ITO-21(2)(3), MUMBAI vs SHRI MULJI BHANJI CHHEDA, MUMBAI

Income Tax Appellate Tribunal, “SMC” BENCH, MUMBAI

Before: SHRI SAKTIJIT DEY & SHRI S. RIFAUR RAHMAN

For Appellant: Ms. Namrata Kasale

For Respondent: Ms. Smita Verma, Ms. Namrata Kasale

The present appeal preferred by the Revenue challenging the order dated 1st April 2019, passed by the learned Commissioner (Appeals)–33, Mumbai, deleting penalty under section 271(1)(c) of the Income Tax Act, 1961 (for short "the Act") imposed by the Assessing Officer pertaining to the assessment year 2010–11.

During the course of hearing, while perusing the material before us, we find that the assessee has filed the acknowledgement in Form–I

2 Shri Mulji Bhanji Chheda and II of the declaration filed under Vivad Se Vishwas Tax Scheme, 2020.

Heard the learned Counsel appearing for both the parties and perused material on record. Considering the fact that the assessee has applied for settling the dispute under Vivad Se Vishwas Scheme, 2020, we are of the opinion that there is no necessity of keeping this matter alive. Consequently, the appeal filed by the Revenue is dismissed. However, liberty is granted to the Revenue to seek restoration of this appeal in the event the application filed by the assessee under Vivad Se Vishwas Tax Scheme is not accepted by them. With the aforesaid observations, the appeal is dismissed.

In the result, Revenue’s appeal is dismissed. Order pronounced in the open court on 24.02.2021

ITO-21(2)(3), MUMBAI vs. SHRI MULJI BHANJI CHHEDA, MUMBAI