COMPOSIT BUILDING TECHNOLOGIES P. LTD.,MUMBAI vs. ITO, WARD -3(1)(3), MUMBAI

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ITA 1335/MUM/2020Status: DisposedITAT Mumbai02 September 2021AY 2009-102 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The Tribunal dismissed the appeal as withdrawn, acknowledging the assessee's settlement under the Vivad se Vishwas scheme. A condition was added allowing restoration of the appeal if the settlement is not finalized.

What were the facts?

The assessee company filed an appeal against an assessment order. Subsequently, the assessee filed an application under the Direct Tax Vivad se Vishwas Act, 2020, to settle the matter. The assessee received Form No. 3, indicating the settlement process is underway.

What were the issues?

Whether the appeal should be withdrawn due to the assessee opting for settlement under the Vivad se Vishwas Act, 2020.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 144,Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “C” MUMBAI

Before: SHRI SHAMIM YAHYA & SHRI RAVISH SOOD

For Appellant: Shri Abhishek Jhunjhunwala, A.R
For Respondent: Ms. Shreekala Pardeshi, D.R
Hearing: 02/09/2021Pronounced: 02/09/2021

ORDER PER RAVISH SOOD, J.M: The present appeal filed by the assessee company is directed against the order passed by the CIT(A)-8, Mumbai, dated 30.01.2020, which in turn arises from the assessment order passed by the A.O under Sec. 144 r.w.s 147 of the Income-tax Act, 1961, dated 26.03.2015 for assessment year 2009-10.

2.

The assessee has filed before us a letter dated 31.08.2021, wherein it is inter alia stated that it had filed an application under the Direct Tax Vivad se Vishwas Act, 2020 in Form 1 & 2 in order to settle the aforesaid matter pending before the Tribunal. It is further stated by the assessee that it had received the ‘Form No. 3’. In support of his aforesaid claim the assessee had enclosed alongwith his letter copy of the ‘Form No. 3’ issued by the designated authority. It is submitted by the assessee that in the backdrop of the aforesaid facts the captioned appeal may be allowed to be withdrawn.

Composite Building Technologies Pvt. Ltd. Vs. ITO, Ward 3(1)(3), Mumbai A.Y 20009-10 3. The ld. D.R did not controvert the aforesaid factual position as was canvassed before us.

4.

In view of the above, we dismiss the appeal as withdrawn, subject to a rider that in the unlikely event of the matter not being resolved under the Vivad se Vishwas scheme, then, the assessee shall have liberty to approach the Tribunal for restoration of its aforementioned appeal.

5.

Resultantly, the appeal is dismissed as withdrawn subject to the observations recorded hereinabove.

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