M/S SHREEJI GEMS LTD.,MUMBAI vs. DCIT-5(3)(1), MUMBAI

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ITA 2461/MUM/2019Status: DisposedITAT Mumbai13 October 2021AY 2007-083 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The Tribunal treated the appeals as dismissed and withdrawn, granting liberty to the assessee to have them restored if the Vivad Se Viswas declaration is later declared bad in law. The assessee had already paid the due taxes under the scheme.

What were the facts?

The assessee filed appeals before the ITAT for assessment years 2007-08 and 2008-09. The assessee subsequently filed an application under the Vivad Se Viswas Scheme, 2020, to settle the tax disputes.

What were the issues?

The primary issue was the pendency of appeals before the ITAT in light of the assessee opting for the Vivad Se Viswas Scheme for dispute resolution.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘G‘ BENCH

For Respondent: Shri Ravinder Sindhu
Hearing: 13/10/2021Pronounced: 13/10/2021

आदेश / O R D E R PER M. BALAGANESH (A.M):

1.

These appeals in & 2462/Mum/2019 for A.Yrs.2007-08 & 2008-09 arise out of the order by the ld. Commissioner of Income Tax (Appeals)-10, Mumbai in appeal No.CIT(A)-10/DC- 5(3)(1)/330/2015-16 & CIT(A)-10/DC-5(3)(1)/43/2016-17 dated 04/01/2019 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) r.w.s. 147 of the Income Tax Act, 1961 (hereinafter referred

2462/Mum/2019 M/s. Shree Gems Limited to as Act) dated 19/03/2015 by the ld. Dy. Commissioner of Income Tax, Circle 5(3)(2), Mumbai (hereinafter referred to as ld. AO).

2.

We find that the assessee filed a letter dated 05/10/2021 mentioning that an application had been preferred under direct tax “Vivad Se Viswas Scheme 2020” to settle these tax dispute for the years under consideration and had obtained Form-3 from the designated authority thereon, copies of which were enclosed alongwith this letters. He also stated that due taxes for both the years had already been paid by the assessee under „Vivad se Vishwas Scheme‟ 2020.

3.

In view of this, we hereby treat these appeals pending before us as dismissed and withdrawn with a liberty given to the assessee to get the appeals restored in the event that assessee‟s declaration made under “Vivad Se Viswas Scheme 2020” is declared bad in law in future for any reason whatsoever.

4.

In the result, appeals of the assessee are dismissed.

Order pronounced in open Court on 13/10/2021.

Sd/- Sd/- (SAKTIJIT DEY) (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai; Dated 13/10/2021 KARUNA, sr.ps

2462/Mum/2019 M/s. Shree Gems Limited

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