HINDOOSTAN MILLS LTD.,MUMBAI vs. PRINCIPAL COMMISSIONER OF INCOME TAX-2, MUMBAI

At the outset, the Counsel for the Assessee submits that in the assessment order passed u/s 143(3) r.w.s. 263 of the Act on 27.12.2016 giving effect to the Ld. Commissioner’s order u/s 263, the Assessing Officer on verifying the facts and making enquiries accepted the contentions of the Assessee and determined the loss at Rs.88,07,62,670/-to be carried forward u/s 72A of the Act which is the same figure as it was determined in the assessment order dated 14.03.2014 originally passed u/s 143(3) of the Act. Therefore, the counsel submits that the appeal filed by the Assessee against the order passed u/s 263 becomes infructuous and therefore submits that the Assessee wants to withdraw the present appeal to which the Ld. DR has no objection. Considering the submissions of the Assessee in the letter dated 08.03.2017 furnished before us by the counsel, the appeal of the Assessee is dismissed as withdrawn.

Sd/- Sd/- RAMIT KOCHAR C.N.PRASAD लेखा सदस्य / न्याधयक सदस्य / ACCOUNTANT MEMBER JUDICIAL MEMBER मुंबई / Mumbai; दिनाुंक / Dated 08/03/2017 LR, SPS