PUTTARAJU P. GOWDA,MUMBAI vs. DCIT 22(2), NAVI MUMBAI

आदेश / O R D E R Per Joginder Singh (Judicial Member) The assessee is aggrieved by the impugned order dated 23/08/2011 of the Ld. First Appellate Authority, Mumbai. The assessee has challenged the service of mandatory notice u/s 143(2) of the Income Tax Act, 1961 (hereinafter the Act) within prescribed time limit applicable for the Assessment Year in question and restricting the relief u/s 54F to the extent of LTCG of Rs.76,10,544/- and not allowing the full relief. 2. During hearing of this appeal, at the outset, the learned D.R., Ms. Mahua Sarkar, asserted that the impugned issue is covered against the assessee by the decision from Hon'ble jurisdictional High Court in the case of Humayun Suleman Merchant vs Chief Commissioner of Income Tax (ITA No.545 of 2002) order dated 18/08/2016. This assertion of ld. DR was not controverted by the ld. counsel for the assessee. In view of this factual matrix, the ld. counsel for the assessee, Shri Vallabh Das D. Parmar, requested the Bench to grant permission to withdraw the appeal filed by the assessee. The ld. DR had no objection to the request of the assessee.

2.1. Considering the request of the learned counsel for the assessee, permission is granted to the assessee to withdraw the appeal, therefore, the appeal of the assessee is dismissed as withdrawn. This order was pronounced in the open court in the presence of the ld. representatives from both sides at the conclusion of the hearing on 28/11/2016.