SHRI PREM SINGH RAJA,CHAMBA vs. PR.CIT, SHIMLA

During the course of hearing, the Ld. Counsel for the Assessee submitted that a consequential order has since been passed by the Assessing Officer in favour of the assessee, granting the relief sought. In light of the favourable outcome, the assessee no longer wishes to pursue the present appeal and, accordingly, seeks to withdraw the same and accordingly wishes to withdraw the present challenge under section 263 of the Act. It was submitted in case the Ld. Pr CIT wishes to initiate the fresh proceeding under section 263, same would be challenged before this Tribunal or any other Court in accordance with law.

The Ld. DR did not raise any objection to the withdrawal of the appeal.

In view of the above, and since the assessee has received the consequential relief, the appeal is dismissed as withdrawn, and liberty is granted as prayed for.

Accordingly, the appeal filed by the assessee stands dismissed as withdrawn.