DEPUTY COMMISSIONER OF INCOME TAX -4(3)(2), MUMBAI vs. VALUE ADDED FASHION FABRICS PRIVATE LIMITED, MUMBAI

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ITA 7023/MUM/2017Status: DisposedITAT Mumbai11 November 2021AY 2012-132 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Revenue requested to withdraw the appeal as the assessee had opted for the Vivad Se Vishwas Scheme. The assessee's representative conceded to the withdrawal.

What were the facts?

The Revenue preferred an appeal against the CIT(A)'s order for assessment year 2012-13. The assessee had opted for the Vivad Se Vishwas Scheme and Form No. 3 was issued.

What were the issues?

The primary issue was the withdrawal of the Revenue's appeal due to the assessee's participation in the Vivad Se Vishwas Scheme.

AI-generated summary — verify with the full judgment below

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

Before: SHRI RAJESH KUMAR & SHRI AMARJIT SINGH

For Appellant: Shri Ryan, A.R
For Respondent: Shri S.N. Kabra, D.R
Hearing: 12.10.2021Pronounced: 11.11.2021

Per Rajesh Kumar, Accountant Member:

1.

The present appeal has been preferred by the Revenue against the order dated 04.09.2017 of the Commissioner of Income Tax (Appeals) [hereinafter referred to as the CIT(A)] relevant to assessment year 2012-13.

2.

At the outset, the Ld. D.R. brought to the notice of the Bench that the assessee has gone into Vivad Se Vishwas Scheme and also submitted that form No.3 which has already been issued. The Ld. D.R., therefore, prayed before the Bench that appeal may kindly be allowed to be withdrawn.

4.

Accordingly, we are inclined to dismiss the appeal of the Revenue.

5.

In the result, the appeal of the Revenue is dismissed as withdrawn.

Order pronounced in the open court on 11.11.2021.

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