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Income Tax Appellate Tribunal, ‘ D’ BENCH : CHENNAI
Before: SHRI CHANDRA POOJARI & SHRI G.PAVAN KUMAR
आदेश / O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER
This appeal of the assessee is directed against the order of the Commissioner of Income-tax, Trichy passed u/s.263 of the Act dated 27.03.2015 pertaining to assessment year 2010-11.
In this case, the original assessment was completed u/s.143(3) of the Act on 31.12.2012 wherein the AO made addition of `8.23 lakhs towards interest paid by the assessee which are not relating to the business. The ld. CIT issued notice u/s.263 of the Act on16.05.2013. According to the Commissioner of Income Tax, the AO had not carried
ITA No.1142/Mds./2015 :- 2 -: on requisite enquiry before the completion of the assessment, as such the assessment order is erroneous and prejudicial to the interest of Revenue. Accordingly, Ld.CIT set aside the assessment order with a direction to redo the same after affording sufficient opportunity of being heard. Aggrieved, the assessee is in appeal before us.
At the time of hearing, ld.A.R filed a letter dated 14.06.2016 stating that assessee in this case has not interested in prosecuting this appeal and has sought permission from the Bench to withdraw the appeal. Considering the plea of assessee’s counsel, we are inclined to permit the assessee to withdraw the appeal. Accordingly, this appeal is dismissed as withdrawn.
In the result, the appeal of the assessee is dismissed.
Order pronounced in the open court on 17th June, 2016, at Chennai.