TECHNOCRAFT INDUSTRIES (INDIA) LIMITED ,MUMBAI vs. DCIT CIRCLE 3(3)(1), MUMBAI

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ITA 4527/MUM/2024Status: DisposedITAT Mumbai12 March 2025AY 2021-22Bench: SHRI NARENDRA KUMAR BILLAIYA, ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL (Judicial Member)1 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 accepted the assessee's request for withdrawal of the appeal after the assessee opted for the Direct Tax Vivad Se Vishwas Scheme.

What were the facts?

The assessee filed an appeal against an order of the CIT(A) for AY 2021-22. Subsequently, the assessee opted for the Direct Tax Vivad Se Vishwas Scheme, 2024 and sought withdrawal of the appeal.

What were the issues?

Whether the appeal can be dismissed as withdrawn due to the assessee opting for the Vivad Se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “E” BENCH, MUMBAI

Before: SHRI NARENDRA KUMAR BILLAIYASHRI SANDEEP SINGH KARHAIL

For Appellant: Shri Vijay Mehta
For Respondent: Shri Pushkaraj Bhange Patil, Sr.DR

Date of Hearing – 24/01/2025 Date of Order - 12/03/2025

O R D E R PER SANDEEP SINGH KARHAIL, J.M.

The assessee has filed the present appeal challenging the impugned order dated 15.07.2024, passed under section 250 of the Income Tax Act, 1961 (“the Act”) by the learned Additional/Joint Commissioner of Income Tax (Appeals)-3, Ahmedabad, [“learned Addl./Joint CIT(A)”], for the assessment year 2021-22.

2.

Subsequent to the hearing, the learned AR of the assessee filed a letter dated 11.03.2025 stating that the assessee has opted for Direct Tax Vivad Se Vishwas Scheme, 2024 and filed the declaration in Form no.1 on 30.01.2025. Along with the letter mentioned above, the assessee has filed a copy of Form no.2 dated 10.03.2025, whereby the amount to be payable by the assessee towards the full and final settlement of the tax arrears has been determined. Accordingly, the learned AR prayed for the withdrawal of the assessee’s appeal.

4.

In view of the aforesaid, we accept the request made on behalf of the assessee for the withdrawal of the present appeal.

5.

In the result, the appeal by the assessee is dismissed as withdrawn. Order pronounced in the open Court on 12/03/2025

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