EMIRATES,MUMBAI vs. DCIT (INTERNATIONAL TAX), CIRCLE-2(2)(1), MUMBAI, MUMBAI

PER NARENDRA KUMAR BILLAIYA, AM:

This appeal by assessee is preferred against the order dated 31/10/2023, framed u/s 143(3) r.w.s. 144C(13) of the Act pertaining to AY 2021-22. 2. The assessee moved an application dt. 17/07/2024 which interalia reads as under:- “……….. The Appellant would like to submit that it believes it has a good case on merits on various propositions challenging the action of the Ld. DCIT on Article 3 of the UAE DTAA and also, on Article 5 and Article 7 of India-UAE DTAA. However, the tax effect on the issues involved is just Rs. 2.67 lakhs in total. In order to buy peace of mind and considering the relative smallness of the amounts involved, the Appellant has decided to withdraw the captioned appeal filed before the Hon'ble Tribunal against the final assessment order.

Be that as it may, it is most humbly submitted that the withdrawing of the captioned appeal should not be construed as an acceptance of the order of the Ld. DCIT on the merits of the issue. The Appellant reserves its right to litigate on similar issues in case of any other assessment year or proceedings should the need arise. The withdrawal of the appeal shall neither be considered as acceptance of the claim/ order nor be treated as precedence against the Appellant.

In view of the above, we request Your Honours to kindly permit us to withdraw the appeal filed by us.

We trust Your Honours will accede to our request and oblige.

Thanking You,

Yours faithfully, For Emirates Authorised Signatory CC: The learned Departmental Representative 'I' Bench.”