(By Justice Syed Shah Mohammed Quadri) Mr. Joseph Vallapally, the learned senior advocate, appearing for the applicant, submits that having regard to the provisions of section 245N of the Income-tax Act, 1961,the applicant does not wish to proceed with the application and seeks permission to withdraw the application.
2. The request for withdrawal of the application is made more than
30 days of the filing of the application. Though sub-section (3) of section 245q provides that an application filed under sub-section (1) thereof may be withdrawn by the applicant within 30 days from the date of the application, this, however, in our view, does not preclude the Authority from permitting withdrawal of the application after the said period with the permission of the Authority if the circumstances of the case so justify. We have taken the same view in AAR No.594 of 2002 which is reiterated in many cases thereafter.
2. Having regard to the circumstances of this case, we permit the applicant to withdraw the application. Accordingly, the application is dismissed as withdrawn. Sd/- (JUSTICE S.S.M. QUADRI) CHAIRMAN (K.D. SINGH) Sd/- MEMBER Sd/- (A.S. NARANG) MEMBER F.No. AAR/644/2004 Dated .. This copy is certified to be a true copy of the Order and is sent to:
1. The applicant.
2. The Joint Secretary (FT&TR- I, II), M/Finance, CBDT, North Block, New Delhi.
3. The CIT-III, Chennai.
4. Guard file. (A.K. Pandey) Addl. Commissioner of Income Tax(AAR)