M/S MUMBAI MANTRA MEDIA LTD.,MUMBAI vs. ACIT 16 (1), MUMBAI

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ITA 360/MUM/2020Status: DisposedITAT Mumbai06 July 2021AY 2012-132 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 allowed the assessee's petition to withdraw the appeal. The appeal was dismissed as withdrawn, with a liberty to seek restoration if the Vivad Se Vishwas settlement failed.

What were the facts?

The assessee filed an appeal before the ITAT. The assessee subsequently filed a petition seeking withdrawal of the appeal. The reason for withdrawal was that the matter had been settled under the Vivad Se Vishwas Scheme 2020.

What were the issues?

Whether an appeal filed before the ITAT can be withdrawn when the underlying dispute has been settled under the Vivad Se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Vivad Se Vishwas Scheme 2020

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI ‘F’ BENCH, MUMBAI

O R D E R Per Pramod Kumar, VP:

1.

The assessee has moved petition seeking withdrawal of this appeal, on the ground that the matter is settled under Vivad Se Vishwas Scheme 2020.

2.

Learned Departmental Representative does not oppose the prayer so made by the assessee.

3.

There is no dispute that once the matter is resolved under Vivad Se Vishwas Scheme 2020, the related appeal is required to be withdrawn.

4.

In view of the above, we dismiss the appeal as withdrawn, subject to be rider that in the unlikely event of matter not being resolved under the Vivad se Vishwas scheme, the assessee shall have liberty to approach the Tribunal for restoration of his appeal.

Assessment Year: 2012-13 Page 2 of 2

5.

In the result, the appeal is dismissed as withdrawn. Pronounced in the open court today on the 6th day of July 2021.

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