MEDTECH LIFE PVT LTD,MUMBAI vs. PR CIT 7, MUMBAI

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ITA 347/MUM/2020Status: DisposedITAT Mumbai21 May 2021AY 2015-162 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal noted that the assessee had opted for settlement under the Vivad se Vishwas scheme. The appeal was accordingly dismissed as withdrawn.

What were the facts?

The assessee filed an appeal against an order passed by the Pr. CIT under Section 263. The assessee subsequently filed an application under the Direct Tax Vivad se Vishwas Act, 2020, to settle the matter.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to the assessee opting for settlement under the Vivad se Vishwas scheme.

Which sections of the Income-tax Act were involved?

Section 263,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “D” MUMBAI

For Appellant: Shri Rajesh, A.R
For Respondent: Shri Bharat Andhale, D.R
Hearing: 26/04/2021Pronounced: 21/05/2021

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.

2.

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.

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In view of the above, we dismiss the appeal as withdrawn, subject to a rider that in the unlikely event of the matter not being resolved under the Vivad se Vishwas scheme the assessee shall have liberty to approach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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