FIDELITY MULTITRADE P.LTD,MUMBAI vs. ITO WD 1(1)(3), MUMBAI

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ITA 3114/MUM/2015Status: DisposedITAT Mumbai03 October 2016AY 2010-112 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The assessee company, through its Director, submitted a letter requesting permission to withdraw the appeal. The Tribunal, in view of this request, dismissed the appeal as withdrawn.

What were the facts?

The assessee company, M/s. Fidelity Multitrade P. Ltd., filed an appeal against an order passed under section 263 of the Income Tax Act for the Assessment Year 2010-11. The appeal was listed for hearing on October 3, 2016.

What were the issues?

The primary issue was the assessee's request to withdraw its appeal before the Tribunal. The Tribunal had to decide whether to grant this request.

Which sections of the Income-tax Act were involved?

Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, F Bench, Mumbai

Before: Shri Jason P. Boaz & Shri Sandeep Gosain

For Appellant: Shri Shriram Bajaj
For Respondent: Shri G.M. Doss
Hearing: 03.10.2016Pronounced: 03.10.2016

This appeal by the assessee is directed against the order passed under section 263 of the Income Tax Act, 1961 (in short, 'the Act') vide order dated 20.03.2015 for A.Y. 2010-11. 2. At the outset of hearing of the appeal today, the learned counsel for the assessee submitted a letter dated 03.10.2016 addressed to the Bench by the Director of the assessee company seeking permission to withdraw this appeal. This letter reads as under: - “October 3, 2016

The Hon'ble Members Income Tax Appellate Tribunal Mumbai Bench “F” Mumbai

Re: Fidelity Multitrade Pvt. Ltd. ITA No.: 3114/Mum/2015 (Assessment Year: 2010-11) Sub: Request for permission for withdrawal of appeal

M/s. Fidelity Multitrade P. Ltd. MAY IT PLEASE YOUR HONOURS

This has reference to the captioned appeal hearing of which is fixed before Your Honours on 03.10.2016. In this connection we, the appellant, crave leave of Your Honour for withdrawal of the said appeal.

Your Honours’ faithfully,

For Fidelity Multitrade Pvt. Ltd. Sd/- Director Appellant” 3. In view of the letter of the Director of assessee company (supra), we dismiss this appeal of the assessee for A.Y. 2010-11 (including the grounds raised

) as withdrawn.

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