MUMBAI MANTRA MEDIA LIMITED,MUMBAI vs. ACIT - 11(1), MUMBAI

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ITA 3765/MUM/2018Status: DisposedITAT Mumbai24 February 2021AY 2011-123 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The Tribunal treated the appeal as dismissed and withdrawn, granting liberty to the assessee to have it restored if the Vivad Se Viswas declaration is later declared bad in law.

What were the facts?

The assessee filed an appeal before the ITAT. Subsequently, the assessee filed an application under the Vivad Se Viswas Scheme, 2020, to settle the tax dispute.

What were the issues?

The primary issue was the pendency of the appeal before the Tribunal in light of the assessee's settlement under the Vivad Se Viswas 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, ‘D‘ BENCH

For Appellant: Shri Dhawal Jain
For Respondent: Shri Bharat Andhle
Hearing: 24/02/2021Pronounced: 24/02/2021

आदेश / O R D E R PER M. BALAGANESH (A.M):

1.

This appeal in A.Y.2011-12 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-4, Mumbai in appeal No.CIT(A)-4/Tr-371/Appeal-3/AC-11(1)/2014-15 dated 24/04/2018 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 21/02/2014 by the ld. Asst. Commissioner of Income Tax-11(1), Mumbai (hereinafter referred to as ld. AO).

M/s. Mumbai Mantra Media Ltd.,

2.

We find that the ld. AR filed a letter dated 04/02/2021 mentioning that assessee had preferred an application filed in form No.1 & 2 under direct tax “Vivad Se Viswas Scheme 2020” to settle this tax dispute for the years under consideration and had obtained Form No.3 from the designated authority thereon, copy of which was enclosed alongwith this letter.

3.

In view of this, we hereby treat this appeal pending before us as dismissed and withdrawn with a liberty given to the assessee to get the appeal restored in the event that assessee’s declaration made under “Vivad Se Viswas Scheme 2020” is declared bad in law in future for any reason whatsoever.

4.

In the result, appeal of the assessee is dismissed.

Order pronounced in open Court on 24/02/2021.

Sd/- Sd/- (RAVISH SOOD) (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai; Dated 24/02/2021 KARUNA, sr.ps

M/s. Mumbai Mantra Media Ltd.,

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