CABLE CORPORATION OF INDIA LIMITED,MUMBAI vs. DCIT-2(1)(1), MUMBAI

The chartered accountant of the assessee has filed a letter on 17th February, 2021, wherein it is stated that the assessee as regards its quantum appeal pending before the Tribunal, i.e appeal No. 4980/Mum/2018 emanating from the order passed by the A.O under Sec.143(3) r.w. Sec. 147 of the Act had filed an application under the Direct Tax Vivad se Vishwas Act, 2020 in order to settle the said matter and has received the certificate under sub-section (1) of Sec. 5 of Direct Tax Vivad se Vishwas Act, 2020 from the designated authority. In support of its aforesaid claim the assessee had enclosed alongwith its letter ‘Form 3’ issued by the designated authority. It is stated by the assessee that as the assessee’s application w.r.t the pending quantum appeal has been accepted under the Vivad se Vishwas scheme thus, the corresponding appeal against the penalty imposed by the A.O u/s 271(1)(c) of the Act, viz. would not survive and accordingly be permitted to be withdrawn.