ABB SWITZELRLAND,BENGALURU vs. DY CIT (IT) CIRCLE-1(1)(1), MUMBAI

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ITA 7668/MUM/2019Status: DisposedITAT Mumbai02 June 2025AY 2015-16Bench: SHRI VIKRAM SINGH YADAV (Accountant Member), SHRI SANDEEP SINGH KARHAIL (Judicial Member)3 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 Tribunal allowed the assessee's request to withdraw the appeals, noting that the Learned DR did not object. Consequently, the appeals were dismissed as withdrawn.

What were the facts?

The assessee filed two appeals against the order of the Assessing Officer, consequent to directions from the Dispute Resolution Panel. The assessee filed petitions to withdraw these appeals as they had opted for settlement under the VsV Scheme.

What were the issues?

Whether the assessee can withdraw their appeal after opting for settlement under the VsV Scheme.

Which sections of the Income-tax Act were involved?

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI “I” BENCH : MUMBAI

Before: SHRI VIKRAM SINGH YADAV & SHRI SANDEEP SINGH KARHAIL

For Respondent: Shri Satya Pal Kumar, CIT-DR

O R D E R PER VIKRAM SINGH YADAV, A.M : These two appeals are filed by the assessee against the order of the Assessing Officer (AO), consequent to the directions given by the Dispute Resolution Panel [DRP]-Mumbai, pertaining to Assessment Years (AYs) 2015-16 and 2016-17.

2.

None appeared on behalf of the assessee. At the time of hearing, it was noticed that two petitions dt. 21-04-2025 have been filed for withdrawal of these appeals, wherein the assessee has requested the Bench for permission to withdraw these appeals and the contents of these petitions which are similarly worded, read as under:

1.

“This is with reference to the captioned matter, wherein the Company respectfully submits that the Company has opted for settlement of disputes under the VsV Scheme and has received approval of the Commissioner of Income-tax ('the CIT'), Bengaluru to proceed with the said Scheme on 09 April 2025. A copy of the certificate from the CIT in 'Form 2' is enclosed as Annexure 1 for your reference. Accordingly, it is most respectfully prayed that the captioned appeal filed by the Company before the Hon'ble ITAT (refer Annexure 2 for the appeal acknowledgement) be withdrawn since the Company has been granted the requisite certificate to settle the dispute under this Scheme. We shall be highly grateful for this kind accommodation. Should you have any reservations, or require any explanations / clarifications, kindly provide us with a further opportunity to present our case and make submissions. Yours faithfully, For ABB Switzerland Limited XXXX Authorized signatory Encl: As above”

3.

The Ld. DR did not raise any objection to such prayer.

4.

In view of the same, we hereby permit the assessee to withdraw these two appeals, which hereby stand dismissed as withdrawn.

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