M/S MALIKS COMPANY,FEROZPUR CANTT vs. PR. COMM. OF INCOME TAX, BATINDA

Per Sanjay Arora, AM: This is an Appeal by the Assessee agitating the Order by the Principal Commissioner of Income Tax, Bathinda (‘Pr. CIT' for short) dated 29.03.2017, passed under section 263 of the Income Tax Act, 1961 ('the Act' hereinafter) in the assessee’s case for Assessment Year (AY) 2012-13. 2. None appeared for and behalf of the assessee when the appeal was called out for hearing. The ld. counsel for the assessee, Shri Y. K. Sud, however, has made a written request dated 23.03.2018 for the withdrawal of the instant appeal. It is explained that the impugned order has since been acted upon by the Assessing Officer, passing a fresh order u/s. 143(3) read with section 263 of the Act by 2 ITA No. 221 (Asr)/2017(AY 2012-13) Maliks Co. v. Pr. CIT making a small addition, and which has been accepted by the assessee. Under the circumstances, therefore the assessee is not interested in prosecuting its appeal and, accordingly, wishes to withdrawn the same. The ld. CIT-DR was, on being conveyed about the subject matter of the assessee’s request, conveyed his no objection to the assessee withdrawing its’ appeal. We, therefore, acceding to the assessee’s request, permit it to withdraw its appeal. The assessee’s appeal is dismissed in limine.