SKYLINE CONSTRUCTION & HOUSING PVT. LTD.,BANGALORE vs. DCIT, BANGALORE

These appeals are preferred by the assessee against the order of CIT(Appeals) inter alia on the common grounds. The grounds of appeal in is extracted hereunder for the sake of reference:-

The search purportedly U/s 132 and all proceedings connected therewith and subsequent to, is against the law and requires to be vacated as such.

The additions made in the assessment cannot be termed as undisclosed income and hence requires to be vacated as such.

The notice and order of assessment is bad in law and is also barred by limitation.

The Learned Authorities below erred in not considering the claim for deduction u/s 80IB(10) for City Tower Block amounting to Rs. 87,86,466/-.

The Learned Authorities below erred in not allowing the entire deduction as claimed u/s 80IB(10) of the Act.

The appellant denies the liabilities for interest u/s 234A, 234B and 234C. No opportunity has been given before levy of interest. Further prays that the interest should be levied only on returned income.

Without prejudice to the appellant's right of seeking waiver before appropriate authority the appellant begs for consequential relief in the levy of interest V/s 234A, 234B and 234C.

For the above and other grounds and reasons which may be submitted during the course of hearing of this appeal, the assessee requests that the appeal be allowed as prayed and justice be rendered.”

During the course of hearing of appeal, the ld. counsel for the assessee has moved an application for withdrawal of the appeals, to which the revenue has no objection. Accordingly, the appeals filed by the assessee are dismissed as withdrawn.