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Income Tax Appellate Tribunal, MUMBAI BENCH “C”, MUMBAI
Before: SHRI AMIT SHUKLA & SHRI RAJESH KUMAR
आदेश ORDER �ी अिमत शु�ला, �याियक सद�य PER AMIT SHUKLA, J.M.:
The aforesaid appeal has been filed by the assessee against impugned order dated 10.06.2014 passed by Ld. CIT(Appeals)-14, Mumbai for the assessment year 2010-11. A letter dated 4th October, 2016 signed by the Managing Director of the assessee- company, has been filed wherein, it has been stated that, the assessee-company wants to withdraw the appeal filed before this Tribunal. The letter reads as under:
2 PSL Ltd Mohit Rakesh Kumar Gupta ITA No. : 5095/Mum/2014 “The Income Tax Appellate Tribunal 4th Floor, OLC C.G.O. Building, 101, Maharshi Karve Marg, Mumbai -400 020 C-Bench Re: Appeal No.5095/Mum-2014 For AY 2010-11 Respected Sir, We refer to the Appeal No.5095/Mum-2014 filed against the Order passed by CIT, Mumbai. Due to depressed market condition for company’s product i.e. steel pipes the company has incurred heavy losses during the past six years. The Company had sought long-restructuring process from BIFR, New Delhi and it is in process. In this situation we feel that we may withdraw our appeals filed before ITAT and hence the following request We hereby withdraw our entire appeal for the assessment year 2010-11 filed against the order of CIT(A). We submit before the Hon’ble Tribunal our above request for necessary action.
Thanking you, Yours faithfully, For PSL Limited Sd/- (XXX) Managing Director”
The Ld. DR also did not have any objection.
Accordingly, the appeal of the assessee is dismissed as withdrawn. Order pronounced in the open court on 6th October, 2016. Sd/- Sd/- (RAJESH KUMAR) (अिमत शु�ला) लेखा सद�य �याईक सदस (राजेश कुमार) (AMIT SHUKLA) ACCOUNTANT MEMBER JUDICIAL MEMBER Mumbai, Date: 6th October, 2016.