OERLIKON TEXTILE INDIA P.LTD,MUMBAI vs. ASST CIT CIR 3(2)(2), MUMBAI

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ITA 2042/MUM/2017Status: DisposedITAT Mumbai08 July 2021AY 2012-133 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the assessee had applied under the Vivad Se Vishwas Scheme and received Form-5. Both parties agreed to this development.

What were the facts?

The assessee filed an appeal against the final assessment order. During the pendency of the appeal, the assessee opted for the Vivad Se Vishwas Scheme, 2020, to settle the tax dispute.

What were the issues?

The primary issue was the pendency of the appeal in light of the assessee's settlement under the Vivad Se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C(13),Section 144C(5)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘J‘ BENCH

Before: SHRI VIKAS AWASTHY & SHRI M.BALAGANESH

For Appellant: Shri Nishant Shah
For Respondent: Shri Manpreet Singh Duggle
Hearing: 08/07/2021Pronounced: 08/07/2021

आदेश / O R D E R PER M. BALAGANESH (A.M): This appeal in A.Y.2012-13 preferred by the order against the final assessment order passed by the Assessing Officer dated 30/01/2017 u/s.143(3) r.w.s.144C(13) of the Income Tax Act, hereinafter referred to as Act, pursuant to the directions of the ld. Dispute Resolution Panel (DRP in short) u/s.144C(5) of the Act dated 06/12/2016 for the A.Y.2012-13.

M/s.Oerlikon Textile India P. Ltd.,

2.

We find that the ld. AR filed a letter dated 07/07/2021 mentioning that assessee had preferred an application under direct tax “Vivad Se Viswas Scheme 2020” to settle this tax dispute for the year under consideration and had obtained Form-5 from the designated authority thereon, copy of which was enclosed alongwith this letter. Ld. DR also agreed that the Form-5 has been received.

3.

In view of this, we hereby dismiss the appeal pending before us.

4.

In the result, appeal of the assessee is dismissed as withdrawn.

Order pronounced in open Court on 08/07/2021.

1.

Sd/- Sd/- (VIKAS AWASTHY) (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai; Dated 08/07/2021 KARUNA, sr.ps

M/s.Oerlikon Textile India P. Ltd.,

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