AMPACET INVESTMENT II S.A.R.L(SUCCESSOR OF AMPACET CYPRUS LTD),PUNE vs. DCIT (IT) 1(1)(1), MUMBAI

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ITA 1518/MUM/2016Status: DisposedITAT Mumbai27 February 2025AY 2011-12Bench: SHRI SAKTIJIT DEY, VICE PRESIDENT SHRI VIKAS AWASTHY (Judicial Member), MS. PADMAVATHY S. (Accountant 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The Tribunal decided to dismiss the appeals as withdrawn, granting liberty to the assessee to seek revival if the declarations under the VSVS Scheme are not accepted.

What were the facts?

The assessee filed appeals against final assessment orders pertaining to AY 2011-12 and 2012-13. The assessee sought to withdraw the appeals as they opted to settle the dispute under the Vivad Se Vishwas Scheme, 2024.

What were the issues?

Whether the appeals can be dismissed as withdrawn on the assessee opting for Vivad Se Vishwas Scheme and the department having no objection.

Which sections of the Income-tax Act were involved?

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “I” BENCH, MUMBAI

For Appellant: Shri Rajan Vora/Anish Thacker
For Respondent: Shri G. C. Srivastava
Hearing: 27.02.2025Pronounced: 27.02.2025

O R D E R The captioned appeals have been filed by the assessee, assailing the final assessment orders passed in pursuance to the directions of learned Dispute Resolution Panel (DRP), pertaining to the assessment years (A.Y.) 2011-12 and 2012-13.

2.

It will be relevant to observe, vide order dated 07.06.2024, Hon’ble President, Income Tax Appellate Tribunal had constituted this Special Bench to decide all the issues arising in these appeals.

3.

Learned counsel appearing for the assessee and learned Special Counsel for the Revenue were present at the time of call. The authorized signatory of the assessee has furnished letter dated 19.02.2025, kept on record, seeking permission to withdraw the Scheme, 2024. It is further stated that in terms with Form 2 issued by the competent authority, the assessee has paid the taxes and Form 3 has been furnished. However, final certificate accepting the declaration is yet to be received. The learned counsel appearing for the department had no objection to assessee’s request for withdrawal of the appeal.

4.

In the afore-said circumstances, we are inclined to dismiss the appeals as withdrawn. However, liberty is granted to the assessee to seek revival of the appeals, in case, the declarations under VSVS, 2024 are not accepted by the Competent Authority for any reason.

5.

In the result, the appeals are dismissed. Order pronounced in the open court on 27.02.2025 Sd/- Sd/- Sd/- (Padmavathy S.) (Saktijit Dey) (Vikas Awasthy) Accountant Member Vice President Judicial Member Mumbai; Dated : Roshani, Sr. PS Copy of the Order forwarded to : 1. The Appellant 2. The Respondent 3. The CIT(A) 4. CIT - concerned 5. DR, ITAT, Mumbai 6. Guard File BY ORDER,

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