LIC HOUSING FINANCE LTD,MUMBAI vs. ADDL CIT RG 2(2), MUMBAI

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ITA 4003/MUM/2013Status: DisposedITAT Mumbai13 July 2021AY 2008-093 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that once a matter is resolved under the Vivad Se Vishwas Scheme, related appeals must be withdrawn. Consequently, the Tribunal decided to dismiss all the appeals as withdrawn.

What were the facts?

The Income Tax Appellate Tribunal (ITAT) heard appeals filed by both the Assessing Officer and the assessee. The assessee filed a petition to withdraw their appeal, stating the matter was settled under the Vivad Se Vishwas Scheme 2020. The revenue's counsel also agreed to withdraw their appeal.

What were the issues?

The primary issue was the withdrawal of appeals due to settlement under the Vivad Se Vishwas Scheme. The Tribunal had to decide on the appropriate course of action for the pending appeals.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI ‘A’ BENCH, MUMBAI

O R D E R Per Bench:-

1.

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.

2.

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.

3.

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 DR has also filed withdrawal letter of this appeal and agreed that the appeal of the revenue may also be dismissed as withdrawn with similar right of revival of the appeal.

4.

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no dispute that once the matter is resolved under Vivad Se Vishwas Scheme 2020, the related appeals are required to be withdrawn.

5.

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above position, as also bearing in mind entirety of the case, we deem it fit and proper to dismiss these appeals as withdrawn.

6.

In the result, these appeals are dismissed as withdrawn.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

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