M/S VAMA APPARELS (I) PVT LTD.,MUMBAI vs. ACIT-CENTRAL CIRCLE-42, MUMBAI

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ITA 2348/MUM/2019Status: DisposedITAT Mumbai16 September 2021AY 2000-013 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 noted that the assessee had opted for the 'Vivad se Vishwas Scheme 2020' and received the necessary form. Consequently, the Tribunal found no purpose in keeping the appeal pending.

What were the facts?

The assessee filed an appeal against an order related to penalties and assessment. During the hearing, the assessee informed the tribunal that they intended to settle the tax litigation by opting for the 'Vivad se Vishwas Scheme 2020'.

What were the issues?

The primary issue was whether the appeal should continue when the assessee has opted for a settlement scheme. The tribunal considered the implications of the 'Vivad se Vishwas Scheme' on the pending appeal.

Which sections of the Income-tax Act were involved?

Section 271(1)(c),Section 250,Section 254(2)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “F” BENCH, MUMBAI

For Appellant: Shri Mayur Makadia. AR
For Respondent: Shri S.N. Kabra. DR
Hearing: 15.09.2021Pronounced: 17.09.2021

O R D E R

PER PAVAN KUMAR GADALE JM:

1.

The assessee has filed the appeal against the order of the Commissioner of Income Tax (Appeals)-49, Mumbai passed u/s 271(1)(c) and 250 of the Income Tax Act, 1961. 2.

2.

At the time hearing, the Ld. Counsel of the assessee has submitted a letter on 06.08.2021 mentioning that the assessee intend to settle the tax litigation by opting for ‘Vivad se Vishwas Scheme 2020’ M/s Vama Apparels (I) Pvt ltd, Mumbai (VSVS2020) and received Form 3 under VSVS Rules 2020. Contra, the Ld. DR has no objections.

3.

We heard the rival submissions and perused the material on record. Since the assessee has opted for ‘Vivaad se Vishwas Scheme 2020’ and received Form-3 from the income tax department. We are of the view that, no purpose will be served in keeping the appeal pending. Accordingly, we dismiss the appeal of the assessee as withdrawn and the assessee is given liberty to move an application u/s 254(2) of the Act to recall the present order as per provisions of Law.

4.

In the result, the appeal filed by the assessee is dismissed.

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