GABRIEL INDIA LTD,MUMBAI vs. CIT 5, MUMBAI

At the outset, ld. AR of the assessee Mr. Prasad Bapat submitted a letter dated 20-1-2016 stating therein that in the consequential order passed u/s.143(3) r.w.s.263 of the Act, the AO has accepted assessee’s claim with regard to provisions of doubtful debts and excess remuneration paid to Managing Director which was subject matter of proceeding u/s.263 of the Act. Ld. AR also produced a copy of assessment order passed by the AO in pursuance to direction of CIT u/s.263 of the Act. He, therefore, submitted that the appeal of the assessee having become infructuous permitted to be withdrawn.

Ld. DR has no objection for withdrawal of the appeal by the assessee.

We have heard the parties and perused the material on record. On perusal of the assessment order passed u/s.143(3) r.w.s263 of the Act, dated 28-12-2015, it is noticed that the AO after verification has accepted assessee’s claim with regard to provision of doubtful debts and remuneration paid to the managing director and has completed the assessment accordingly. Therefore, the present appeal of the assessee against the order passed u/s.263 of the Act has become infructuous. Accordingly, the same is dismissed as withdrawn. 5. In the result, appeal of assessee is dismissed. Order pronounced in the open court on this 20/01/2016. Sd/- Sd/- (ASHWINI TANEJA) (SAKTIJIT DEY) ऱेखा सदस्य / ACCOUNTANT MEMBER न्यानयक सदस्य / JUDICIAL MEMBER भुंफई Mumbai; ददनांक Dated 20/01/2016 प्र.कु.मभ/pkm, नन.स/ PS आदेश की प्रनिलऱपप अग्रेपषि/Copy of the Order forwarded to : अऩीराथी / The Appellant 1. प्रत्मथी / The Respondent. 2. आमकय आमुक्त(अऩीर) / The CIT(A), Mumbai. 3. आमकय आमुक्त / CIT 4. ववबागीम प्रनतननधध, आमकय अऩीरीम अधधकयण, भुंफई / DR, ITAT, Mumbai 5. गार्ा पाईर / Guard file. 6. आदेशाि सार/ BY ORDER, सत्मावऩत प्रनत //True Copy//