ITO, WD- 4(3)(3), MUMBAI vs. VINET FURNISHING PVT. LTD., MUMBAI

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ITA 5602/MUM/2018Status: DisposedITAT Mumbai23 August 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 it had opted for settlement under the Vivad Se Vishwas Scheme. Liberty was granted to seek restoration if the application was not accepted.

What were the facts?

The Revenue filed an appeal and the assessee filed a cross-objection against an order for assessment year 2012-13. The assessee had applied 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Whether the appeal should be dismissed as withdrawn due to the assessee opting for settlement under the Vivad Se Vishwas Act, 2020.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 “F” MUMBAI

Before: SHRI S. RIFAUR RAHMAN & SHRI RAVISH SOOD

For Appellant: Mr. Jayant, AR
For Respondent: Ms. Usha Gaikwad, DR, Mr. Jayant, AR
Hearing: 23/08/2021Pronounced: 23/08/2021

Heard together (2 matters)

CO. No. 214/MUM/2018
ITA No. 5602/MUM/2018

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

ORDER PER S. RIFAUR RAHMAN, A.M. The present appeal filed by the Revenue and cross objection filed by the assessee are against the order of Commissioner of Income Tax (Appeals)-9, Mumbai [in short ‘CIT(A)’] for the assessment year 2012-13 dated 24.07.2018 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 28.06.2021 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 M/s.

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