MADHYA BHARAT POWER CORPORATION LTD..,RAIPUR vs. PRINCIPAL COMMISSIONER OF INCOME TAX, RAIPUR-1, RAIPUR

The present appeal filed by the assessee is directed against the order passed by the Pr. Commissioner of Income Tax, Raipur-1 u/s.263 of the Income Tax Act, 1961 ( in short ‘the Act’) dated 08.03.2022, which in turn arises from the order passed by the A.O under Sec.143(3) of the Income-tax Act, 1961 (in short ‘the Act’) dated 27.12.2019 for the assessment year 2017-18.

The assessee appellant has filed a letter dated 15.03.2023 wherein he has sought liberty for withdrawing the present appeal for the reason that pursuant to the order passed by the Pr. CIT u/s.263 of the Act, the A.O in the consequential order passed u/s.143(3) r.w.s. 263 of the Act dated 09.03.2023 had accepted the returned income and not made any addition. On the basis of the aforesaid facts the assessee has sought permission to withdraw the captioned appeal.

The Ld. Departmental Representative (for short ‘DR’) did not raise any objection to the seeking of the withdrawal by the assessee appellant.

Considering the aforesaid factual position, we herein permit the withdrawal of the captioned appeal.

In the result, the appeal of the assessee is dismissed as withdrawn. Order pronounced in open Court on 10th day of April, 2023.