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Facts
The assessee filed an appeal against the Commissioner of Income Tax (Exemption)'s order for AY 2024-25. During the hearing, the assessee's counsel submitted a petition to withdraw the appeal, as the CIT (Exemption) had subsequently granted approval in Form 10AD, which was earlier denied.
Held
The Tribunal allowed the assessee to withdraw the appeal, noting that the Commissioner of Income Tax (Exemption) had reversed his earlier denial and granted approval in Form 10AD. Consequently, the appeal was dismissed as withdrawn.
Key Issues
Whether the assessee should be permitted to withdraw an appeal after the Commissioner of Income Tax (Exemption) granted the previously denied approval in Form 10AD.
Sections Cited
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Income Tax Appellate Tribunal, COCHIN BENCH
Before: SHRI INTURI RAMA RAO, AM & SHRI SOUNDARARAJAN K., JM
O R D E R Per: Inturi Rama Rao, AM This appeal filed by the assessee is directed against the order of the Commissioner of Income Tax (Exemption), Kochi, dated 22.03.2024 for Assessment Year (AY) 2024-25.
When the matter was called on the learned counsel for the assessee submitted a petition for withdrawal of the appeal stating that the Commissioner of Income Tax (Exemption) granted approval
In the result, appeal filed by the assessee is dismissed as withdrawn. Order pronounced in the open court on 11th March, 2025.