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Income Tax Appellate Tribunal, MUMBAI BENCHES “E”, MUMBAI
Before: SHRI B.R.BASKARAN (AM) & SHRI RAM LAL NEGI (JM)
This appeal has been preferred by the assessee against order dated 24/10/2013 passed by the Ld. CIT(Appeals)-2 Mumbai for the Asst. Year 2010- 11, whereby the Ld. CIT(A) partly allowed the appeal filed by the assessee against assessment order passed u/s 143(3) of the Income Tax Act, 1961 (in short ‘the Act’).
At the outset, the Ld. Counsel for the assessee submitted an application duly signed by Shri. N.T. Kilachand, Managing Director, seeking permission to withdraw the present appeal, the relevant portion of which reads as under:-
“The appellant had deposited Rs. 60 crores as advance on without prejudice basis with the Directorate of Revenue intelligence (DRI). The appellant had claimed the said amount of Rs. 60 crores to be allowed in the event a view is taken by the Tax Department that the said amount so demanded is not allowable in the in which demand is raised, but in the year of payment.
The Assessing Officer has completed the Assessment Year 2012-13 allowing claim of the Appellant in the said year for the amount paid as per settlement commission order.”
The Ld. DR did not have any objection in allowing the application for withdrawal of the appeal.
In view of the written submission made by the appellant, the application is allowed and appeal of the assessee is dismissed as withdraw.