M/S MAVENTIC INNOVATIVE SOLUTIONS PVT LTD,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-4(1)(2), BANGALORE

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ITA 1212/BANG/2018Status: DisposedITAT Bangalore05 January 2021AY 2014-152 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 held that no purpose would be served in keeping the appeals pending as the dispute was settled under the Vivad Se Vishwas Act. Therefore, the appeals were dismissed.

What were the facts?

The assessee opted for settlement under the Direct Tax Vivad Se Vishwas Act. Consequently, the assessee requested that their appeal be treated as withdrawn. The Revenue also had a cross-appeal.

What were the issues?

Whether the appeals should be dismissed as withdrawn due to the assessee opting for settlement under the Vivad Se Vishwas Act.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, BANGALORE BENCHES “A”, BANGALORE

Before: Shri Chandra Poojari, AM & Shri George George K, JM

For Respondent: DR Assessee by : Smt.Suman Lunkar, CA
Hearing: 05.01.2021

Heard together (2 matters)

ITA No.1212/Bang/2018
ITA No.1090/Bang/2018

Read from the judgment's own cause title. This page is filed under one of them.

O R D E R Per George George K, JM These cross appeals at the instance of the assessee and Revenue are directed against CIT(A)’s order dated 20.02.2018. The relevant assessment year is 2014-2015.

2.

At the time of hearing before us, the learned Counsel for the assessee has furnished a letter dated 22nd December, 2020, wherein it is stated that the assessee has opted for filing the application under Direct Tax Vivad Se Vishwas Act, for settlement of the dispute, and accordingly, prayed that the 2 & 1090/Bang/2018 M/s.Maventic Innovative Solutions Pvt.Ltd. appeal may be treated as withdrawn. Accordingly, we are of the view that no purpose would be served in keeping the appeals pending, since the present appeal has to be withdrawn by the assessee or Revenue, once the dispute is settled under the above said Act.

3.

Accordingly, we dismiss the appeal of the assessee and Revenue. However, liberty is given to the assessee / Revenue to seek recall of this order, if it warrants so.

4.

In the result, the appeals filed by the assessee and Revenue are dismissed.

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