KREUZ SUBSEA PTE LTD,MUMBAI vs. ASST CIT (IT) 3 (1)92), MUMBAI

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ITA 7751/MUM/2019Status: DisposedITAT Mumbai25 March 2021AY 2016-172 pages

In favour of the Revenue: the assessee'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 received a certificate under the Vivad se Vishwas Act and requested to withdraw the appeal. The Revenue did not object to this request.

What were the facts?

The assessee filed an appeal before the ITAT for AY 2016-17. Subsequently, the assessee filed an application under the Direct Tax Vivad se Vishwas Act, 2020, to settle the matter.

What were the issues?

Whether the appeal should be withdrawn due to settlement under the Vivad se Vishwas scheme.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “I” MUMBAI

For Appellant: Shri Gaurav Shah, A.R
For Respondent: Shri Vijay Kumar Subramaniyam, Sr. D.R
Hearing: 22/03/2021Pronounced: 25/03/2021

ORDER PER RAVISH SOOD, J.M: The present appeal filed by the assessee is directed against the order passed by the Assessing Officer u/s 143(3) r.w.s 144C of the Income-tax Act, 1961 (for short ‘Act’), dated 24.10.2019 for assessment year 2016-17.

2.

The assessee vide a letter filed on 9th March, 2021 had therein stated that it had filed an application in Form No. 1 & 2 under the Direct Tax Vivad se Vishwas Act, 2020 in order to settle the aforesaid matter pending before the Tribunal. It is further stated by the assessee that it is in receipt of a certificate in ‘Form No. 3’ from the designated authority under sub-section (1) of Sec.5 of the Direct Tax Vivad se Vishwas Act, 2020. Accordingly, the assessee had requested that it may be permitted to withdraw the captioned appeal.

3.

The ld. D.R did not controvert the aforesaid factual position as was canvassed before us.

2 Kreuz Subsea Pte Ltd. Vs. The ACIT, IT-3(1)(2)

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