TEJAS RAMANIKLAL KOTHARI,MUMBAI vs. ASST CIT 14(2), MUMBAI

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ITA 5469/MUM/2014Status: DisposedITAT Mumbai28 April 2022AY 2008-092 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The Tribunal dismissed the appeal as withdrawn. This was based on the assessee's request to withdraw the appeal after opting for the Direct Tax Vivad Se Vishwas Scheme, 2020.

What were the facts?

The assessee filed an appeal against the CIT(A)'s order for AY 2008-09, which had partly allowed an appeal against an assessment order. The assessee had challenged an addition made by the Assessing Officer under Section 2(22)(e).

What were the issues?

Whether the addition made by the Assessing Officer under Section 2(22)(e) was correct. The appeal was withdrawn due to opting for the Vivad Se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Section 2(22)(e),Section 143(3),Section 148

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “E” BENCH, MUMBAI

Before: SHRI SHAMIM YAHYA & SHRI RAHUL CHAUDHARY

Hearing: 20.04.2022Pronounced: 28.04.2022

BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER आयकर अपील सं/ (निर्धारण वर्ा / Assessment Year: 2008-09) Shri Tejas Ramniklal Kothari, बिधम/ Assistant Commissioner of 304, Pushp Kung, A Road, Income Tax – 14(2), Mumbai, Vs. 3rd Floor, Room No. 304, Churchgate, Mumbai - 400020 Earnest House, PAN : AABPK3545M Mumbai - 400021 (अपीलाथी /Appellant) : (प्रत्यथी) / Respondent) For the Appellant/Assessee: None For the Respondent/Revenue: Shri B.K. Bagchi सुनवाई की तारीख / Date of Hearing : 20.04.2022 घोषणा की तारीख /Date of Pronouncement : 28.04.2022 आदेश / O R D E R Per Rahul Chaudhary, Judicial Member: 1. By way of the present appeal the Appellant/Assessee has challenged the order dated, 16.07.2014 passed by the Ld. Commissioner of Income Tax (Appeals)- 25, Mumbai (hereafter referred to as „the CIT(A)‟] for the Assessment Year 2008-09, whereby the Ld. CIT(A) had partly allowed the appeal against the Assessment Order, dated 05.01.2014, passed under Section 143(3) read with Section 148 of the Income Tax Act, 1961 (hereafter referred to as „the Act‟),

2.

The Assessee has raised the following grounds:

1.

The learned CIT(A) erred in confirming the addition made by the Assessing Officer of Rs. 40,94,555/- by invoking the provisions of section 2(22)(e) of the I.T. Act.

2. The learned CIT(A) failed to consider the submissions made before him.

3.

The Assessee has, vide letter dated 22.03.2022, made a request for withdrawal of the present appeal having opted for Direct Tax Vivad Se Vishwas Scheme, 2020. In this regard, the Assessee has placed on record Form No. 5 issued by the designated authority (Acknowledgement No. 367508950140621). The learned Departmental Representative has no objection to the aforesaid request of the assessee.

In view of the above, the present appeal is dismissed as withdrawn 4.

Order pronounced on 28.04.2022.

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