HIREN V. SHAH,MUMBAI vs. ACIT-25(2), MUMBAI

The assessee, vide its letter dated 09.04.2022, submitted that it had preferred settlement under Direct Tax Vivad Se Vishwas Act, 2020 (“VSV Act”) and filed necessary Form 1. The assessee further submitted that Hiren V. Shah ITA no.2228/Mum./2021 pursuant thereto, Form 3 under section 5(1) of the VSV Act was also issued on 28.11.2020 determining the amount payable by the assessee. The same was duly complied by the assessee and Form 4 under section 5(2) of the VSV Act was issued on 10.02.2021 acknowledging the receipt of payment. The assessee has also filed copy of Form 5 dated 18.09.2021 issued by the Principal Commissioner of Income Tax under section 5(2) of the VSV Act towards full and final settlement of tax arrears for the assessment year under consideration. The assessee submitted that, despite the above, learned CIT(A) has passed the impugned order dated 06.10.2021.

When the appeal was called for hearing, no one was present on behalf of the assessee to represent the case. Considering that assessee has already settled the tax dispute under the VSV Act for the year under consideration, we proceed to dispose of the appeal ex-parte qua the assessee after hearing the learned Departmental Representative (“learned D.R.”) and on the basis of material available on record.

Learned D.R. also confirmed the fact that Form 5 under section 5(2) of the VSV Act has been issued in the case of assessee.

Though, the assessee has filed all the Forms before us in respect of settlement of tax dispute for year under consideration under VSV Act, however, it is not clear whether assessee filed any application before learned CIT(A) seeing withdrawal of its appeal in view of settlement under VSV Act. Be that as it may, as Form 5 has been issued on 18.09.2021 towards full and final settlement of tax arrears for the assessment year under 2

In the result, appeal by the assessee is dismissed. Order pronounced in the open court on 27.04.2022