DEV DIAMONDS,MUMBAI vs. ITO NFAC, DELHI, MUMBAI

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ITA 6339/MUM/2024Status: DisposedITAT Mumbai29 January 2025AY 2010-11Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)4 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal held that the appeal was dismissed as withdrawn since the assessee had opted for the Vivad Se Vishwas Scheme. Liberty was granted to seek restoration if the scheme application failed.

What were the facts?

The assessee filed an appeal against a penalty order for AY 2010-11. The assessee had opted for settlement under the Vivad Se Vishwas Scheme-2024 and filed an application.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to the assessee opting for the Vivad Se Vishwas Scheme.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 271(1)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘D’ BENCH

For Respondent: Shri. R.R. Makwana
Hearing: 29/01/2025Pronounced: 29/01/2025

आदेश / O R D E R PER AMIT SHUKLA (J.M): The aforesaid appeal has been filed by the assessee against order passed by NFAC, Delhi dated 18/11/2024 in relation to penalty proceedings under Section 271(1)(c) of the Income Tax Act, 1961 for the Assessment Year 2010-11.

2.

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 Accordingly, appeal of the assessee is dismissed as withdrawn, however, liberty is given to the assessee in case the application for VSVS does not materialize and is not accepted, assessee may file an application for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

3.

In the result, appeal of the assessee is dismissed.

Order pronounced on 29th January,2025.

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