DCIT - 14(2)(1), MUMBAI vs. INDIAN OIL CORPORATION PVT. LTD., MUMBAI

We have heard the arguments advanced by the Ld. Representative of the parties and perused the record. When these appeals were called out for hearing, the ld. Counsel of the assessee submitted that he has filed the necessary declaration under Direct Tax Vivad se Vishwas Act, 2020 (Act 3 of 2020) and is awaiting for final resolution of the matter under the said scheme. He submitted that upon completion of the necessary formalities, he will withdraw the appeals. In response to the suggestion from the Bench, he fairly accepted that he has no objection to the appeals being dismissed as withdrawn as long as his right for revival of the appeals are protected, in the event of, for some unfortunate reason, the matter being not settled under the Vivad se Vishwas scheme.

The Ld. DR also did not object to course so suggested.

In view of the above, we dismiss the appeals as well as cross- objection as withdrawn, subject to be rider that in the unlikely event of matter not being resolved under the Vivad se Vishwas scheme, the assessee shall have liberty to approach the Tribunal for restoration of his appeal.

In the result, the appeals as well as cross objection are dismissed as withdrawn – subject to the observation above. Order pronounced in the open court on 01/02/2022 Sd/- Sd/- (S. RIFAUR RAHMAN) (AMARJIT SINGH) लेखध सदस्य / ACCOUNTANT MEMBER न्यधनिक सदस्य/JUDICIAL MEMBER मुंबई Mumbai; ददनांक Dated : 01/02/2022 Vijay Pal Singh (Sr.PS)