What did the Tribunal hold?

The Tribunal noted that the assessee had opted for the Vivad Se Vishwas Scheme to settle the dispute. Both the assessee's representative and the revenue's representative agreed to this course of action.

The assessee filed an appeal before the ITAT for AY 2000-01. The assessee subsequently filed an application under the Vivad Se Vishwas Scheme, 2020, to settle the tax dispute.

What were the issues?

The primary issue was the settlement of the tax dispute through the Vivad Se Vishwas Scheme, leading to the withdrawal of the appeal.

M/S. Wyeth Ltd. vs Addl. CIT RG. 7(3) | ITAT Mumbai 2022

Income Tax Appellate Tribunal, ‘J‘ BENCH

Before: SHRI M.BALAGANESH & SHRI PAVAN KUMAR GADALE

For Appellant: Shri Rajanchi

For Respondent: Shri S N Kabra

Hearing: 01/06/2022Pronounced: 01/06/2022

आदेश / O R D E R PER M. BALAGANESH (A.M):

This appeal in for A.Y.2000-01 arises out of the order by the ld. Commissioner of Income Tax (Appeals) in appeal No.CIT(A)-XXX/IT-56/7(3)/03-04 dated 22/03/2005 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 28/03/2003 by the ld. Addl. Commissioner of Income Tax, Range-7(3), Mumbai (hereinafter referred to as ld. AO).

We find that the ld. AR filed a letter dated 31st May 2022 2. mentioning that assessee had preferred an application under direct tax “Vivad Se Viswas Scheme 2020” to settle this tax dispute for the year under consideration and had obtained Form-5 from the designated authority thereon, copy of which was enclosed alongwith this letter. Ld. DR also agreed that the Form -5 has been received.

In view of this, we hereby dismiss the appeal pending before us.

In the result, appeal of the assessee is dismissed as withdrawn.

Order pronounced in open Court on 01/06/2022.

M/S. WYETH LTD.,MUMBAI vs. ADDL. CIT RG. 7(3), MUMBAI

What did the Tribunal hold?

What were the facts?

What were the issues?

Which sections of the Income-tax Act were involved?

Recent GST High Court judgments