PENINSULA LAND LTD,MUMBAI vs. DCIT, CENTRAL CIRCLE 1(3), MUMBAI
In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.
What did the Tribunal hold?
The tribunal allowed the withdrawal of the appeals, granting liberty to the assessee to seek restoration if the Vivad Se Viswas scheme declaration is not accepted by the revenue.
What were the facts?
The assessee opted for the 'Direct Tax Vivad Se Viswas Scheme-2020' for all their appeals. They submitted the necessary forms and requested withdrawal of the appeals.
What were the issues?
Whether the appeals should be dismissed as withdrawn due to the assessee opting for the Vivad Se Viswas Scheme.
Which sections of the Income-tax Act were involved?
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, “C” BENCH, MUMBAI
Heard together (11 matters)
Read from the judgment's own cause title. This page is filed under one of them.
आदेश / O R D E R भहावीय स िंह, उऩाध्मक्ष के द्वाया / PER MAHAVIR SINGH, VP: These appeals of different assessee’s are arising out of the orders of the Commissioner of Income Tax (Appeals)]-47, Mumbai, [in short CIT(A)], in Appeal Nos. CIT(A)-47/12886, 12904, 12909, 12919, 12920.16-17, CIT(A)/16451691/16-17, CIT(A)-47/12845 & 12859/16- 17, CIT(A)-47/12842,12955,12849, 12851, 12854 & 12860/16-17 dated 25.06.2019. The assessments were framed by the Dy. Commissioner of Income Tax Officer, CC-1(3), Mumbai (in short DCIT/ITO/ AO), for the A.Ys. 2008-09 to 2014-15 vide order dated 30.12.2016 & 30.03.2016 under section 153A, 143(3) read with section 147 of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’). 2. At the outset, the learned Counsel for the assessee Shri Kushal Shah stated that the assessee has opted for ‘Direct Tax Vivad Se Viswas Scheme-2020’ in all these appeals. The assessee has filed copies of Form No. 1 and 2 and also form No. 3 issued by the Department. Hence, he has requested for permission for withdrawal of the appeal subject to liberty to be granted to him. The DRs have not objected for the same. 3. After hearing both the sides and perusing the records, it is noticed that the assessee is opting for ‘Direct Tax Vivad Se Viswas Scheme- 2020’ in all these appeals. In view of the decision of Hon'ble High Court of Madrass in the case of Nannusamy Mohan (HUF) vs. ACIT in I.C.A. No.372 of 2020 dated 16.10.2020, wherein Hon'ble High Court after
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