S.THALAVAIPANDIAN,CHENNAI vs. ACIT, CHENNAI

This appeal by the assessee is directed against the order passed by the CIT (A)-19, Chennai dated 30.12.2014 and it pertains to the assessment year 2003-04. Addition of ` 3,50,000/- made by the Assessing Officer and 2. confirmed by the CIT(A) is a subject matter of dispute before us. It was the case of the assessee before the tax authorities as well as before the Tribunal that ` 3,50,000/- was withdrawn from his business during the assessment year under appeal and the same money was reintroduced into business. No evidence whatsoever could be furnished to prove the same and, when pointed out, learned Authorized Representative submits that assessee may be permitted to withdraw his appeal.

Learned Departmental Representative has no objection in this matter.

In these circumstances, I dismiss the appeal filed by the assessee as withdrawn.