RISHABH ASSOCIATES,MUMBAI vs. ACIT 16 (3), MUMBAI
In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.
What did the Tribunal hold?
The Tribunal noted that the assessee had opted for the 'Vivad se Vishwas Scheme 2020' and received the relevant form. Therefore, keeping the appeal pending would serve no purpose.
What were the facts?
The assessee filed an appeal against an order of the CIT(A). During the hearing, the assessee expressed an intention to settle the tax litigation by opting for the 'Vivad se Vishwas Scheme 2020'.
What were the issues?
Whether the appeal should be kept pending when the assessee has opted for the Vivad se Vishwas Scheme for settlement.
Which sections of the Income-tax Act were involved?
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, “D” BENCH, MUMBAI
Before: SHRI S RIFAUR RAHMAN & SHRI PAVAN KUMAR GADALE
O R D E R
PER PAVAN KUMAR GADALE, JM:
The appeal is filed by the assessee against the order of the Commissioner of Income Tax (Appeals) -30 Mumbai, passed u/s. 143(3) r.w.s 147 and 250 of the Income Tax Act, 1961.
At the time hearing, the Ld.AR of the assessee mentioned that the assessee intend to settle the tax litigation by opting for ‘Vivad se Vishwas Scheme 2020’ (VSVS2020) and filed an application in Form No. 1 & 2 Rishabh Associates, Mumbai under VSVS Rules 2020. Contra, the Ld.DR has no objections.
We heard the rival contentions and perused the material on record. Since the assessee has opted for ‘Vivaad se Vishwas Scheme 2020’ and received Form-3 from the income tax department as envisaged by the Ld.AR. We are of the view that, no purpose will be served in keeping the appeal pending. Accordingly, we dismiss the appeal of the assessee as withdrawn and the assessee is given liberty to move an application u/s 254(2) of the Act to recall the present order as per provisions of Law.
In the result, the appeal filed by the assessee is dismissed.
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