KSB LTD. (EARLIER KNOWN AS KSB PUMPS LTD) [HEREINAFTER REFERRED TO AS KSB INDIA,MUMBAI vs. ASST CIT LTU-1, MUMBAI

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ITA 170/MUM/2020Status: DisposedITAT Mumbai15 July 2021AY 2015-162 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal permitted the assessee to withdraw the appeal. The appeal was accordingly dismissed as withdrawn.

What were the facts?

The assessee filed an appeal against an assessment order. The assessee subsequently sought to withdraw the appeal as they had opted to settle the dispute under the Direct Tax Vivad se Vishwas Act, 2020.

What were the issues?

Whether an appeal can be withdrawn by the assessee if they have opted for settlement under the Vivad se Vishwas Act.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C(13)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCHES “K”, MUMBAI

Before: SHRI PRAMOD KUMAR, HON’BLE & SHRI SAKTIJIT DEY, HON’BLE

For Appellant: Shri Nikhil Tiwari (AR), Shri Sunil Kumar Mishra
Hearing: 15/07/2021Pronounced: 15/07/2021

O R D E R

PER SAKTIJIT DEY, JM

1.

This is an appeal by the assessee against the assessment order dated 31.10.2019 passed under section 143(3) r.w.s. 144C(13) of the Income Tax Act, 1961 for the assessment year 2015-16 in pursuance to directions of Dispute Resolution Panel (DRP).

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