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Income Tax Appellate Tribunal, “C’’ BENCH: BANGALORE
Before: SHRI N.V. VASUDEVAN & SHRI CHANDRA POOJARI
PER CHANDRA POOJARI, ACCOUNTANT MEMBER:
The assessee has filed this appeal challenging the order dated 17.07.2018 passed by Ld CIT(A)-3, Bengaluru and it relates to the assessment year 2005-06. 2. At the time of hearing, Ld. A.R. drew our attention to the letter dated 21.12.2020, wherein he has submitted that the share holding of the assessee was changed during the assessment year 2010-11,
Inteva Products India Automotive Pvt. Ltd., Bangalore Page 2 of 2 accordingly carried forward losses of the assessee are lapsed in the A.Y. 2010-11. The appeal under consideration i.e. for AY 2005-06, would become academic as the adjustment made by the Ld. TPO during AY 2005-06 would be absorbed by the losses available to the assessee. Even if the appeal is decided in favour of the assessee, the losses would get lapsed and hence, the appeal would become academic in nature. Accordingly, prayed that the appeal may be dismissed as withdrawn. Keeping in view of the request made by the assessee, the appeal is hereby dismissed as withdrawn.
In the result, the appeal filed by the assessee is dismissed. Order pronounced in the open court on 22nd Dec, 2020.