PRATHAMIK SHIKSHAK SAHAKARI BANK LTD.,KOLHAPUR vs. ASSISTANT COMMISSIONER OF INCOME-TAX,

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ITA 2677/PUN/2016Status: DisposedITAT Pune26 November 2020AY 2008-092 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The assessee sought to withdraw the appeal as they had settled the dispute under the Vivad Se Vishwas Scheme. The Revenue did not object to the withdrawal.

What were the facts?

The assessee filed an appeal against an order for assessment year 2008-09. The assessee subsequently filed a withdrawal application, having opted for the Direct Taxes Vivad Se Vishwas Scheme.

What were the issues?

The primary issue was the assessee's request to withdraw the appeal due to settlement under a tax dispute resolution scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH, PUNE

Before: SHRI R.S. SYAL & SHRI PARTHA SARATHI CHAUDHURY, JM

For Respondent: Shri Mahadevan A.M. Krishnan
Hearing: 21.12.2020Pronounced: 21.12.2020

आदेश / ORDER This appeal by the assessee is directed against the order passed by the Commissioner of Income Tax (Appeals)-2, Kolhapur on 06.10.2016 in relation to the assessment year 2008-09.

2.

Before us, the assessee has filed a letter dated 18.12.2020 seeking withdrawal of the appeal. The relevant contents of such letter reads as under :

1.

“We have opted for the Direct Taxes Vivad Se Vishwas Scheme in respect of the appeal for A.Y. 2008-09. Accordingly, we have been issued Form No.3 by the Pr.CIT, in response to our application.

We have accordingly intimated our intention to withdraw our appeal for A.Y. 2008-09 to your honour. Appeal for A.Y. 2010-11, is a consequential appeal, where in the set off of brought forward losses from A.Y. 2008-09 is in dispute. In AY 2008-09 we have paid taxes under Vivad Se Vishwas Scheme settling the dispute regarding disallowance of Rs.1,95,54,338. Accordingly, we will b eligible for carry forward and its set off of losses from AY 2008-09 in A.Y. 2010- 11. Copy of Form No.3 as issued is enclosed.”

3.

The ld. DR did not raise any objection to the withdrawal of the appeal filed by the assessee. As such, the assessee is permitted to withdraw the appeal.

4.

In the result, the appeal is dismissed as ‘withdrawn’.

Order pronounced in the open Court on 21st day of December, 2020.

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