OWENS-CORNING (INDIA) PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX-15(1)(1), MUMBAI

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ITA 4795/MUM/2024Status: DisposedITAT Mumbai10 January 2025AY 2021-22Bench: SHRI NARENDER KUMAR CHOUDHRY (Judicial Member)2 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The Income Tax Appellate Tribunal dismissed the appeal as withdrawn, granting liberty to the parties to seek recalling of the order if the Assessee fails to deposit the determined amount under the Vivad Se Vishwas Scheme 2024.

What were the facts?

The Assessee filed an appeal against an order passed by the National Faceless Appeal Center under Section 250 of the Income Tax Act, 1961. During the proceedings, the Assessee opted for the Vivad Se Vishwas Scheme 2024 and filed Form No. 1, undertaking to deposit the requisite amount.

What were the issues?

Whether the appeal should be dismissed as withdrawn given the Assessee's option for the Vivad Se Vishwas Scheme 2024, and under what conditions.

Which sections of the Income-tax Act were involved?

Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “SMC”, MUMBAI

Before: SHRI NARENDER KUMAR CHOUDHRY

For Appellant: Ms. Kinjal Mehta, Ld. A.R. (Virtually)
For Respondent: Shri V.K. Chaturvedi, Ld. Sr. D.R
Hearing: 10.01.2025Pronounced: 10.01.2025

Per : Narender Kumar Choudhry, Judicial Member:

This appeal has been preferred by the Assessee against the order dated 25.07.2024, impugned herein, passed by the National Faceless Appeal Center (NFAC)/ Ld. Commissioner of Income Tax (Appeals) (in short Ld. Commissioner) under section 250 of the Income Tax Act, 1961 (in short ‘the Act’) for the A.Y. 2021-22.

2.

In the instant case, the Assessee has opted for Vivad Se Vishwas Scheme 2024 (in short “VSVS, 2024”) and filed form no.1 and undertakes to deposit the requisite amount to be determined by the Revenue Authority. The Ld. DR did not refute, such claim of the Assessee.

3.

Considering the aforesaid peculiar facts and circumstances, this Court is inclined to dismiss the appeal filed by the Assessee as dismissed as withdrawn, however, with liberty to the parties to seek recalling of this order, in case of failure of the Assessee to deposit the requisite amount to be determined by the concerned authority under VSVS, 2024.

4.

Thus, the appeal filed by the Assessee is accordingly dismissed as withdrawn with liberty to the parties as mentioned above.

Order pronounced in the open court on 10.01.2025.

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