CIT (IT)-4(2)(2), MUMBAI vs. STANDARD CHARTERED MASTERBRAND LICESING LTD(FORMERLY KNOWN AS STANDARD CHARTEREDSTRATEGIC BRAND MANAGEMENT LTD.), PALGHAR

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ITA 7022/MUM/2018Status: DisposedITAT Mumbai25 March 2021AY 2011-122 pages

In favour of the assessee: the Revenue'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 filed the necessary declaration under the Vivad se Vishwas scheme. The Revenue did not object to the withdrawal of the appeal.

What were the facts?

The Revenue filed an appeal against the order of the CIT(A) for Assessment Year 2011-12. The assessee's counsel informed the tribunal that a declaration under the Direct Tax Vivad se Vishwas Act, 2020 had been filed.

What were the issues?

Whether the appeal filed by the Revenue should be withdrawn based on the assessee's declaration under the Vivad se Vishwas scheme.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, “I” BENCH, MUMBAI

Before: SHRI VIKAS AWASTHY, JM &

For Appellant: Shri S. S. Iyengar, DR
Hearing: 25/02/2021Pronounced: 25/03/2021

आदेश / O R D E R

PER S. RIFAUR RAHMAN, ACCOUNTANT MEMBER:

1.

The present appeal has been filed by the revenue against the order dated 28.09.2018 passed by Ld. Commissioner of Income Tax (Appeals)- 58, Mumbai [hereinafter referred to as the “Ld. CIT(A)”] relevant to A.Y. 2011-12.

2.

At the outset, when the appeal was called out for hearing, the Ld. Counsel of the assessee submitted that she has filed the necessary declaration under Direct Tax Vivad se Vishwas Act, 2020 (Act 3 of 2020). She confirmed the receipt of Form-3 and prayer to withdraw the appeal. 3. The Ld. DR did not object to course so suggested.

Standard Chartered Masterbrand Licensing Ltd 4. In view of the above, we dismiss the appeal as withdrawn based on the letter submitted before us and assessee has filed the relevant Form No. 3 under the Vivad se Vishwas scheme, 2020.

5.

In the result, the appeal of the revenue is dismissed.

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