M/S G.G. CONTINENTAL TRADERS PRIVATE LIMITED,BATHINDA vs. PRINCIPAL COMMISSIONER OF INCOME TAX -1, AMRITSAR

The captioned appeal has been filed by the assessee against the order of the Ld. Pr. Commissioner of Income-Tax-1, (hereinafter referred to as ‘the PCIT’), Amritsar dated 24/03/2022 in respect of Assessment Year 2015-16 passed under section 263 of the Income Tax Act, 1961.

At the outset the Ld. Counsel for the Assessee submitted that the assessee wish to withdraw the appeal filed against the order under section 263 of the Act, passed by the Ld. PCIT, Amritsar stating therein that the issue raised under section 263 by the Ld. PCIT has been decided in favour of the assessee in the consequential order passed under section 143(3) r.w.s 263 and the Assessing Officer has granted relief after verification.

The Ld. DR has no objection to the request of the assessee.

Accordingly, the assessee has been permitted to withdraw the present appeal.

In the result, the appeal of the assessee is dismissed as withdrawn.