M/S KINU BABA JEWELLERY P. LTD.,JAIPUR vs. ITO WARD-1(4), JAIPUR

The hearing of the appeal was concluded through video conference in view of the prevailing situation of Covid-19 Pandemic.

The ld. Counsel for the assessee furnished application for withdrawal of this appeal. The contention in the said application reads as under: “It is most humbly submitted that the quantum appeal of the assessee for A.Y. 2008-09 is pending before the Hon'ble Bench in ITA No: 676/JP/19.

2 ITA 676/JP/2019_ Kinu Baba Jewellery P Ltd. Vs ITO It is submitted that the Hon'ble Finance Minister in her budget speech of 2020 announced a dispute resolution scheme Vivad Se Vishwas. The scheme was formulated into The Direct Tax Vivad Se Vishwas Act, 2020 (DTVSV) on 17th March, 2020. The Act provides that any assessee whose appeal was pending as on 31st January, 2020 can settle his dispute by filing a declaration u/s 4(1) of DTVSV in Form-1 and Form-2. The above mentioned appeal was pending as on 31stJanuary, 2020.The appeal has not been decided till date, therefore, the assessee is eligible for opting the scheme. The assessee filed declaration in Form-1 and Form-2 on 12th August, 2020 before the Designated Authority. On 31st January, 2021, the assessee received Form-3 i.e. Form for Certificate u/s 5(1) of DTVSV from Designated Authority. Section 4(2) of DTVSV, provides that where declaration has been filed by the assessee the appeal shall be deemed to be withdrawn from the date on which Certificate u/s 5(1) of DTVSV is issued by the Designated Authority. Hence, in the present case, the appeal of the assessee stands withdrawn on 31st January, 2021. In view of above you are requested to kindly treat the appeal of the assessee to be withdrawn and necessary action may please be taken.

Therefore, in view of the fact that the assessee has already approached the department to settle the matter under Vivad Se Vishwas scheme, we permit the assessee to withdraw its appeal. Accordingly, the appeal of the assesses is dismissed as withdrawn.

In the result, this appeal of the assessee is dismissed. Order pronounced in the open court on 10th February, 2021