LANXESS INDIA PVT. LTD.,MUMBAI vs. DCIT, CIRCLE-1 , THANE

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ITA 2362/MUM/2022Status: DisposedITAT Mumbai23 January 2025AY 2018-19Bench: SHRI ANIKESH BANERJEE (Judicial Member), SHRI PRABHASH SHANKAR (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 allowed the assessee's request to withdraw the appeal. The appeal was dismissed as withdrawn by the Tribunal.

What were the facts?

The assessee filed an appeal against an order pertaining to assessment year 2018-19. The assessee later requested to withdraw the appeal as they opted to settle the pending appeal under the Direct Tax Vivad Se Vishwas Act, 2024.

What were the issues?

Whether the appeal should be dismissed as withdrawn by the assessee, who has opted for settlement under the Vivad Se Vishwas Act.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C,Section 5(1)

AI-generated summary — verify with the full judgment below

Before: SHRI ANIKESH BANERJEE & SHRI PRABHASH SHANKAR

For Appellant: Shri Madhur Agrawal,AR
For Respondent: Shri Kiran Unavekar (Sr. DR)
Hearing: 20.01.2025Pronounced: 23.01.2025

PER PRABHASH SHANKAR [A.M.] :- The above captioned appeal has been filed by the assessee against the order passed by the Learned Dispute Resolutions Panel -1, Mumbai [hereinafter referred to as “CIT(A)”] pertaining to assessment order passed u/s. 143(3) r.w.s. 144C of the Income-tax Act, 1961 [hereinafter referred to as “Act”] for the Assessment Years [A.Y.] 2018-19. P a g e | 2 Lanxess India Private Limited

2.

At the outset, our attention was drawn towards letter dated 24.12.2024 wherein the assessee has requested to withdraw the appeal. The operative portion of the letter extracted as under:-

In this connection we wish to submit that as the Appellant has opted to settle the captioned pending appeal under the Direct Tax Vivad Se Vishwas Act 2024 ('VSV scheme'/ 'DTVSV Act') by filing Form 1 on November 11, 2024. In response to the declaration filed in Form 1, the Appellant has received the certificate in Form 2 under section 5(1) of the DTVSV Act (enclosed as Annexure A) dated December 20, 2024 from the designated authority determining the tax arrears and the amount refundable under the VSV scheme.

In view of the foregoing, we request Your Honour to kindly dismiss the said appeal to enable us to file Form 3 with the designated authority intimating the details of payment along with proof of withdrawal of appeal.

The Appellant further seek your liberty to revive the appeal if the declaration is considered void under the VSV Scheme.

3.

On the other hand, Ld. DR did not object to the said request of withdrawal.

4.

Considering the contents of the letter as mentioned above, we allow the request of the assessee for withdrawing the present appeal.

5.

In the result, the appeal filed by the assessee is dismissed as withdrawn.

P a g e | 3 Lanxess India Private Limited

Order pronounced in the open court on 23/01/2025. ANIKESH BANERJEE PRABHASH SHANKAR (न्याययकसदस्य /JUDICIAL MEMBER) (लेखाकारसदस्य/ACCOUNTANT MEMBER)

Place: म ुंबई/Mumbai दिनाुंक /Date. 23.01.2025 Dhananjay Sr.PS

आदेश की प्रयियलयि अग्रेयिि/Copy of the Order forwarded to : 1. अपीलार्थी / The Appellant 2. प्रत्यर्थी / The Respondent. 3. आयकर आयुक्त / CIT 4. विभागीय प्रविविवि, आयकर अपीलीय अविकरण DR, ITAT, Mumbai 5. गार्ड फाईल / Guard file.

सत्यावपि प्रवि //// आदेशानुसार/ BY ORDER,

उि/सहायक िंजीकार (Dy./Asstt.

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