KRUGER M & E INDUSTRIES (I) P.LTD,MUMBAI vs. DCIT (OSD) RG 8(2), MUMBAI

During the course of proceedings before the Bench the learned A.R. of the assessee filed a letter dated 04.04.2017 seeking permission for withdrawal of this appeal. The aforesaid letter dated 04.04.2017 is extracted hereunder: - “04.O4.2017 To The Registrar, The Income Tax Appellate Tribunal K Bench -Mumbai Respected Sir, Sub: Withdrawal of Appeal Re: KRUGER M & E INDUSTRIES (INDIA) PRIVATE LIMITED PAN: AAACK3871G APPEAL NO : 3706/Mum-2015 Assessment Year: 2007-08 Kruger M&E Industries (I) P. Ltd Date of hearing: Regarding the above, as per the instructions received from our above- named client, we are submitting herewith an application for withdrawal of the above said appeal. The application is already made to the Deputy Commissioner of Income Tax-10(11((32) intimating decision to withdraw the appeal. As the appellant company intend to close the business and commence the winding up procedure as the company is incurring losses since last six years. Under the above circumstances, we request your honor to kindly withdraw the appeal Thanking You, Yours respectfully For Dayakar & Co Chartered Accountants Sd/- D.A. Shetty Proprietor”

In view of the assessee’s letter dated 04.04.2017 seeking withdrawal of this appeal, we permit withdrawal of the same and dismiss the appeal as withdrawn.