LAVASA DIAMONDS,MUMBAI vs. ITO 30(2)(2), MUMBAI

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ITA 420/MUM/2017Status: DisposedITAT Mumbai03 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 assessee opted for settlement under the Vivad Se Vishwas Scheme, 2020. The Tribunal dismissed the appeal as withdrawn based on this submission.

What were the facts?

The assessee filed an appeal for AY 2012-13 against the order of the first appellate authority. The assessment was originally framed under Section 143(3).

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Whether the appeal should be dismissed as withdrawn due to the assessee opting for the Vivad Se Vishwas Scheme.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

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, MUMBAI

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

For Appellant: Shri Ninand Patade-Ld.AR
For Respondent: Shri Brajendra Kumar-Ld.DR

आयकरअपील सं./ (िनधा"रण वष" / Assessment Year: 2012-13) M/s. Lavasa Diamonds ITO-30(2)(2) A-1001, Keval Tower Pratyakshkar Bhavan बनाम/ 10th Floor, B.J. Patel Marg Bandra Kurla Complex Off, Marve Road Bandra East, Mumbai-400 Vs. Opp. SNDT College, 051 Malad East, Mumbai-400 064 "थायीलेखासं./जीआइआरसं./PAN/GIR No. AADFL-0668-C (अपीलाथ"/Appellant) (""थ" / Respondent) : Assessee by : Shri Ninand Patade-Ld.AR Revenue by : Shri Brajendra Kumar-Ld.DR सुनवाई की तारीख/ : 24/02/2021 Date of Hearing घोषणा की तारीख / : 03/03/2021 Date of Pronouncement आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member)

1.

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

. The assessment was framed by ld. Assessing Officer u/s 143(3) on 30/03/2015. 2 M/s. Lavasa Diamonds Assessment Year: 2012-13

2. The Ld. Counsel for assessee, 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Vivad Se Vishwas Scheme (VVS Scheme), 2020 for the year under consideration and therefore, the appeal may be treated as withdrawn. The Ld. DR did not object to 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 In view of foregoing, the appeal stands dismissed as withdrawn with a liberty to assessee to seek restoration of the appeal in case the aforesaid declaration filed under the scheme is not accepted, for whatever reasons.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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