BHAGWATI DESIGNS P. LTD ( SINCE MERGED WITH FL SMIDTH P. LTD),MUMBAI vs. ASST CIT RG 10(2), MUMBAI

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ITA 6955/MUM/2011Status: DisposedITAT Mumbai31 August 2021AY 2003-042 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal noted that the assessee had sought withdrawal of the appeal due to settlement under the Vivad Se Vishwas Scheme. Therefore, the appeal was dismissed as withdrawn.

What were the facts?

The assessee filed an appeal against the CIT(A)'s order. The assessee subsequently opted to settle the dispute under the Vivad Se Vishwas Act, 2020, and filed the necessary declaration.

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Whether the appeal should be dismissed as withdrawn due to the assessee opting for settlement under the Vivad Se Vishwas Act, 2020.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

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “B” MUMBAI

Before: SHRI MAHAVIR SINGH & SHRI S. RIFAUR RAHMAN

For Appellant: Mr. Dinesh Inbavadivu, AR
For Respondent: Ms. Bharti Singh, DR
Hearing: 31/08/2021Pronounced: 31/08/2021

ORDER PER S. RIFAUR RAHMAN, A.M. The present appeal filed by the assessee is against the order of Commissioner of Income Tax (Appeals)-21, Mumbai [in short ‘CIT(A)’] for the assessment year 2012-13 dated 13.08.2019 and arises out of assessment completed u/s 143(3) 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 15.06.2021 and submitted that it has filed the necessary declaration

M/s Bhagwati Design 2 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, and received the confirmation of Form-3. Therefore, we are inclined to dismiss the appeal as per assessee’s request as withdrawn. In case for some reason, the Revenue dismiss the plea of the assessee under Vivad Se Vishwas Scheme, 2020, it can apply to restore the matter in due course.

5.

In the result, the appeal filed by the assessee is dismissed as withdrawn.

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