ALEXIS INVESTMENTS COMPANY PVT. LTD,MUMBAI vs. INCOME TAX OFFICER WARD 2 (1) (1), MUMBAI

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ITA 5266/MUM/2019Status: DisposedITAT Mumbai31 May 2021AY 2015-162 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 assessee's appeal, citing the Vivad Se Vishvas Scheme and a Madras High Court decision. The assessee was given liberty to recall the appeal if the scheme did not succeed.

What were the facts?

The assessee filed an appeal against the CIT(A)'s order for AY 2015-16. The assessee subsequently opted for the Vivad Se Vishvas Scheme, 2020.

What were the issues?

The primary issue was the appropriate course of action for an appeal when the assessee opts for the Vivad Se Vishvas Scheme.

AI-generated summary — verify with the full judgment below

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

Before: SHRI MAHAVIR SINGH & SHRI RAJESH KUMAR

For Appellant: Shri Gehanlal Ranka, A.R
For Respondent: Ms. Shreekala Pardeshi, D.R
Hearing: 26.03.2021Pronounced: 31.05.2021

Per Rajesh Kumar, Accountant Member:

1.

The present appeal has been preferred by the assessee against the order dated 18.07.2019 of the Commissioner of Income Tax (Appeals) [hereinafter referred to as the CIT(A)] relevant to assessment year 2015-16.

2.

At the outset, the Ld. Counsel of the assessee submitted that the assessee has gone into for Vivad Se Vishvas Scheme under the Direct Tax Vivad Se Viswas Scheme 2020, therefore, the case may kindly be decided accordingly.

2 M/s. Alexis Investments Co. Pvt. Ltd. 3. Since the assessee has gone into for Vivad Se Viswas Scheme 2020, the adjournment application by the assessee is rejected. Besides, we are inclined to dismiss the appeal of the assessee in view of the decision of the Hon’ble Madras High Court Nannusamy Mohan (HUF) vs. ACIT TCA No.372 of 2020 with the liberty to assessee to get this appeal recalled in case assessee does not succeed in VSVS 2020. Accordingly, the appeal of the assessee is dismissed.

4.

In the result, the appeal of the assessee is dismissed.

Order pronounced in the open court on 31.05.2021.

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