M/S KAPADIA REALTORS PVT. LTD.,MUMBAI vs. ITO 10(1)(3), MUMBAI

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ITA 1939/MUM/2019Status: DisposedITAT Mumbai14 October 2021AY 2014-152 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The Tribunal dismissed the appeal as withdrawn, noting that the matter was settled under the Vivad se Vishwas scheme. The assessee was granted liberty to seek restoration if the settlement was not finalized.

What were the facts?

The assessee filed an appeal before the ITAT. Subsequently, the assessee filed an application under the Direct Tax Vivad se Vishwas Act, 2020, to settle the matter. The assessee received Form 3 and Form 4, indicating payment made under the scheme.

What were the issues?

Whether the appeal should be withdrawn as infructuous due to settlement under the Vivad se Vishwas Act.

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 “H” MUMBAI

For Respondent: Shri Shiddaramappa K., D.R
Hearing: 14/10/2021Pronounced: 14/10/2021

ORDER PER RAVISH SOOD, J.M: The present appeal filed by the assessee is directed against the order passed by the CIT(A)- 17, Mumbai, dated 15.02.2019, which in turn arises from the assessment order passed by the A.O under Sec. 143(3) of the Income-tax Act, 1961, dated 29.12.2016 for assessment year 2014-15.

2.

The assessee has filed a letter dated 15.09.2021 intimating that it had filed application under the Direct the Tax Vivad se Vishwas, Act, 2020, in order to settle the aforesaid matter pending before the Tribunal. It is stated by the assessee that it has received ‘Form 3’ (copy enclosed) from the designated authority. Also, copy of ‘Form 4’ intimating the payment made under sub-section (2) of Sec. 5 of the Direct Tax Vivad Vishwas Act, 2020 (3 of 2020) had also been enclosed. It is stated by the assessee that in the backdrop of the aforesaid facts, the appeal filed by the assessee having been rendered as infructuous may be allowed to be withdrawn.

3.

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

2 M/s Kapadia Realtors Pvt. Ltd. Vs. ITO-10(1)(3)

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