UNIMARK REMEDIES LTD,MUMBAI vs. DCIT CEN CIR 45, MUMBAI

This appeal by the assessee is directed against the order of the CIT(A)- 38, Mumbai dated 25.03.2014 for A.Y. 2009-10 dismissing its appeal and thereby upholding the order of assessment passed under section 143(3) of the Income Tax Act, 1961 (in short 'the Act') dated 16.12.2011. 2. The grounds raised by the assessee in this appeal are as under: - “1. On the facts and in the circumstances of the case and in law, the Learned CIT(A) erred in confirming the action of the Assessing Officer in marking an addition of Rs.1,67,64,322/- by invoking provisions of section 50C of the Income Tax Act, 1961.

2. On the facts and in the circumstances of the case and in law, the Learned CIT(A) erred in confirming the action of the Assessing Officer erred in disallowing depreciation on non- factory building amounting to Rs.3,18,632/-.

3. The Appellant craves leaves to add, to amend, alter, modify and/or withdraw any or all of the above grounds of appeal, each of which are without prejudice to one another.”

M/s. Unimark Remedies Ltd. 3. At the outset of the hearing in this case, it was brought to the notice of the Bench by the counsel for the assessee that the assessee company seeks to withdraw this appeal. A letter dated 04.11.2016 signed by the Director of the assessee company in this regard has been placed on record the contents of which is extracted hereunder: - Date – 04-11-2016 To The Dy Registrar Income Tax Appellate Tribunal Mumbai – 400020 Sir, BEFORE HON’BLE ‘F’ ON 07-11.2016 Reg:- Unimark Remedies Limited Sub-: Application for withdrawal to appeal With Reference to the above we request your honour to permit the appellant to withdraw the above appeal filed before this Hon'ble Tribunal. Your Honour’s kind co-operation in the above matter will highly appreciated. Thanking you, Yours faithfully, For – UNIMARK Remedies Limited Sd/- Director”