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Income Tax Appellate Tribunal, “E” BENCH, MUMBAI
Before: SHRI SAKTIJIT DEY & SHRI RAMIT KOCHAR
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.
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)”
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 Consequently, the appeal is dismissed as withdrawn.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.
In the result, assessee’s appeal is dismissed. Order pronounced in the open Court on 12.07.2018