Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, MUMBAI BENCH “B”, MUMBAI
Before: SHRI C.N. PRASAD, HONBLE & SHRI N.K. PRADHAN, HONBLE
O R D E R PER C.N. PRASAD 1. This appeal is filed by the assessee against the order of the Ld. Commissioner of Income Tax (Appeals)–17, Mumbai dated 20.11.2015 for the Assessment Year 2011-12.
Assessee has raised following grounds of appeal in its appeal: - “1. The Commissioner of Income-tax (Appeals) erred in upholding the disallowance of ₹.13,68,837/- out of the administrative expenses aggregating to ₹.1,44,08,808/-.
2. The commissioner of Income-tax (Appeals) erred in upholding addition of unexplained commission income of ₹.4,50,596/-.”.
(A.Y: 2011-12) M/s. Micropoint Computers Private Limited 3. Ld. Counsel for the assessee submitted that assessee filed letter dated 03rd April, 2018 requesting for withdrawal of appeal and requested to treat the appeal as withdrawn. Ld. DR has no serious objection in assessee withdrawing the appeal.
Heard both the parties. The assessee filed letter requesting for withdrawal of appeal stating as under: - “The Appellant has been issued a show cause notice dated 14 February 2018 for launching of prosecution under Section 276C(1) of the Income tax Act, 1961 for Assessment Year 2011-12. The Appellant, in order to buy peace of mind, intends to file a compounding application against the aforesaid show cause notice. As per the guidelines dated 23 December 2014 issued by the Central Board of Direct Taxes for compounding of offenses, one of the conditions for eligibility for compounding is that the person undertakes to withdraw appeal filed by him, in case the same has the bearing on offence sought to be compounded. The abovementioned show cause notice has been issued in relation to the matters which the Appellant has contested in the subject appeal.
In view of the foregoing the Appellant would like to withdraw the subject appeal.” 5. In view of the above submissions of the assessee, we dismiss this appeal as withdrawn.
Order pronounced in the open court on the 05th June, 2018.