SHETH MERCANTILE CORPORATION,MUMBAI vs. ACIT 17 (2), MUMBAI
In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.
What did the Tribunal hold?
The Tribunal noted that the assessee had opted for the 'Vivad se Vishwas Scheme' and received Form-3 from the Income Tax Department. 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). During the hearing, the assessee expressed an intention to settle the tax litigation by opting for 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Whether the appeal should be dismissed as withdrawn due to the assessee opting for the 'Vivad se Vishwas Scheme'.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?
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, “SMC-I” BENCH, MUMBAI
Before: SHRI RAJESH KUMAR & SHRI PAVAN KUMAR GADALE
सुनवाई क� तार�ख / Date of Hearing 28/01/2021 घोषणा क� तार�ख /Date of Pronouncement 29/01/2021 आदेश / O R D E R
PER RAJESH KUMAR-AM:
The assessee has filed the appeal against the order of the Commissioner of Income Tax (Appeals) - 28, Mumbai, passed u/s. 143(3) r.w.s 147 and 250 of the Income Tax Act, 1961.
At the time hearing, the assessee filed letter dated 27-01-2021 mentioning that the assessee is intending to settle the tax litigation by opting for Sheth Mercantile Corp., Mumbai. - 2 - ‘Vivad se Vishwas Scheme 2020’(VSVS2020) and filed an application in Form No. 1 & 2 under VSVS Rules 2020. Contra, the Ld. DR has no objections.
We heard the rival contentions and perused the material on record. Since the assessee has opted for ‘Vivaad se Vishwas Scheme 2020’ and Form-3 is received 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 Accordingly, we dismiss the appeal of the assessee as withdrawn and the assessee is given liberty to move an application u/s 254(2) of the Act to recall the present order in accordance with the provisions of law.
In the result, the appeal filed by the assessee is dismissed.
Order pronounced in the open court on 29-01-2021 .
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- Neo Incorporation, Rajkot vs DCIT Circle- 1(2), RajkotITA 471/RJT/2026[2012-2013]Status: Disposed21 Oct 2026AY 2012-2013
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