VALATION FINANCE & MARKETING P.LTD,MUMBAI vs. DCIT CIRCLE-8(3)(2), MUMBAI

ITA 6454/MUM/2018Status: DisposedITAT Mumbai31 May 2021AY 2014-152 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Tribunal noted that once a matter is settled under the Vivad Se Vishwas Scheme, the related appeal is required to be withdrawn. Therefore, the Tribunal dismissed the appeal as withdrawn.

What were the facts?

The assessee filed an appeal before the ITAT. The assessee subsequently sought withdrawal of the appeal. This was based on the grounds that the matter had been settled under the Vivad Se Vishwas Scheme 2020.

What were the issues?

Whether an appeal filed before the ITAT can be withdrawn if the underlying dispute has been settled under the Vivad Se Vishwas Scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “F” BENCH, MUMBAI

Before: SHRI SHAMIM YAHYA, AM & SHRI AMARJIT SINGH, JM

For Appellant: Shri Chirag Parekh

Hearing: 31/05/2021Pronounced: 31/05/2021

O R D E R PER AMARJIT SINGH (JM):

1. 1. The assessee has moved petition seeking withdrawal of the 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is no dispute that once the matter is resolved under Vivad Se Vishwas Scheme 2020, the related appeal is required to be withdrawn.

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of the above position, as also bearing in mind entirely of the case, we deem it fit and proper to dismiss the appeal as withdrawn.

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