SHREE NAMAN SECURITIES & FINANCE PVT LTD.,MUMBAI vs. DY CIT CIR. 5(4), MUMBAI

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ITA 1379/MUM/2020Status: DisposedITAT Mumbai07 September 2021AY 2010-112 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 Viswas Scheme. Consequently, the appeal was treated as dismissed and withdrawn, with liberty to restore it if the declaration under the scheme is declared bad in law.

What were the facts?

The assessee filed an appeal before the ITAT. Subsequently, the assessee filed an application under the Vivad Se Viswas Scheme, 2020, to settle the tax dispute for the relevant assessment year.

What were the issues?

The primary issue was the impact of the assessee opting for the Vivad Se Viswas Scheme on the pending appeal before the Tribunal.

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, ‘E‘ BENCH

Before: SHRI M.BALAGANESH & SHRI AMARJIT SINGH

For Appellant: Shri Mahesh Rajora
For Respondent: Shri Rohit Kumar
Hearing: 07/09/2021Pronounced: 07/09/2021

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

1.

This appeal in A.Y.2010-11 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-53, Mumbai in appeal No.CIT(A)-53/IT-426/DCCC-5(4)/2017-18 dated 16/12/2019 (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 to as Act) dated 22/01/2013 by the ld. Asst. Commissioner of Income Tax, Central Circle 37, Mumbai (hereinafter referred to as ld. AO).

Shree Naman Securities & Finance Pvt. Ltd.,

2.

We find that the assessee filed a letter dated 06/09/2021 mentioning that an application had been preferred under direct tax “Vivad Se Viswas Scheme 2020” to settle this tax dispute for the year under consideration and had obtained Form-3 from the designated authority thereon, copy of which was enclosed alongwith this letter.

3.

In view of this, we hereby treat the appeal pending before us as dismissed and withdrawn with a liberty given to the assessee to get the appeal restored in the event that assessee’s declaration made under “Vivad Se Viswas Scheme 2020” is declared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, appeal of the assessee is dismissed.

Order pronounced in open Court on 07/09/2021.

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