TENOVA HYPERTHERM PVT. LTD. (AMALGAMATED WITH TENOVA INDIA PVT. LTD.),MUMBAI vs. ACIT CIR. 11(3)(1), MUMBAI

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ITA 5214/MUM/2016Status: DisposedITAT Mumbai25 March 2021AY 2011-126 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal accepted the assessee's request for withdrawal of appeals for all assessment years. The appeals were dismissed as withdrawn because the assessee had opted for the Vivad Se Vishwas Scheme and filed the necessary declarations and undertakings.

What were the facts?

The assessee filed appeals for assessment years 2010-11, 2011-12, and 2012-13. For A.Y. 2011-12 and 2012-13, the assessee sought withdrawal of appeals due to opting for the Vivad Se Vishwas Scheme. The same scheme was also opted for A.Y. 2010-11.

What were the issues?

Whether the appeals should be dismissed as withdrawn due to the assessee opting for the Vivad Se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Section 144C(5)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VIRTUAL COURT

Before: SHRI C.N. PRASAD, HONBLE & SHRI M. BALAGANESH, HONBLE

For Appellant: Shri Pranav Shah
For Respondent: Shri Manpreeet S. Duggle
Hearing: 25.03.2021Pronounced: 25.03.2021
1.

These appeals are filed by the assessee against different orders of Dispute Resolution Panel-II, Mumbai [hereinafter in short “DRP”] for the A.Ys. 2010-11, 2011-12 and A.Y.2012-13 passed u/s. 144C(5) of the Act and cross appeal is filed by the Revenue for A.Y. 2010-11.

2.

In so far as appeal for A.Y. 2010-11 is concerned, Ld. Counsel for the assessee submitted that assessee opted for Vivad Se Vishwas Scheme and filed declaration and undertaking in Form-1 to settle the litigation and Form 3 is awaited from the Revenue. Coming to the appeals for the A.Y.2011-12 and A.Y. 2012-13, Ld. Counsel for the assessee through mail filed a letter dated 19.03.2021 issued by the assessee and sought for withdrawal of both the appeals. Contents of the letter in ITA.No.5214/Mum/2016 (A.Y. 2011-12) are as under: - “Name of the Assessee TAKRAF INDIA PRIVATE LIMITED (Successor of amalgamating company TENOVA HYPERTHERM PRIVATE LIMITED) ('THPL' or 'Company' or 'the Appellant') Assessment Year ('AY') 2011-12 PAN AAMCS6453Q (PAN of amalgamating company is AACCT3824E)

4 & 1631/MUM/2015 (A.Y: 2010-11) (A.Y: 2011-12) ITA NO. 2133/MUM/2017 (A.Y: 2012-13) M/s. Tenova Hypertherm Pvt. Ltd., Appeal No ITA 5214 /MUM /2016 Subject Withdrawal of Appeal/s on account of application under The Direct Tax Vivad Se Vishwas Act, 2020 ('VSV Act) This is with reference to the captioned appeal filed by the Appellant before the Income Tax Appellate Tribunal, Mumbai on August 18, 2016. The acknowledgment of filing the appeal is enclosed as Annexure 1. In this regard, it is most humbly submitted that for the captioned Assessment Year 2011-12, the Appellant has filed a declaration in the-Form-1 under the provisions of section 4(1) of the VSV Act on the issues covered under the captioned appeal The Appellant has also furnished an undertaking in Form-2 under the provisions of section 4(5) of the VSV Act. Subsequently, the Appellant has been granted a certificate by the Designated Authority in Form-3 under the provisions of section 5(1) of the VSV Act on December 21, 2020, Copy of action in Form 1 & 2 along-with. certificate in Form 3 is enclosed as Annexure 2. In view of the provisions of section 4(2) of the VSV Act, the captioned appeal shall be deemed to have been withdrawn from the date on which certificate under section 5(1) of the VSV Act is issued ie, December 21, 2020, It is most humbly submitted that your Honour may allow the withdrawal of appeal with a liberty to revive it again., in case the declaration, made under the above mentioned provisions of the VSV Act is rejected or withdrawn or cancelled and/or in a case where the order under section 5 of the VSV Act is not issued/acceptable to the Appellant. We trust that your Honour would accede to our above request and grant leave to withdraw the captioned appeal. We shall be pleased to submit any other information that your Honour may require in this regard.”

3.

On a perusal of the above letter and the enclosed copies of Form-3 it is noticed that assessee has already filed declaration and undertaking in Form-1 under Vivad Se Vishwas Scheme and received Form-3 from the 5 & 1631/MUM/2015 (A.Y: 2010-11) (A.Y: 2011-12) ITA NO. 2133/MUM/2017 (A.Y: 2012-13) M/s. Tenova Hypertherm Pvt. Ltd., Revenue accepting the said declaration. Assessee requested for withdrawal of the appeals. Accepting the request of the assessee for withdrawal of appeals for the A.Y. 2011-12 and A.Y. 2012-13, these appeals are dismissed as withdrawn. The appeal for A.Y. 2010-11 is also dismissed as withdrawn since the assessee has already filed Form-1 and 2 opting to settle the dispute under Vivad Se Vishwas Scheme pending Form-3. In case the revenue is not accepting the proposal of the assessee the assessee/revenue are at liberty to file Miscellaneous Application for recall of the appeal for hearing on merits. With these observations appeal for A.Y. 2010-11 is also dismissed as withdrawn.

4.

In the result, appeals of the assessee as well as revenue are dismissed as withdrawn.

Order pronounced in the virtual court on 25.03.2021.

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