M/S. L K TRUST,BENGALURU vs. THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 8(1), BENGALURU

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ITA 1967/BANG/2019Status: DisposedITAT Bangalore08 March 2021AY 2008-092 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 the assessee had opted for settlement under the Vivad Se Vishwas Act. Therefore, it was deemed purposeless to keep the appeals pending.

What were the facts?

The assessee filed three appeals before the ITAT for assessment years 2002-03, 2008-09, and 2009-10. The assessee had opted to settle these disputes under the Direct Tax Vivad Se Vishwas Act, 2020.

What were the issues?

Whether appeals should be kept pending when the assessee has opted for settlement under a specific tax dispute resolution scheme.

Which sections of the Income-tax Act were involved?

Direct Tax Vivad Se Vishwas Act, 2020

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C’’ BENCH: BANGALORE

Before: SHRI N.V. VASUDEVAN & SHRI B.R. BASKARAN

For Appellant: Shri V. Sridhar, A.R
For Respondent: Smt. R. Premi, D.R
Hearing: 08.03.2021Pronounced: 08.03.2021

BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER Assessment Year: 2002-03 M/s. L.K. Trust Deputy Commissioner of No.9, Seshadri Road Income-tax (formerly) Bengaluru 560 001 Vs. Circle-8(1) – (Now ITO Ward-5(2)(3), PAN NO : AAATL0522A Bengaluru APPELLANT RESPONDENT ITA No.1967& 1968/Bang/2019 Assessment Year: 2008-09 & 2009-10 M/s. L.K. Trust ACIT (formerly), No.9, Seshadri Road Circle-8(1) – Bengaluru 560 001 Vs. (Now ITO Ward-5(2)(3), Bengaluru PAN NO : AAATL0522A APPELLANT RESPONDENT Appellant by : Shri V. Sridhar, A.R. Respondent by : Smt. R. Premi, D.R. Date of Hearing : 08.03.2021 Date of Pronouncement : 08.03.2021 O R D E R PER BENCH: The assessee has filed these three appeals challenging the orders passed by Ld CIT(A)-12, Bengaluru and they relate to the assessment years 2002-03, 2008-09 and 2009-10.

2.

The Ld Counsel for the assessee has furnished a letter stating that the assessee has opted to settle the disputes of the above said years under Direct Tax Vivad Se Vishwas Act and has also filed Form ITA Nos.1966 to 1968/Bang/2019 M/s .L.K. Trust, Bengaluru Page 2 of 2 No.1 & 2. The Ld A.R submitted that the assessee is awaiting Form No.3. Accordingly the Ld A.R submitted that these appeals may be adjourned. The Ld A.R submitted the Bangalore benches of Tribunal is dismissing the appeals in such kinds of cases giving liberty to the assessee to seek recall of the order, if something goes wrong.

3.

We heard Ld D.R and perused the record. Since the assessee has opted to settle the disputes of these three years under Direct Tax Vivad Se Vishwas Act, 2020, we are of the view that no purpose will be served in keeping these three appeals pending. Accordingly we dismiss these appeals of the assessee as withdrawn. However, the assessee is given liberty to move appropriate application for recall of the order of all or any of the years in accordance with the law, if the assessee intends to do so.

4.

In the result, all the three appeals of the assessee are dismissed as withdrawn. Order pronounced in the open court on 8th Mar, 2021.

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