What did the Tribunal hold?

The tribunal allowed the assessee to withdraw the appeal as the matter was settled under the Vivad Se Vishwas Scheme. The Revenue did not object to the withdrawal.

The assessee opted for the Direct Tax Vivad Se Vishwas Scheme, 2020 and completed the necessary forms and payment. The Competent Authority issued Form No. 3, and the assessee filed Form No. 4.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to the assessee opting for the Vivad Se Vishwas Scheme.

Intellectual Financial Advisory… vs ITO | ITAT Kolkata 2022

Income Tax Appellate Tribunal, KOLKATA BENCH ‘C’ AT KOLKATA

Before: SHRI MANISH BORAD, HON’BLE & SHRI SONJOY SARMA, HON’BLE]

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH ‘C’ AT KOLKATA [BEFORE SHRI MANISH BORAD, HON’BLE ACCOUNTANT MEMBER & SHRI SONJOY SARMA, HON’BLE JUDICIAL MEMBER] Assessment Year: 2010-11 M/s. Intellectual financial Advisory Pvt. Ltd.....................................................................Appellant C/o. Ashish Baderiya, Adarsh Nagar Colony, Near Bus Stand, Rewa Road Satna (MP), Madhya Pradesh – 485 001. [PAN: AACCI 1712 R] Vs ITO, Ward-1(2), Kolkata ..................………………………………………..................................Respondent Appearances by: Shri Chirag Desai, ACA appearing on behalf of the Assessee Shri Jayanta Khanra, JCIT appearing on behalf of the Revenue: Date of concluding the hearing : May 19, 2022 Date of pronouncing the order : May 19, 2022 ORDER PER SONJOY SARMA, JM:

This is an appeal preferred by the assessee against the order of Ld. CIT(A)-5, Kolkata dated 01.10.2019 for A.Y. 2010-11.

At the time of hearing ld, AR submitted that the assessee has opted for Direct Tax Vivad Se Vishwas Scheme, 2020 (hereinafter the ‘scheme’) and had filed Form No. 1 and form No. 2 before the Competent Authority. Thereafter, the authority had accepted it and had issued Form No.

3. Further the assessee has remitted the tax as per Form No. 3 and filed Form No. 4 also. The Competent Authority in response to the same supposed to issue Form No. 5 to the assessee. Since, the assessee-appellant has opted for Direct Tax Vivad Se Vishwas Scheme, 2020, there is no point in keeping the impugned appeal pending. Apropos the discussion (supra) and Assessment Year: 2010-11 M/s. Intellectual financial Advisory Pvt. Ltd. since the Ld. DR has not any objection in withdrawing the same. Accordingly, we allow the assessee to withdraw the instant appeal.

In the result, the appeal of the assessee is dismissed as withdrawn. Order Pronounced in the Open Court on 19th May, 2022.

INTELLECTUAL FINANCIAL ADVISORY (P) LTD,KOLKATA vs. ITO, WARD-1(2), KOLKATA

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