SHREE MAHAVIR ASSOCIATES AND DEV LAND AND HOUSING LTD ,THANE vs. ACIT, CENTRAL CIRCLE 1, THANE, THANE

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ITA 4459/MUM/2024Status: DisposedITAT Mumbai29 January 2025AY 2019-20Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)3 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal noted that the assessee had opted for settlement under the 'Vivad Se Vishwas Scheme-2024' and had filed the necessary application. Consequently, the appeals were dismissed as withdrawn.

What were the facts?

The assessee filed appeals against an order passed by NFAC for assessment years 2013-14 and 2019-20. The assessee had opted for settlement under the 'Vivad Se Vishwas Scheme-2024'.

What were the issues?

Whether the appeals should be dismissed as withdrawn due to the assessee opting for settlement under the 'Vivad Se Vishwas Scheme-2024'.

Which sections of the Income-tax Act were involved?

Section 147,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘D’ BENCH

For Appellant: Ms. Vidhi Solani
For Respondent: Shri R.R. Makwana
Hearing: 20/01/2025Pronounced: 29/01/2025

आदेश / O R D E R PER AMIT SHUKLA (J.M): The aforesaid appeals have been filed by the assessee against order passed by NFAC dated 04/07/2024 for the quantum of assessment passed u/s.147 & 143(3) respectively for the A.Y.2013-14 & 2019-20.

& 4460/Mum/2024 Shree Mahavir Associates And Dev Land And Housing Ltd.

2.

In the aforesaid appeals the ld. Counsel for the assessee has submitted that assessee has opted for settlement of its tax dispute under the ‘Vivad Se Vishwas Scheme-2024’ and has also filed application before the authorities. Accordingly, appeals of the assessee are dismissed as withdrawn, however, liberty is given to the assessee in case the application for VSVS does not materialize and is not accepted, assessee may file an application for restoration of the appeals. Accordingly, appeals of the assessee are dismissed in limine.

3.

In the result, both the appeals of the assessee are dismissed.

Order pronounced on 29th January, 2025.

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