IN THE INCOME TAX APPELLATE TRIBUNAL 'F' BENCH, MUMBAI BEFORE SHRI JASON P. BOAZ, ACCOUNTANT MEMBER AND SHRI SANDEEP GOSAIN , JUDICIAL MEMBER ITA NO. 1632/MUM/2015 (ASSESSMENT YEAR: 2011-12) VITKOVICE HEAVY MACHINERY A.S. VS. DCIT (INTERNATIONAL TAXATION) 4(3)(1) C.O. MZSK & ASSOCIATES LEVEL 9, THE RUBY, NORTH WEST WING, SENAPATI BAPAT ROAD DADAR (W), MUMBAI 400028 ROOM NO. 116, FIRST FLOOR SCINDIA HOUSE, N.M. ROAD BALLARD ESTATE, MUMBAI 400038 PAN AADCV2727K APPELLANT RESPONDENT APPELLANT BY: SHRI BHAVIN SHAH RESPONDENT BY: SHRI C.V. CHANDRA DATE OF HEARING: 08.11.2016 DATE OF PRONOUNCEMENT: 08.11.2016 O R D E R PER JASON P. BOAZ, A.M. THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF ASSESSMENT PASSED UNDER SECTION 144C(13) R.W.S. 143(3) OF THE INCOME TAX ACT, 1961 (IN SHORT 'THE ACT') IN PURSUANCE OF THE DIRECTIONS OF THE DISPUTE RESOLUTION PANEL II, MUMBAI ISSUED UNDER SECTION 144C(5) OF THE ACT ON 23.12.2014. 2. IN THIS APPEAL THE ASSESSEE HAS RAISED THE FOLLOWIN G GROUNDS: - GROUND NO. 1: ON THE FACTS AND CIRCUMSTANCES OF TH E CASE, THE LEARNED ASSESSING OFFICER (AO), WHILE GIVING EFFECT TO TH E DIRECTIONS ISSUED BY THE HONOURABLE DRP, HAS ERRED IN COMPUTING THE TAXA BLE INCOME OF THE APPELLANT COMPANY AT RS.55,15,418 AS AGAINST RS.11, 86,560 DISCLOSED IN THE RETURN OF INCOME FILED BY THE APPE LLANT COMPANY. THE APPELLANT COMPANY CRAVES LEAVE TO ADD, ALTER, S UPPLEMENT, AMEND, VARY, WITHDRAW OR OTHERWISE MODIFY THE GROUN D MENTIONED HEREIN ABOVE AT OR BEFORE THE TIME OF HEARING. 3. IN THE COURSE APPELLATE PROCEEDINGS, THE ASSESSEE F ILED LETTER DATED 08.11.2016 BEFORE THE BENCH IN WHICH IT IS SUBMITTE D THAT THE ASSESSEE COMPANY HAS RECEIVED THE NECESSARY RELIEF FROM THE ASSESSING OFFICER (AO) ITA NO. 1632/MUM/2015 VITKOVICE HEAVY MACHINERY A.S. 2 VIDE ORDER UNDER SECTION 154 OF THE ACT DATED 09.06 .2015 AND THEREFORE THE CAPTIONED APPEAL AND GROUND RAISED (SUPRA) BECOMING INFRUCTUOUS, THE ASSESSEE DESIRES TO WITHDRAW THIS APPEAL. THE CONTE NTS OF THE LETTER DATED 08.11.2016 OF THE ASSESSEE (SUPRA) FILED BEFORE US IS EXTRACTED HEREUNDER: - NOVEMBER 8, 2016 TO HON'BTE MEMBERS, INCOME TAX APPELLATE TRIBUNAL, BENCH 'F, MUMBAI RE: VITKOVICE HEAVY MACHINERY A.S. ('APPELLANT COMP ANY') ASSESSMENT YEAR ('AY'): 2011-12 PAN: AADCV2727K APPEAL NO: 16321MUM12015 SUB: NON-PRESSING OF GROUND OF APPEAL WITH REFERENCE TO THE CAPTIONED SUBJECT AND APPEAL, THE APPELLANT COMPANY WISHES TO SUBMIT AS UNDER: THE APPELLANT COMPANY IS IN RECEIPT OF AN ACKNOWLED GEMENT-CUM-NOTICE (PHOTOCOPY OF THE SAID NOTICE HAS BEEN ENCLOSED AS ANNEXURE 1), SCHEDULING THE FIRST HEARING BEFORE YOUR HONOUR ON NOVEMBER 8, 2016. IN THIS REGARD, THE APPELLANT COMPANY SUBMIT THAT T HE SOLE GROUND INVOLVED IN CAPTIONED APPEAL IS IN RELATION TO ERRO R IN COMPUTING TAXABLE INCOME BY THE LEARNED DEPUTY COMMISSIONER O F INCOME-TAX, INTERNATIONAL TAXATION - 4(3)(1) ('AO') AFTER RECEI VING THE NECESSARY DIRECTIONS FROM THE DISPUTE RESOLUTION PANEL - II ( 'DRP'). SUBSEQUENTLY, THE APPELLANT COMPANY HAS RECEIVED AN ORDER DATED JUNE 9, 2015 (PHOTO COPY OF THE SAID ORDER HAS BEEN ENCLOSED AS ANNEXURE 2) UNDER SECTION 154 OF THE INCOME TAX ACT , 1961 WHEREIN THE ABOVE-MENTIONED ERROR HAS BEEN RECTIFIED BY THE LEARNED AO. IN VIEW OF THE FACT THAT SUBSEQUENTLY THE APPELLANT COMPANY HAS RECEIVED THE NECESSARY RELIEF FROM THE LEARNED AO, THE GROUND RAISED IN THE CAPTIONED APPEAL BECOMES INFRUCTUOUS. ACCORD INGLY, THE APPELLANT COMPANY DESIRES NOT TO PRESS THE GROUND A ND CAPTIONED THE APPEAL MAY BE KINDLY WITHDRAWN. WE REQUEST YOUR HONOUR TO TAKE THE ABOVE ON RECORD AND OBLIGE. THANKING YOU, YOURS SINCERELY FOR VITKOVICE HEAVY MACHINERY A.S. SD/- SD/- JAN GAJADA JIRI BROZ VICECHAIRMAN OF THE BOARD MEMBER OF THE BOARD VITKOVICE HEAVY MACHINERY A.S. VITKOVICE HEAVY MACH INERY A.S. ITA NO. 1632/MUM/2015 VITKOVICE HEAVY MACHINERY A.S. 3 4. IN VIEW OF THE ASSESSEES LETTER DATED 08.11.2016 ( SUPRA) SEEKING TO WITHDRAW THIS APPEAL FOR THE REASONS CITED THEREIN, THE GROUNDS RAISED BY THE ASSESSEE ARE RENDERED INFRUCTUOUS AND CONSEQUEN TLY THE APPEAL IS DISMISSED AS WITHDRAWN. 5. IN THE RESULT, THE ASSESSEES APPEAL FOR A.Y. 2011- 12 IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 8 TH NOVEMBER, 2016. SD/ - SD/ - (SANDEEP GOSAIN) (JASON P. BOAZ) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI, DATED: 8 TH NOVEMBER, 2016 COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE DRP-II, MUMBAI 4. THE CIT/DIT CONCERNED 5. THE DR, F BENCH, ITAT, MUMBAI BY ORDER //TRUE COPY// ASSISTANT REGISTRAR ITAT, MUMBAI BENCHES, MUMBAI N.P.