LAKSHON ELECTRONICS PVT. LTD.,MUMBAI vs. DCIT , CC - 5(1), MUMBAI

The assessee has filed the appeal against the order of the Commissioner of Income Tax (Appeals) - 53, Mumbai, passed u/s. 143(3) r.w.s 147 and 250 of the Income Tax Act, 1961. M/s Lakshon Electronics Pvt Limited Mumbai 2

At the time hearing, the Ld.AR of the assesse has filed a letter mentioning that the assesse intend to settle the tax litigation by opting for ‘Vivad se Vishwas Scheme 2020’(VSVS2020) and filed an application under VSVS Rules 2020. Contra, the Ld. DR has no objections.

We heard the rival submissions and perused the material on record. Since the assesse has opted for ‘Vivaad se Vishwas Scheme 2020’ and the Ld.AR has filed a letter mentioning that the assesse has applied under VSVS 2020 and has received Form-3 from the Income Tax Department. We are of the view that, no purpose will be served in keeping the appeal pending. Accordingly, we dismiss the appeal of the assesse as withdrawn and the assesse is given liberty to move an application u/s 254(2) of the Act to recall the present order as per provisions of Law.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.