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Income Tax Appellate Tribunal, MUMBAI BENCHES “H”, MUMBAI
Before: SHRI R.C. SHARMA (AM) & SHRI RAM LAL NEGI (JM)
O R D E R
PER RAM LAL NEGI, JM
This appeal has been filed by the assessee against order dated 19/10/2016 passed by the Ld. Commissioner of Income Tax (Appeals)-14, Mumbai, for the assessment year 2012-13, whereby the Ld. CIT (A) has dismissed the appeal filed by the assessee against assessment order passed u/s 143(3) of the Income Tax Act, 1961 (for short ‘the Act’).
The assessee has preferred this appeal before the Tribunal by raising the following effective grounds:-
1. “On the facts and circumstance of the case and in the Law, the Learned Commissioner of Income Tax (Appeals) (hereinafter “the Ld. CIT (A) erred in upholding the action of the Learned Assessing Officer (hereinafter “the AO”) of rejecting the method ofcomputation of disallowance u/s 14A of the Income-tax Act, 1961 (hereinafter “the Act”) adopted by the Appellant, without 2 Assessment Year: 2012-13 recording his dissatisfaction as required under section 14A (2) of the Act.
2. On the facts and circumstance of the case and in law, the Ld. CIT (A) erred in upholding the action of the Learned Assessing Officer (hereinafter “the LAO”) of re-computing the disallowance u/s 14A at Rs. 2,53,955 as against Rs. 1,92,344 computed by the Appellant by not considering the contention of the Appellant that the expenses for disallowance under section 14A be apportioned on the basis of taxable income to non-taxable income.”
This appeal was fixed for hearing for today. Shri A.Y. Joshi, Director, Reynold Trader Pvt. Ltd. had submitted the application dated 06.11.2017 for permission to withdraw the appeal on the ground that the AO has rectified the assessment order passed u/s 143 (3) of the Act vide order dated 23/10/2015 passed u/s 154 of the Act and the company has paid the total outstanding tax amounting to Rs. 23,110/- on 31/08/2017.
The Ld. Departmental Representative submitted that the department has no objection in case the application for withdrawal of the appeal is allowed. In view of the written submissions made by Shri A.Y. Joshi, we allow the application and dismiss the appeal as withdrawn.