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Income Tax Appellate Tribunal, “SMC” BENCH, MUMBAI
Before: SHRI SHAMIM YAHYA & SHRI PAVAN KUMAR GADALE
O R D E R PER PAVAN KUMAR GADALE: These two appeals are filed by the assessee against the common order of the Commissioner of Income Tax (Appeals) – 29, Mumbai, passed u/s. 143(3) r.w.s 147 and 250 of the Income Tax Act, 1961.
At the time hearing, the Ld.AR has filed a letter dated 03-03-2021 explaining that the assessee is intend to settle the tax litigation by opting for ‘Vivad se Vishwas Scheme 2020’(VSVS2020) and filed an application in & 3142/Mum/2019 Vimal Kumar Jagnani, Mumbai. Form No. 1 & 2 under VSVS Rules 2020. Contra, the Ld. DR has no objections.
We heard the rival submissions and perused the material on record. Since the assessee has opted for ‘Vivaad se Vishwas Scheme 2020’ and the Ld.AR has filed a letter dt 03-03-2021 mentioning that the assessee 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 appeals pending. Accordingly, we dismiss the appeals of the assessee as withdrawn and the assessee is given liberty to move an application u/s 254(2) of the Act to recall the present order as per provisions of Law.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, both the appeals filed by the assessee are dismissed.