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,
Kandivali(W),
Mumbai-67
PAN 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 In the result, appeal filed by the assessee is dismissed as withdrawn.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
Sd/- Sd/-
(B.RAMAKOTAIAH) (B.R. MITTAL)
Accountant Member Judicial Member
Mumbai, Dated
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
5. Departmental Representative, Bench ‘A’ Mumbai
//TRUE COPY//
BY ORDER
ASSTT. REGISTRAR, ITAT, MUMBAI
