M/S NARESH TRADING CO.,MUMBAI vs. ASST CIT CC 3 (3), MUMBAI

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ITA 297/MUM/2020Status: DisposedITAT Mumbai12 March 2021AY 1988-893 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 application. Therefore, keeping the appeal pending would serve no purpose.

What were the facts?

The assessee filed an appeal against an order of the CIT(A). At the hearing, the assessee did not appear but had filed a withdrawal letter stating their intention to settle the tax litigation under the 'Vivad se Vishwas Scheme 2020'.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to the assessee opting for the 'Vivad se Vishwas Scheme'.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147,Section 245HA,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 Respondent: Ms. Smita Verma, DR
Hearing: 12.03.2021Pronounced: 15.03.2021

O R D E R

PER PAVAN KUMAR GADALE JM:

1.

The assessee has filed the appeal against the order of the Commissioner of Income Tax (Appeals) - 51, Mumbai, passed u/s. 143(3) r.w.s 147 r.w.s 245HA and 250 of the Income Tax Act, 1961.

2.

At the time hearing, none appeared on behalf of the assessee. The assessee has filed a letter dated 08-03- 2021 mentioning that the assessee is intend to settle the tax litigation by opting for ‘Vivad se Vishwas Scheme M/s Naresh Trading Co., Mumbai 2020’(VSVS2020) and filed an application in Form No. 1 & 2 under VSVS Rules 2020. Contra, the Ld. DR has no objections.

3.

We heard the Ld.DR and perused the material on record. Since the assessee has opted for ‘Vivaad se Vishwas Scheme 2020’ and has filed a letter dt 08-03- 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 appeal pending. Accordingly, we dismiss the appeal of the assessee as withdrawn and the assessee is given liberty to move an application u/s 254(2) of the Act to recall the present order as per provisions of Law.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, the appeal filed by the assessee is dismissed.

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