Assessee is allowed to withdraw before any decision made

Last updated: 09 November 2012

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Court :
INCOME TAX APPELLATE TRIBUNAL

Brief :
At the time of hearing, ld A.R. submitted that assessee be allowed to withdraw his appeal. Learned D.R submitted that he has no objection to accept the prayer of ld A.R. In view of submissions of ld representatives of parties, we accept assessee’s prayer to withdraw the appeal.

Citation :
Amit Pandya, 165, Parekh Nagar, S.V. Road, Kandivali(W), Mumbai-67 PA No.AFVPP 0474 K (Appellant) Vs. ACIT 25(3), Pratyakshakar Bhavan, Bandra Kurla Complex, Bandra (E), Mumbai(Respondent)

IN THE INCOME TAX APPELLATE TRIBUNAL,

MUMBAI BENCH ‘A’ BENCH

BEFORE SHRI B.R.MITTAL(JUDICIAL MEMBER) AND

SHRI B.RAMAKOTAIAH (ACCOUNTANT MEMBER)

ITA No.5213/Mum/2009

Assessment Year: 2005-06

Amit Pandya,

165, Parekh Nagar, S.V. Road,

Kandivali(W),

Mumbai-67

PA No.AFVPP 0474 K

(Appellant)

Vs.

ACIT 25(3),

Pratyakshakar Bhavan, Bandra Kurla

Complex, Bandra (E), Mumbai

(Respondent)

Appellant by: Shri Pradeep Sagar

Respondent by: Shri T.D.Singh

Date of hearing: 23.8.2012

Date of pronouncement: 5 .9.2012

ORDER

Per B.R.Mittal, JM:

The assessee has filed this appeal for assessment year 2005-06 against order dated 8.5.2009 of ld CIT(A)-XXV, Mumbai on following grounds:

“1. The ld CIT(A) erred in confirming assessment of income earned by the appellant from sale of shares held as investment and returned under the head “short term gain” as profits and gains of business.

2. The ld CIT(A) erred in directing the assessing authority to proportionally apportion establishment expenses on bonus shares as per the provisions of the Act.”

2. At the time of hearing, ld A.R. submitted that assessee be allowed to withdraw his appeal. Learned D.R submitted that he has no objection to accept the prayer of ld A.R. In view of submissions of ld representatives of parties, we accept assessee’s prayer to withdraw the appeal.

3. In the result, appeal filed by the assessee is dismissed as withdrawn.

Pronounced in the open court on 5th September, 2012

Sd/- Sd/-

(B.RAMAKOTAIAH) (B.R. MITTAL)

Accountant Member Judicial Member

Mumbai, Dated 5th September, 2012

Parida

Copy to:

1. The appellant

2. The respondent

3. Commissioner of Income Tax (Appeals),XXV, Mumbai

4. Commissioner of Income Tax, City-25, Mumbai