STANDARD INDUSTRIES LTD,MUMBAI vs. DCIT CIR 3(3), MUMBAI

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ITA 7263/MUM/2017Status: DisposedITAT Mumbai28 April 2021AY 2010-113 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal permitted the assessee to withdraw the appeal based on their application under the Vivad Se Vishwas Scheme. The appeal was dismissed as withdrawn.

What were the facts?

The assessee filed an appeal against the order of the Commissioner (Appeals). Subsequently, the assessee sought to withdraw the appeal as they had opted for the Vivad Se Vishwas Tax Scheme, 2020.

What were the issues?

Whether the assessee can withdraw their appeal after opting for the Vivad Se Vishwas Scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “G” BENCH, MUMBAI

Before: SHRI MAHAVIR SINGH & SHRI S. RIFAUR RAHMAN

For Appellant: Shri Ninad Patade
For Respondent: Shri T.S. Khalsa

Date of Hearing – 28.04.2021 Date of Order – 28.04.2021 O R D E R PER S. RIFAUR RAHMAN, A.M.

The aforesaid appeal has been filed by the assessee challenging the order dated 13th September 2017, passed by the learned Commissioner (Appeals)–8, Mumbai, pertaining to the assessment year 2010–11.

2.

Considered the submissions of the parties and perused the material on record. The assessee, vide its letter dated 25th January 2021, has prayed for withdrawal of its appeal in view of the fact that it has applied for settling the tax dispute under the Vivad Se Vishwas

2 Standard Industries Ltd.

Tax Scheme, 2020. The letter submitted by the assessee is accompanied by a copy of Certificate in Form–3 issued by the Revenue are kept on record.

3.

The learned Departmental Representative has no objection for withdrawal of the appeal by the assessee.

4.

Considering the fact that the assessee has sought withdrawal of the present appeal, as the assessee has applied for settling the dispute under Vivad Se Vishwas Scheme, 2020, we permit the assessee to withdraw the appeal at this stage since the Department issued Form no.3. With these observations, the appeal by the assessee as well as Revenue is liable to be dismissed as withdrawn.

5.

In the result, appeals s dismissed as withdrawn. Order pronounced in the open court on 28.04.2021

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