CAMLIN FINE SCIENCES LTD.,MUMBAI vs. ACIT.,-9(2)(1), MUMBAI

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ITA 126/MUM/2019Status: DisposedITAT Mumbai04 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The Tribunal dismissed the appeal as withdrawn, allowing the assessee to seek restoration if the declaration under the scheme is not accepted.

What were the facts?

The assessee filed an appeal for Assessment Year 2012-13. The assessee subsequently opted for settlement of the dispute under the Direct Tax Vivad Se Vishwas Scheme, 2020.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to opting for the Vivad Se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C(3)(a)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “I” BENCH, MUMBAI

Before: HON’BLE SHRI MAHAVIR SINGH, VP & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM

For Appellant: Shri Kishore Rajshirke -Ld.AR
For Respondent: Shri Vijaykumar Subramaniyam-

आयकरअपील सं./ (िनधा"रण वष" / Assessment Year: 2012-13) M/s. Camlin Fine Sciences Ltd. ACIT-9(2)(1) Plot No.F/11 & F/1 Mumbai. बनाम/ WICEL Compound Vs. Opp. SEEPZ Central Road Andheri (E), Mumbai-400 093 "थायीलेखासं./जीआइआरसं./PAN/GIR No. AACCC-5235-E (अपीलाथ"/Appellant) (""थ" / Respondent) : Assessee by : Shri Kishore Rajshirke -Ld.AR Revenue by : Shri Vijaykumar Subramaniyam- Ld.DR सुनवाई की तारीख/ : 04/03/2021 Date of Hearing घोषणा की तारीख / : 04/03/2021 Date of Pronouncement आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member)

1.

Aforesaid appeal by assessee for Assessment Year 2012-13 contests the order of learned first appellate authority on certain grounds of appeal

. The assessment for the year under consideration was framed by learned Assessing Officer u/s 143(3) r.w.s.144C(3)(a) on 09/05/2016.

2. The Ld. Counsel for assessee, Shri Kishore Rajshirke, at the outset, submitted that the assessee has already opted for settlement of dispute under Direct Tax Vivad Se Vishwas Scheme (VVS Scheme), 2020 for the year under consideration and therefore, the appeal may be dismissed as withdrawn. The Ld. DR concurred with the same.

3. In view of foregoing, the appeal stands dismissed as withdrawn with a liberty to assessee to seek restoration of the appeal in case the aforesaid declaration filed under the scheme is not accepted, for whatever reasons.

4. The appeal stands dismissed as withdrawn.

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