very old and in order to buy peace of mind and avoid protracted litigations, we have decided to withdraw the appeal. There would be no tax demand or liability due to the withdrawal of the appeal on account of assessed losses. We request your honour to allow us to withdraw above appeal.
Similar is the letter for the A.Y. 2010-11 in ITA No. 7440/Mum/2017.
Since the assessee want to withdraw these appeals, the ld. Sr. DR was asked for his response. The ld. Sr. DR has not objected to withdraw of these appeals. Hence, we permit the withdrawal and dismiss the appeals as withdrawn.
In the result, the assessee’s appeals are dismissed as withdrawn. Order pronounced in the open court on 18.03.2021. Sd/- Sd/- (S. Rifaur Rahman) (Mahavir Singh) Accountant Member Vice President Mumbai; Dated : 18.03.2021 Roshani, Sr. PS Copy of the Order forwarded to : 1. The Appellant 2. The Respondent 3. The CIT(A) 4. CIT - concerned 5. DR, ITAT, Mumbai 6. Guard File BY ORDER,