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Techint Hypertherm Pvt. Ltd. 2093, Oberoi Garden Estates, Chandivali, Andheri (E), Mumbai-400 072 Vs. CIT-VIII, Room No. 259, Aaykar Bhavan, M. K. Road, Mumbai 400 020
May, 21st 2014
                    ""   
     IN THE INCOME TAX APPELLATE TRIBUNAL "E" BENCH, MUMBAI

       ,         ,                                    
     BEFORE SHRI SANJAY ARORA, AM AND SHRI AMIT SHUKLA, JM

                    ./I.T.A. No. 3266/Mum/2012
                    (   / Assessment Year: 2007-08)

Techint Hypertherm Pvt. Ltd.                       CIT-VIII,
(Now known as `Tenova Hypertherm                   Room No. 259, Aaykar Bhavan,
Pvt. Ltd.')                               /        M. K. Road, Mumbai ­ 400 020
2093, Oberoi Garden Estates,              Vs.
Chandivali, Andheri (E),
Mumbai-400 072
     . /  . /PAN/GIR No. AACCT 3824 E
        ( /Appellant)                        :            (     / Respondent)

         / Appellant by                     :     Shri Pavan Sharma

          /Respondent by                    :     Shri Girija Dayal

                         /                  :     13.05.2014
                   Date of Hearing
                      /
                                            :     13.05.2014
           Date of Pronouncement

                                    / O R D E R
Per Sanjay Arora, A. M.:

      This is an Appeal by the Assessee agitating the Order by the Commissioner of
Income Tax-8, Mumbai (`CIT' for short) dated 06.03.2012 for the assessment year (A.Y.)
2007-08 passed u/s.263 of the Income Tax Act, 1961 (`the Act' hereinafter).

2.    At the very outset, it was submitted by the ld. Authorized Representative (AR), the
assessee's counsel, that the assessee wishes to withdraw its appeal. The appeal under
                                            2
                                                        ITA No. 3266/Mum/2012 (A.Y. 2007-08)
                                                           Techint Hypertherm Pvt. Ltd. vs. CIT






reference is against a revision order, setting aside the assessment back to the file of the
Assessing Officer (A.O.) for considering the assessee's claim for depreciation on
goodwill. The same having been since allowed in assessment by the A.O. following the
decision by the apex court in CIT vs. Smifs Securities Ltd. [2012] 348 ITR 302 (SC), the
instant appeal becomes infructuous.
      The ld. Departmental Representative (DR), on being questioned by the Bench in
the matter, did not raise any objection to the proposed withdrawal of its appeal by the
assessee. Under the circumstances, we have no hesitation in, acceding to the assessee's
request, allowing it to withdraw its appeal, which would thus stand dismissed in limine.






3.    In the result, the assessee's appeal is dismissed as withdrawn.
                  Order pronounced in the open court on May 13, 2014

          Sd/-                                         Sd/-
      (Amit Shukla)                                (Sanjay Arora)
         / Judicial Member                           / Accountant Member

 Mumbai;  Dated : 13.05.2014

. ../Roshani, Sr. PS

         /Copy of the Order forwarded to :
1.  / The Appellant
2.  / The Respondent
3.     () / The CIT(A)
4.      / CIT - concerned
5.                ,     ,   / DR, ITAT, Mumbai
6.     / Guard File
                                                    / BY ORDER,



                                             /  (Dy./Asstt. Registrar)
                                          ,  / ITAT, Mumbai

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