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Income Tax Appellate Tribunal, MUMBAI BENCH “D” MUMBAI
ORDER PER RAVISH SOOD, J.M: The present appeal filed by the assessee is directed against the order passed by the Pr. CIT-7, Mumbai, dated 27.11.2019 under Sec. 263 of the Income-tax Act, 1961 which in turn arises from the assessment order passed by the A.O under Sec.143(3) of the Act, dated 26.10.2017 for assessment year 2015-16.
The assessee’s counsel has e-filed a letter dated 25th April, 2021, wherein it is stated that the assessee company has filed an application under the Direct Tax Vivad se Vishwas Act, 2020 in Form 1 & Form 2 in order to settle the aforesaid matter pending before the Tribunal. It is further stated that the assessee company has been issued Form 3 by the designated authority.
The ld. D.R did not controvert the aforesaid factual position as was stated before us.
In view of the above, we dismiss the appeal as withdrawn, subject to a rider that in the unlikely event of the matter not being resolved under the Vivad se Vishwas scheme the assessee shall have liberty to approach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.