MESERS TIRUMALA BALAJI ALLOYS PRIVATE LIMITED,RAIGARH vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE1(1), BILASPUR

The present appeal filed by the assessee is directed against the order passed by the CIT(Appeal), Bilaspur (C.G.), dated 02.04.2018, which in turn arises from the order passed by the A.O under Sec. 143(3) of the Income Tax Act, 1961 (for short ‘the Act’), dated 20.02.2015 for assessment year 2012-13.

At the very outset of hearing of appeal, it was submitted by the Ld. Authorized Representative (for short ‘AR’) for the assessee that the assessee seeks to withdraw the present appeal. Elaborating on the reasons for seeking of withdrawal of appeal, it was submitted by the Ld. AR that the assessee pursuant to search conducted on its group, had filed an application before the Income Tax Settlement Commission (ITSC) wherein, in the aforesaid application for the year under consideration the disputed addition was accepted by it. Backed by his aforesaid facts, it was submitted by the Ld. AR that captioned appeal pending for adjudication before the Tribunal had been rendered as infructuous. Accordingly, the assessee had requested for withdrawal of the captioned appeal.

Per contra, the Ld. Departmental Representative (for short ‘DR’) did not raise any objection to the seeking of the withdrawal of the appeal by the assessee.

After considering the aforesaid facts, we herein permit to withdraw the appeal as requested by the assessee/ appellant.

In the result, appeal filed by the assessee is dismissed as withdrawn. Order pronounced in open court on 25th day of May, 2022.