What did the Tribunal hold?

The tribunal noted that the assessee had opted for the Vivad Se Vishwas Scheme and was not objected to by the revenue. Consequently, the appeal was dismissed as withdrawn.

The assessee had opted for settlement of dispute under the Direct Tax Vivad Se Vishwas Scheme, 2020. The assessee therefore sought withdrawal of the appeal filed before the tribunal.

What were the issues?

Whether an appeal can be withdrawn if the assessee opts for the Vivad Se Vishwas Scheme.

Panama Jv vs ITO | ITAT Mumbai 2021

Income Tax Appellate Tribunal, “C” BENCH, MUMBAI

Before: HON’BLE SHRI MAHAVIR SINGH, VP & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM

For Appellant: Shri Kamal Matalia- Ld. AR

For Respondent: Shri R.A.Dhyani-Ld. Sr. DR

O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. The Ld. AR submitted that the assessee has already opted for settlement of dispute for the year under Direct Tax Vivad Se Vishwas Scheme (VVS Scheme), 2020 and therefore, the assessee seeks withdrawal of the appeal. A letter to that effect has been placed on record. The same was not objected to by Ld. DR.

In view of foregoing, the assessee’s appeal stand dismissed as withdrawn with a liberty to assessee to seek restoration of the appeal, in case the declaration filed under the scheme is not accepted, for whatever reasons.

The appeal stands dismissed as withdrawn. Order pronounced on 24th November, 2021.

Sd/- Sd/- (Mahavir Singh) (Manoj Kumar Aggarwal) उपाध्यक्ष / Vice President लेखा दस्य / Accountant Member मुिंबई Mumbai; सदनािंक Dated : 24/11/2021 Sr.PS, Dhananjay आदेशकीप्रधिधलधपअग्रेधर्ि/Copy of the Order forwarded to : 1. अपीलाथी/ The Appellant 2. प्रत्यथी/ The Respondent 3. आयकरआयुक्त(अपील) / The CIT(A) 4. आयकरआयुक्त/ CIT– concerned 5. सवभागीयप्रसतसनसध, आयकरअपीलीयअसधकरण, मुिंबई/ DR, ITAT, Mumbai 6. गार्डफाईल / Guard File आदेशाि सार/ BY ORDER,

PANAMA JV,MUMBAI vs. ITO - 20(2)(5), MUMBAI

What did the Tribunal hold?

What were the facts?

What were the issues?

Which sections of the Income-tax Act were involved?

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