CIFCO PROPERTIES PVT LTD.,MUMBAI vs. ITO WARD 1(1)(2), MUMBAI

ITA 4788/MUM/2019Status: DisposedITAT Mumbai11 March 2021AY 2012-132 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The Tribunal dismissed the appeal as withdrawn. However, the assessee was granted liberty to seek restoration if the declaration filed under the scheme was not accepted.

What were the facts?

The assessee sought withdrawal of its appeal before the ITAT. This was because the assessee had opted for settlement under the Direct Tax Vivad Se Vishwas Scheme, 2020 and received Form No.3.

What were the issues?

The primary issue was the assessee's request for withdrawal of appeal due to opting for a settlement scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” BENCH, MUMBAI

Before: HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM & HON’BLE SHRI RAVISH SOOD, JM

For Respondent: Ms. Shreekala Pardeshi-Ld. Sr. DR

Per Manoj Kumar Aggarwal (Accountant Member)

At the time of hearing of this appeal, the registry placed on record assessee’s letter dated 05/03/2021 wherein it has been stated that the assessee has already opted for settlement of dispute under Direct Tax Vivad Se Vishwas Scheme (VVS Scheme), 2020 and received Form No.3 from appropriate authority. Therefore, the assessee seeks withdrawal of appeal. The Ld. DR did not object to the same.

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