DCIT 2(2), MUMBAI vs. LIC HOUSING FINANCE LTD, MUMBAI

These appeals, filed by the Assessing Officer as well as assessee, call into question the correctness of the orders, passed by the Ld. CIT(A)-5, Mumbai in the matter of assessment u/s.143(3) of the Income Tax Act, 1961.

When these appeals were called out for hearing, the assessee has moved petition seeking withdrawal of the appeal and the assessee has also filed Form 5 on the ground that the matter is settled under Vivad Se Vishwas Scheme 2020.

The ld. DR has also filed withdrawal letter of this appeal and agreed that the appeal of the revenue may also be dismissed as withdrawn with similar right of revival of the appeal.

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no dispute that once the matter is resolved under Vivad Se Vishwas Scheme 2020, the related appeals are required to be withdrawn.

In view of the above position, as also bearing in mind entirety of the case, we deem it fit and proper to dismiss these appeals as withdrawn.

In the result, these appeals are dismissed as withdrawn. Pronounced in the open court today on the 13th day of July 2021.