VIMAL KUMAR JAGNANI,MUMBAI vs. ITO 18(3)(5), MUMBAI

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ITA 3141/MUM/2019Status: DisposedITAT Mumbai15 March 2021AY 2008-093 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 opted for the 'Vivad se Vishwas Scheme' and had filed the necessary applications. Therefore, keeping the appeals pending would serve no purpose.

What were the facts?

The assessee filed appeals against an order passed under section 143(3) r.w.s 147 and 250 of the Income Tax Act. The assessee intended to settle the tax litigation by opting for the 'Vivad se Vishwas Scheme 2020'.

What were the issues?

Whether the appeals should be dismissed as withdrawn due to the assessee opting for the Vivad se Vishwas Scheme. The assessee was granted liberty to move an application to recall the order.

Which sections of the Income-tax Act were involved?

Section 143,Section 147,Section 250,Section 254(2)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “SMC” BENCH, MUMBAI

Before: SHRI SHAMIM YAHYA & SHRI PAVAN KUMAR GADALE

For Appellant: Shri Dinesh Jain, AR
For Respondent: Ms. Smita Verma, DR
Hearing: 12.03.2021Pronounced: 15.03.2021

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.

2.

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.

3.

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 Accordingly, we dismiss the appeals of the assessee as withdrawn and the assessee is given liberty to move an application u/s 254(2) of the Act to recall the present order as per provisions of Law.

4.

In the result, both the appeals filed by the assessee are dismissed.

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