M/S RAKESH UDYOG,THANE vs. ITO-19(3)(1), MUMBAI

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ITA 1943/MUM/2019Status: DisposedITAT Mumbai03 June 2021AY 2010-112 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The Tribunal dismissed the appeal as withdrawn, noting that the assessee had opted for the Vivad se Vishwas scheme. Liberty was granted to approach the Tribunal for restoration if the scheme did not resolve the matter.

What were the facts?

The assessee filed an appeal against an assessment order. The assessee later filed an application under the Direct Tax Vivad se Vishwas Act, 2020, to settle the matter.

What were the issues?

The primary issue was the pendency of the appeal before the Tribunal, which was resolved by the assessee's decision to settle the dispute under the Vivad se Vishwas scheme.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “D” MUMBAI

For Appellant: Shri Anki Bubna, A.R
For Respondent: Shri Bharat Andhale, D.R
Hearing: 29/04/2021Pronounced: 03/06/2021

ORDER PER RAVISH SOOD, J.M: The present appeal filed by the assessee is directed against the order passed by the CIT(Appeals)-3, Mumbai, dated 03.12.2018, which in turn arises from the assessment order passed by the A.O under Sec.143(3) r.w.s. 147 of the Act, dated 17.02.2016 for assessment year 2010-11.

2.

The assessee’s counsel had stated that the assessee firm had filed an application under the Direct Tax Vivad se Vishwas Act, 2020 in order to settle the aforesaid matter pending before the Tribunal and has been issued Form 4 by the designated authority.

3.

The ld. D.R did not controvert the aforesaid factual position as was stated 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In view of the above, we dismiss the appeal as withdrawn, subject to a rider that in the unlikely event of the matter not being resolved under the Vivad se Vishwas scheme the assessee shall have liberty to approach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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