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Shri Rajesh J. Israni 151, Cassablanca, Mumbai 400005 Vs. Income Tax Officer- 3(1)(1) Cuffe Parade 6th Floor, Aayakar Bhavan M.K. Road, Mumbai 400020
October, 26th 2012
                          "E" Bench, Mumbai

                 Before Shri D. Manmohan, Vice President
                  and Shri Rajendra, Accountant Member

                         ITA No. 6304/Mum/2011
                         (Assessment Year: 2006-07)

     Shri Rajesh J. Israni                  Income Tax Officer- 3(1)(1)
     151, Cassablanca, Cuffe Parade     Vs. 6th Floor, Aayakar Bhavan
     Mumbai 400005                          M.K. Road, Mumbai 400020
     PAN - AAAPI 0639 K
                 Appellant                          Respondent

                   Appellant by:      None
                   Respondent by:     Shri Krishnamoorthy

                   Date of Hearing:       25.10.2012
                   Date of Pronouncement: 25.10.2012


Per D. Manmohan, V.P.

      This appeal filed by the assessee is directed against the order dated
03.05.2011 passed by the CIT(A)­7, Mumbai and it pertains to A.Y. 2006-07.

2.     The only ground raised by the assessee pertains to disallowance of
deemed capital gains arising from the transfer of short term capital asset
under section 50(2).

3.      The assessee, vide letter dated 15th October, 2012, moved an
application for withdrawal of his appeal to which Revenue has no objection.
We, therefore, allow assessee to withdraw its appeal. Accordingly this appeal
is dismissed as withdrawn.

Order pronounced in the open court on 25th October, 2012.

                Sd/-                                   Sd/-
             (Rajendra)                           (D. Manmohan)
         Accountant Member                        Vice President

Mumbai, Dated: 25th October, 2012
                                       2                 ITA No. 6304/Mum/2011
                                                              Shri Rajesh J. Israni

Copy to:

   1.   The   Appellant
   2.   The   Respondent
   3.   The   CIT(A) ­ 7, Mumbai
   4.   The   CIT­ 3, Mumbai City
   5.   The   DR, "E" Bench, ITAT, Mumbai

                                                      By Order

//True Copy//
                                                   Assistant Registrar
                                           ITAT, Mumbai Benches, Mumbai
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