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Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN
M/s. Synthite Industires P. Ltd. vs DCIT, Corporate circle 2(1) C/o. Elias George & Co., Cas CR Building, IS Press Road EGC House, HIG Avenue Kochi 682011 Ghandi Nagar, Kochi 682020 PAN – AADCS5616E (Appellant) (Respondent) Assessee by: Shri Thomson Thomas, CA Revenue by: Smt. J.M. Jamuna Devi, Sr. DR Date of hearing: 02.03.2023 Date of pronouncement: 02.03.2023 O R D E R Per: George George K., J.M. This appeal at the instance of the assessee is directed against the order of the Principal Commissioner of Income Tax, Kochi-1, dated 08-03.2021 passed under Section 263 of the Income Tax Act, 1961 (the Act). The relevant assessment year is 2016-17.
During the course of hearing the learned A.R. moved an application for withdrawing the appeal stating that the Assessing Officer has already passed the order giving effect to the directions of the PCIT. The assessee had filed a writ petition before the Hon'ble High Court of Kerala against the order passed by the Assessing Officer. The Hon'ble High Court has, vide order dated 10th February, 2023 in WP(C) No. 12756 of 2022, set aside the order passed by the M/s. Synthite Industires P. Ltd. Assessing Officer with direction to redo the assessment. In view of the above facts the assessee prayed for withdrawal of the appeal.
The learned D.R. did not raise any objection.
In view of the above facts and considering the prayer of the assessee we dismiss the appeal filed by the assessee as withdrawn. Order pronounced in the open Court on 2nd March, 2023.