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Judgment
Captioned appeals have been filed by assessee, assailing the final assessment orders passed by the Assessing Officer for assessment years 2006-07 and 2011-12, in pursuance to the directions of learned Dispute Resolution Panel (DRP).
At the time of hearing, learned counsel appearing for the assessee, on instructions, sought permission to withdraw the appeals, as, by virtue of rectification orders passed by the Assessing Officer under Section 154 of the Income-Tax Act, 1961, assessee has been granted the desired relief and the quantum of adjustment to the arm’s length price (ALP) has been reduced to nil.
Learned Departmental Representative has no objection to assessee’s request for withdrawal of the appeals.
In view of the facts discussed above, since, the dispute arising in the present appeals no more survive, for all practical purposes, appeals have become infructuous. Therefore, we permit the assessee to withdraw the present appeals. Accordingly, appeals are dismissed as withdrawn.
In the result, the appeals are dismissed.