J K DENIM FAB PRIVATE LIMITED,MUMBAI vs. ITO 10(2)(1), MUMBAI

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ITA 613/MUM/2019Status: DisposedITAT Mumbai27 January 2022AY 2015-162 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The Tribunal dismissed the appeal as withdrawn, subject to the condition that if the Vivad se Vishwas scheme does not resolve the matter, the assessee can seek restoration of the appeal within the prescribed time.

What were the facts?

The assessee filed an appeal before the ITAT against an assessment order. During the pendency of the appeal, the assessee opted for the Vivad se Vishwas Act, 2020, to settle the matter. The assessee requested to withdraw the appeal.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to the assessee opting for the Vivad se Vishwas scheme.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “F” MUMBAI

Before: SHRI AMARJIT SINGH & SHRI AMARJIT SINGH

For Appellant: Shri Nilesh Gupta
For Respondent: Shri Achal Sharma
Hearing: 19/01/2022Pronounced: 27/01/2022

ORDER PER AMARJIT SINGH, A.M: The present appeal filed by the assessee is directed against the order passed by the CIT(A)- 17, Mumbai, dated 27.12.2018, which in turn arises from the assessment order passed by the A.O under Sec. 143(3) of the Income-tax Act, 1961 dated 10.11.2017 for assessment year 2015-16.

2.

At the time of hearing the ld. counsel of the assessee submitted that the assessee has opted this appeal for Vivad se Vishwas Act, 2020 in order to settle the aforesaid matter pending before the Tribunal. It is stated by the assessee that in the backdrop of the aforesaid facts the captioned appeal may be allowed to be withdrawn.

3.

The ld. D.R did not controvert the aforesaid factual position as had been stated before us.

J.K. Denim Fab Pvt. Ltd. Vs. ITO-10(2)(1)

4.

In view of the above, we dismiss the appeal as withdrawn, subject to a rider that in the unlikely event of the matter not being resolved under the Vivad se Vishwas scheme the assessee shall have liberty to approach the Tribunal for restoration of his appeal within the time limit provided in the Act.`

5.

Resultantly, the appeal is dismissed as withdrawn subject to the observation recorded hereinabove.

Order pronounced in the open court on 27/01/2022.

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