HINDUSTAN OIL EXPLORATION CO. LTD.,MUMBAI vs. ACIT - 12 (2)(2), MUMBAI

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ITA 2546/MUM/2019Status: DisposedITAT Mumbai24 June 2021AY 2008-092 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The Tribunal allowed the appeal to be withdrawn as the assessee had opted for settlement under the Vivad se Vishwas scheme. However, the assessee was granted liberty to seek restoration if the settlement was not finalized.

What were the facts?

The assessee filed an appeal before the ITAT for assessment year 2008-09. The assessee subsequently filed an application under the Direct Tax Vivad se Vishwas Act, 2020, to settle the matter.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to the assessee opting for settlement under the Vivad se Vishwas Act.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 254

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “H” MUMBAI

Before: SHRI RAJESH KUMAR & SHRI RAVISH SOOD

For Appellant: Shri Nishit Gandhi, A.R
For Respondent: Shri Gurbinder Singh, D.R
Hearing: 24/06/2021Pronounced: 24/06/2021

ORDER PER RAVISH SOOD, J.M: The present appeal filed by the assessee is directed against the order passed by the CIT(A)-20, Mumbai, which in turn arises from the order passed by the A.O under Sec. 143(3) r.w.s 254 of the Income-tax Act, 1961, dated 27.01.2017 for assessment year 2008-09.

2.

The ld. Authorised Representative (for short “A.R”) for the assessee at the very outset of the hearing of the appeal submitted that as the assessee has filed an application under the Direct Tax Vivad se Vishwas Act, 2020 in order to settle the aforesaid matter pending before the Tribunal, therefore, as instructed, the captioned appeal may be allowed to be withdrawn. Copy of Form 3 issued by the designated authority has placed on our record alongwith the assessee’s letter dated 11.05.2021.

3.

The ld. D.R did not controvert the aforesaid factual position as was canvassed before us.

4.

In view of the above, we dismiss the appeal as withdrawn, subject to a rider that in the unlikely event of the matter not being resolved under the Vivad se Vishwas scheme the assessee shall have liberty to approach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

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