NARESH TRADING CO.,MUMBAI vs. ACIT, CC -3(3), MUMBAI

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ITA 4597/MUM/2018Status: DisposedITAT Mumbai13 July 2021AY 1989-902 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Tribunal noted that once a matter is resolved under the Vivad Se Vishwas Scheme, the related appeal is required to be withdrawn. The Tribunal therefore dismissed the appeal as withdrawn.

What were the facts?

The assessee filed an appeal before the ITAT. The assessee subsequently filed a withdrawal petition stating the matter was settled under the Vivad Se Vishwas Scheme 2020.

What were the issues?

Whether an appeal should be withdrawn when the underlying dispute is settled under a tax settlement scheme.

Which sections of the Income-tax Act were involved?

Vivad Se Vishwas Scheme 2020

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI “H” BENCH, MUMBAI

ORDER Per Pramod Kumar, VP: 1. The assessee has moved petition seeking withdrawal of this appeal, on the ground that the matter is settled under Vivad Se Vishwas Scheme 2020.

2.

Learned Departmental Representative does not oppose the prayer so made by the assessee.

3.

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is no dispute that once the matter is resolved under Vivad Se Vishwas Scheme 2020, the related appeal is required to be withdrawn.

Assessment Year: 1989-90 Page 2 of 2

4.

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the above position, as also bearing in mind entirety of the case, we deem it fit and proper to dismiss this appeal as withdrawn.

5.

In the result, the appeal is dismissed as withdrawn.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

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