HBO PACIFIC PARTNERS V.O.F.,MUMBAI vs. THEDY. DIRECTOR OF I.TAX-(I.T) RANG E 3(1), MUMBAI

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ITA 3782/MUM/2010Status: DisposedITAT Mumbai28 June 2021AY 2004-053 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the assessee had opted for the 'Vivad se Vishwas Scheme' and received the necessary form. Therefore, keeping the appeal pending would serve no purpose.

What were the facts?

The assessee filed an appeal against an order of the CIT(A). During the hearing, the assessee expressed an intention to settle the tax litigation under the 'Vivad se Vishwas Scheme 2020'.

What were the issues?

Whether the appeal should be kept pending when the assessee has opted for a settlement scheme. The applicability of the 'Vivad se Vishwas Scheme' for resolving tax litigation.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 250,Section 254(2)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “I” BENCH, MUMBAI

For Appellant: Shri P. Chandramaniya, AR
For Respondent: Shri S.S. Iyengar, DR
Hearing: 28.06.2021Pronounced: 29.06.2021

O R D E R

PER PAVAN KUMAR GADALE JM:

1.

The assessee has filed the appeal against the order of the Commissioner of Income Tax (Appeals)-10, Mumbai, passed u/s. 143(3) and 250 of the Income Tax Act, 1961.

2.

At the time hearing, the AR of the assessee has filed a letter mentioning that the assessee intend to settle the tax litigation by opting for ‘Vivad se Vishwas Scheme 2020’ (VSVS2020) and filed an application in Form No. 1 HBO Pacific Partners VOF, Mumbai & 2 under VSVS Rules 2020. Contra, the Ld. DR has no objections.

3.

We heard the rival submissions and perused the material on record. Since a letter was filed mentioning that 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 Accordingly, we dismiss the appeal of the assessee as withdrawn and the assessee is given liberty to move an application u/s 254(2) of the Act to recall the present order as per provisions of Law.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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