SANDOZ INDIA LTD ( NOW MERGED WITH CLARIANT CHEMICALS (I) LTD),MUMBAI vs. ACIT RG 1(1), MUMBAI

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ITA 4279/MUM/2011Status: DisposedITAT Mumbai12 July 2018AY 1987-883 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal allowed the assessee's request to withdraw the appeal. Consequently, the appeal was dismissed as withdrawn.

What were the facts?

The assessee filed an appeal against a penalty order under section 271(1)(c) for the assessment year 1987-88. The assessee subsequently requested to withdraw the appeal.

What were the issues?

The primary issue was whether the assessee's appeal should be allowed to be withdrawn.

Which sections of the Income-tax Act were involved?

Section 271(1)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “E” BENCH, MUMBAI

Before: SHRI SAKTIJIT DEY & SHRI RAMIT KOCHAR

For Appellant: Shri Sanjiv M. Shah
For Respondent: Shri V. Justin

This is an appeal by the assessee against order dated 8th February 2011, passed by the learned Commissioner (Appeals)–1, Mumbai, confirming the penalty imposed of ` 29,77,198, under section 271(1)(c) of the Income Tax Act, 1961 (for short “the Act”) for the assessment year 1987–88.

2.

When the appeal was called for hearing, the learned Counsel for the assessee submitted that the assessee does not want to pursue the appeal, hence, permitted to withdraw the same. In this context, the learned Counsel

2 M/s. Sandoz India Ltd. also furnished letter dated 11th July 2018, signed by Shri Sanjay Ghatge, Chief Financial Officer, of the assessee company, the contents of which are as under:– “11 July 2018 The Hon'ble Members, E' Bench, Income Tax Appellate Tribunal Mumbai Dear Sir, M/s. Sandoz India Limited (now known as Clariant Chemicals (I) Limited) Assessment Year 1987-88 The above mentioned Appeal has been fixed for hearing on 12 July 2018 before the Hon'ble Members of 'E' Bench. With regards to the above mentioned appeal, we hereby wish to withdraw the said appeal. We therefore request Your Honour to withdraw the aforesaid appeal. Thanking You, Yours faithfully For Clariant Chemicals India Limited Sd/– Authorised Signatory Mr. Sanjay Ghatge (Chief Financial Officer)”

3.

The learned Departmental Representative has no objection to withdrawal of the appeal by the assessee. In view of the aforesaid, we allow withdrawal of the appeal by the assessee. Consequently, the appeal is dismissed as withdrawn.

3 M/s. Sandoz India Ltd.

4.

In the result, assessee’s appeal is dismissed. Order pronounced in the open Court on 12.07.2018

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