FULFORD (INDIA) LTD,MUMBAI vs. ASST CIT (OSD) 2(1), MUMBAI

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ITA 6624/MUM/2011Status: DisposedITAT Mumbai24 June 2021AY 2004-053 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' and received the relevant form. Therefore, keeping the appeals pending would serve no purpose.

What were the facts?

The assessee filed two appeals against orders of the CIT(Appeals). During the hearing, the assessee expressed an intention to settle the tax litigation by opting for the 'Vivad se Vishwas Scheme 2020'.

What were the issues?

The primary issue was the pendency of appeals when the assessee chose to settle the tax dispute under a specific scheme.

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, “K” BENCH, MUMBAI

Before: SHRI SHAMIM YAHYA & SHRI PAVAN KUMAR GADALE

For Appellant: Shri Madhur Agarwal, AR
For Respondent: Shri Anand Mohan, CIT(DR)
Hearing: 24.06.2021Pronounced: 25.06.2021

O R D E R PER PAVAN KUMAR GADALE JM: These two appeals are filed by the assessee against separate orders of the Commissioner of Income Tax (Appeals) -15, Mumbai, order passed u/s 143(3) and 250 of the Income Tax Act, 1961.

2.

At the time hearing, the Ld. AR of the assessee submitted a letter dt 23.06.2021 mentioning that the assessee intend to settle the tax litigation by opting for ‘Vivad se Vishwas Scheme 2020’ (VSVS2020) and filed an & 6624/Mum/2011 Fulford India Pvt Ltd., Mumbai. application in Form No. 1 & 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 the assessee has opted for ‘Vivaad se Vishwas Scheme 2020’ and received Form-3 from the income tax department as mentioned by the Ld.AR. We are of the view that, no purpose will be served in keeping the appeal pending. Accordingly, we dismiss the appeals of the assessee as withdrawn and the assessee is given liberty to move an application u/s 254(2) of the Act to recall the present order as per provisions of Law.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, both the appeals filed by the assessee are dismissed.

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