M/S NISHRIN TRADING & INVESTMENT PVT LTD.,MUMBAI vs. DCIT CC 7(3), MUMBAI

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ITA 5577/MUM/2019Status: DisposedITAT Mumbai03 March 2021AY 2008-092 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 noted that the assessee had opted for settlement under the Vivad Se Vishwas Scheme and wished to withdraw the appeal. The Revenue did not object to this request.

What were the facts?

The assessee filed an appeal for AY 2008-09. At the outset of the hearing, the assessee's counsel submitted that the assessee had opted for settlement under the Direct Tax Vivad Se Vishwas Scheme, 2020 and wished to withdraw the appeal.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to the assessee opting for settlement under the Vivad Se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH, MUMBAI

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

For Appellant: Ms. Aparna Shivkumar-Ld. AR
For Respondent: Shri Tharian Oommen- Ld. DR

आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2008-09 contests the order of learned first appellate authority passed on 30/07/2019 on certain grounds of appeal

. The assessment was framed by Ld. Assessing Officer u/s 143(3) r.w.s. 147 on 31/03/2016.

1.

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 and M/s. Nishrin Trading & Investment P. Ltd. Assessment Year: 2008-09 wishes to withdraw the appeal. 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In view of foregoing, the appeal stands dismissed as withdrawn with a liberty to assessee to seek restoration of this appeal in case the aforesaid declaration filed under the scheme is not accepted, for whatever reasons. The appeal stands dismissed as withdrawn.

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