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Facts
The assessee filed an appeal against an order passed by the Principal Commissioner of Income-tax under Section 263 of the Income-tax Act for the assessment year 2011-12. During the hearing, the assessee's counsel informed the tribunal that the assessee no longer wished to pursue the appeal and had filed an application for its withdrawal.
Held
The Departmental Representative raised no objection to the assessee's request for withdrawal. The tribunal granted permission to the assessee to withdraw the appeal, and as a consequence, the appeal was dismissed as withdrawn.
Key Issues
Whether the assessee's request to withdraw an appeal filed against an order under Section 263 of the Income-tax Act should be permitted.
Sections Cited
263
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Income Tax Appellate Tribunal, DELHI BENCH “B”: NEW DELHI
Before: SHRI KUL BHARAT & SHRI PRADIP KUMAR KEDIA
O R D E R PER KUL BHARAT, JM:
This appeal, by the assessee, is directed against the order of the learned Principal Commissioner of Income-tax, Karnal, dated 11.02.2016, passed u/s 263 of the Income-tax Act, 1961 (the “Act”), pertaining to the assessment year 2011- 12.
At the outset learned counsel for the assessee submitted that the assessee is not interested in pursuing the present appeal and has instructed to withdraw the appeal. Learned counsel, accordingly, prayed for permission to withdraw the present appeal. He has also filed an application dated 21.03.2021 to this effect.
Learned DR raised no objection to the request of the assessee for withdrawal of the appeal. Accordingly, assessee is permitted to withdraw the appeal. Consequently, appeal of the assessee stands dismissed as withdrawn.
Order pronounced in open court on 21.03.2024.