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Facts
The assessee, Colorcon Asia Pvt Limited, filed two appeals before the ITAT Panaji Bench against separate orders of the National Faceless Appeal Centre (NFAC)/CIT(A) pertaining to AY 2017-18 and 2018-19. Prior to the hearing, the assessee submitted letters formally withdrawing both appeals.
Held
The Income Tax Appellate Tribunal (ITAT) noted the assessee's formal withdrawal of the appeals and the Revenue's lack of objection. Consequently, the Tribunal treated the appeals as withdrawn and proceeded to dismiss them.
Key Issues
Maintainability of appeals after the assessee's formal withdrawal.
Sections Cited
Section 250 of the Income Tax Act
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Income Tax Appellate Tribunal, PANAJI BENCH PANAJI
Before: SHRI PAVAN KUMAR GADALE & SHRI G D PADMAHSHALI
सुनवाई क� तार�ख/Date of Hearing 01.01.2025 घोषणा क� तार�ख/Date of Pronouncement 01.01.2025 ORDER PER BENCH: These two appeals are filed by the assesse against the separate orders of the National Faceless Appeal Centre (NFAC), Delhi / (CIT(A) passed u/sec 250 of the Act.
At the time of hearing, it was brought to the knowledge, that the assesse has filed separate letters on 23-12-2024 mentioning the withdrawal of the above appeals filed before the Hon’ble Tribunal and the Ld. DR has no Order pronounced in the open court on 01.01.2025.