LARSEN AND TOUBRO LTD,MUMBAI vs. ASST CIT RG 26(2), MUMBAI

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ITA 959/MUM/2016Status: DisposedITAT Mumbai01 July 2021AY 2011-123 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 opted for the 'Vivad se Vishwas Scheme 2020' and received Form-3. Therefore, keeping the appeal pending would serve no purpose.

What were the facts?

The assessee intended to settle their tax litigation by opting for the 'Vivad se Vishwas Scheme 2020'. They filed the necessary application under the scheme.

What were the issues?

Whether the appeal should be kept pending when the assessee has opted for the Vivad se Vishwas Scheme for settlement.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C,Section 254(2)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “K” BENCH, MUMBAI

For Appellant: Ms Abilasha Desai, AR
For Respondent: Shri SushilKumarMishra, DR
Hearing: 01.07.2021Pronounced: 01.07.2021

O R D E R

PER PAVAN KUMAR GADALE JM:

1.

The assessee has filed the appeal against the order of the Assessing Officer passed u/s 143(3) r.w.s 144C of the Income Tax Act, 1961 in pursuance to the directions of Dispute Resolution Panel.

2.

At the time hearing, the Ld. AR of the assessee submitted that the assessee is intend to settle the tax M/s. L&T Pvt Ltd, Mumbai litigation by opting for ‘Vivad se Vishwas Scheme 2020’ (VSVS2020) and filed an application in Form No. 1 & 2 under VSVS Rules 2020. Contra, the Ld. DR has no objections.

3.

We heard the rival contentions and perused the material on record. Since the assessee has opted for ‘Vivaad se Vishwas Scheme 2020’ and received Form-3 from the income tax department. We are of the view that, no purpose will be served in keeping the appeal pending. Accordingly, we dismiss the appeal of the assessee as withdrawn and the assessee is given liberty to move an application u/s 254(2) of the Act to recall the present order as per provisions of Law.

4.

In the result, the appeal filed by the assessee is dismissed.

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