M/S GOEL & GOEL ,ITARSI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- ITARSI, ITARSI

This is an Appeal by the Assessee directed against the Order by the Commissioner of Income Tax (Appeals)-1, Bhopal (‘CIT(A)’ for short) dated 03/6/2019, dismissing the assessee’s appeal contesting its’ assessment under section 143(3) of the Income Tax Act, 1961 (‘the Act’ hereinafter) for the Assessment Year (AY) 2007-08 vide Order dated 21/3/2016.

At the very outset, it was submitted by Sh. Sapan Usrethe, Adv., the ld. counsel for the assessee, that the assessee had opted for the Vivad Se Vishwas Scheme, 2019 in respect of its’ captioned appeal, which stands since accepted by the Revenue, with it issuing, toward the same, Form-3, i.e., the certificate under the Direct Tax Vivad Se Vishwas Act, 2020 (‘DTVsV Act’) read with the relevant rule, specifying the amount to be deposited thereunder in settlement of 1