HANSA LALIT SONI,MUMBAI vs. ITO 23(2)(3), MUMBAI

A letter dated 16/02/2021 has been received from the assessee stating that the assessee has opted for 'Vivad Se Vishwas Scheme, 2020'( in short 'VSVS') and hence, wants to withdraw the appeal subject to issue of Form-5 by the Designated Authority.

Shri Sanjay J. Seth representing the Department stated that the Department has no objection if the assessee wants to withdraw appeal to avail the benefit of VSVS'.

A perusal of above letter shows that the assessee's declaration under VSVS for the impugned assessment year has been accepted and the Designated Authority has issued Form-3. The assessee at this stage is seeking conditional withdrawal, subject to issuance of Form-5 by the Designated Authority. In view of above, the appeal by assessee is dismissed as withdrawn at this stage.

Liberty is granted to the assessee to revive appeal in the event declaration filed by the assessee under VSVS fails to mature. It is further made clear that if the assessee/appellant seeks to restore the appeal in the event assessee’s declaration under VSVS is not accepted, the Registry shall not insist for filing of application for condonation of delay, if the Miscellaneous Application for recalling the order is filed beyond time on account of delay in communication of outcome under VSVS [Re. M/s. Nannusamy Mohan(HUF) vs. ACIT in T.C.A No.372 of 2020 decided on 16/10/2020 by Hon’ble Madras High Court].

In the result, appeal by assessee is dismissed at this stage with the liberty aforesaid.