LARSEN AND TOUBRO LTD,MUMBAI vs. ASST CIT RG 26(2), MUMBAI

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ITA 1464/MUM/2017Status: DisposedITAT Mumbai02 September 2022AY 2012-132 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 noted that the assessee had received a full and final settlement order under the Vivad Se Vishwaas Act, 2020. Therefore, the assessee's application for withdrawal of the appeal was allowed.

What were the facts?

The assessee filed an appeal against the order of the Assessing Officer. Subsequently, the assessee applied for the Vivad Se Vishwaas Act, 2020, and received a full and final settlement order.

What were the issues?

Whether the appeal should be withdrawn due to settlement under the Vivad Se Vishwaas Act.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “J” BENCH, MUMBAI

Before: SHRI B. R. BASKARAN, AM & SHRI ABY T. VARKEY, JM

For Appellant: Shri Nayan Thakkar
Hearing: 11/08/2022Pronounced: 02/09/2022

O R D E R

PER ABY T. VARKEY, JM:

1.

This is an appeal preferred by the assessee against the order of the Ld. Assessing Officer (hereinafter “AO”) dated 14.12.2016 passed u/s 143(3) read with section 144C of the Income Tax Act, 1961 (hereinafter “the Act”) pursuant to the Dispute Resolution Panel-1, Mumbai (DRP) directions u/s 144C(5) dated 24.11.2016.

2.

At the outset, it has been brought to our notice that assessee have filed an application for withdrawal of appeal by letter dated 18.06.2022 wherein it has pointed out that it had applied for the Vivad Se Vishwaas Act 2020 (hereinafter “the scheme”) by filing Form No- 1 & 2; and pursuant thereto the assessee received certificate in Form no- 3 from the Ld. PCIT-17; and the assessee in turn filed Form no- 4 (expressing its intention to withdraw this appeal) and resultantly had received Form no- 5 (i.e. Full and Final settlement order dated

Larsen and Toubro Ltd. 17.10.2021). In the light of the above development, since we find that the assessee have received the Form no- 5 as per the Vivad Se Vishwaas Act 2020, the assessee’s application for withdrawal of appeal for AY. 2012-13 is allowed.

3.

In the result, the appeal of the assessee is dismissed as withdrawn. Order pronounced in the open court on this 02/09/2022.

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