M/S. VIJAY PAPER PRODUCT,MUMBAI vs. INCOME TAX OFFICER 21(3)(5), MUMBAI

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ITA 5307/MUM/2019Status: DisposedITAT Mumbai08 March 2021AY 2010-113 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 the assessee had opted for the Vivad Se Vishwas Scheme. Liberty was granted to the assessee to revive the appeal if the scheme declaration fails to mature.

What were the facts?

The assessee filed an appeal before the ITAT. Subsequently, the assessee opted for the 'Vivad Se Vishwas Scheme, 2020' and filed a declaration under the scheme.

What were the issues?

Whether the appeal should be dismissed in light of the assessee opting for the Vivad Se Vishwas Scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “SMC”, MUMBAI

Hearing: 08/03/2021Pronounced: 08/03/2021

This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals)-48, Mumbai ( in short ‘the CIT(A)’) dated 31/05/2019 for the assessment years 2010-11.

2.

A letter dated 08/03/2021 has been received from the assessee stating that the assessee has opted for ‘Viwad Se Vishwas Scheme, 2020’( in short ‘VSVS’).

3.

Shri Sanjay Singh, representing the Department stated that the Department has no objection if the assessee want to avail the benefit of ‘VSVS’.

2 आअसं. 5307/मुं/2019 (�न.व. 2010-11) (A.Y.2010-11) 4. In view of the fact that the assessee has opted for VSVS and has already filed declaration, the appeal by assessee is dismissed at this stage.

5.

Liberty is granted to the assessee to revive the appeal in the event declaration filed by the assessee under VSVS fails to mature. It is further made clear that if the assessee /appellant seeks to restore the appeal in the event assessee’s declaration made under VSVS is not accepted, the Registry shall not insist for filing of application for condonation of delay, if the Miscellaneous Application for recalling the order is filed beyond time on account of delay in communication of outcome under VSVS. [ Re. M/s. Nannusamy Mohan(HUF) vs. ACIT in T.C.A No.372 of 2020 decided on 16/10/2020 by Hon’ble Madras High Court]

6.

In the result, appeal by assessee is dismissed, with the liberty aforesaid.

Order pronounced in the open court on Monday the 8th day of March, 2021.

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