NAILESH SWARUPCHAND MEHTA,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, MUMBAI

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ITA 5355/MUM/2019Status: DisposedITAT Mumbai10 March 2021AY 2014-153 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 at this stage due to the assessee opting for the 'Vivad se Vishwas Scheme'. Liberty was granted to revive the appeal if the scheme declaration fails to mature.

What were the facts?

The assessee opted for the 'Vivad se Vishwas Scheme, 2020' and filed a declaration. The department had no objection to the assessee availing the benefits of the scheme.

What were the issues?

Whether the appeal should be dismissed when the assessee opts for the 'Vivad se Vishwas Scheme' and files a declaration.

AI-generated summary — verify with the full judgment below

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

Before: VIKAS AWASTHY & SHRI N.K.PRADHAN

For Appellant: Shri Krunal Gaglani
Hearing: 10/03/2021Pronounced: 10/03/2021

This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals)-53, Mumbai ( in short ‘the CIT(A)’) dated 14/06/2019 for the assessment years 2014-15.

2 आअसं. 5355/मुं/2019 (�न.व. 2014-15) (A.Y.2014-15)

2.

A letter dated 09/03/2021 has been received from the Chartered Accountants of the assessee stating that the assessee has opted for ‘Viwad Se Vishwas Scheme, 2020’( in short ‘VSVS’). The declaration has already been filed under VSVS and Form- 3 is awaited.

3.

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

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 Wednesday, the 10th day of March, 2021.

Sd/- Sd/- (N.K.PRADHAN) (VIKAS AWASTHY) लेखा सद�य /ACCOUNTANT MEMBER �या�यक सद�य/JUDICIAL MEMBER मुंबई/ Mumbai, �दनांक/Dated 10/03/2021 Vm, Sr. PS (O/S)

3 आअसं. 5355/मुं/2019 (�न.व. 2014-15) (A.Y.2014-15)

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