ACIT 13(3)(2), MUMBAI vs. YOU BRODBAND & CABLE INDIA LTD, MUMBAI

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ITA 7596/MUM/2016Status: DisposedITAT Mumbai14 September 2021AY 2012-133 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 Tribunal permitted the assessee to withdraw the appeal as the dispute was settled under the Vivad Se Vishwas Scheme. Liberty was granted to seek restoration if the scheme application was not accepted.

What were the facts?

The Revenue and the assessee filed appeals against the common order of the CIT(A) for AY 2012-13. The assessee had opted to settle the issue under the Vivad Se Vishwas Act, 2020.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to the assessee opting for settlement under the Vivad Se Vishwas Act, 2020.

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, MUMBAI BENCH “G” MUMBAI

Before: SHRI AMARJIT SINGHAND SHRI MANOJ KUMAR AGGARWAL

For Respondent: Ms. Urvi Mehta, AR
Hearing: 14/09/2021

Heard together (2 matters)

ITA. No. 7612/MUM/2016
ITA No. 7596/Mum/2016

Read from the judgment's own cause title. This page is filed under one of them.

2 A.Y.2012-13 ORDER PER : AMARJIT SINGH, (JM) The present appeal filed by the Revenue as well as assessee are against the common order of Commissioner of Income Tax (Appeals)-21, Mumbai [in short ‘CIT(A)’] for the assessment year 2012-13 dated 17.10.2016 and arises out of assessment completed u/s 143(3) r.w.s. 147 of the Income Tax Act, 1961 (in short the Act).

2.

At the outset, the Ld. AR submitted that assessee has preferred to settle the issue under Vivad Se Vishwas Act, 2020 and relevant information is filed vide letter dated 16.02.2021 and submitted that it has filed the necessary declaration under Direct Tax Vivad se Vishwas Act, 2020 (Act 3 of 2020) and confirmed the receipt of Form-3.

3.

The Ld. DR also did not object to course so suggested.

4.

Heard the learned Counsels for both the parties and perused material on record. Considering the fact that the assessee has sought withdrawal of the present appeal, as it has applied for settling the dispute under Vivad Se Vishwas Scheme, 2020, we permit the assessee to withdraw the appeal at this stage. However, liberty is granted to the assessee to seek restoration of this appeal in the event the application filed under Vivad Se Vishwas Tax Scheme is not accepted by the Department. It is further made clear that in such eventuality if the assessee seeks restoration of the present appeal by filing misc. application, the delay, if any, should be condoned without insisting upon filing any application for condonation of delay. This is in view of the decision of the Hon’ble Madras High Court in order dated 16th October 2020, delivered in 3 A.Y.2012-13 M/s. Nannusamy Mohan (HUF) v/s ACIT, TCA no.372 of 2020. With the aforesaid observations, the appeal is dismissed as withdrawn.

5.

In the result, the appeal filed by the Revenue and the appeal filed by the assessee are dismissed as withdrawn.

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