RABO INDIA FINANCE LTD. (NOW MERGED WITH RABO INDIA SECURITIES PVT. LTD.),MUMBAI vs. ACIT, CIRCLE - 1(3)(1), MUMBAI

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ITA 1543/MUM/2019Status: DisposedITAT Mumbai17 February 2021AY 2013-143 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal noted that the assessee had opted for the 'Vivad se Vishwas Scheme'. Therefore, keeping the appeal pending would serve no purpose. The appeal was dismissed as withdrawn.

What were the facts?

The assessee intended to settle tax litigation by opting for the 'Vivad se Vishwas Scheme 2020'. An application was filed under the scheme. The Revenue had no objections.

What were the issues?

Whether the appeal should be kept pending when the assessee has opted for a settlement scheme. The procedure for recalling an order in accordance with law.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C,Section 254(2)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “D” BENCH, MUMBAI

IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER (A.Y: 2013-14) बनाम/ Rabo India Finance Asst. Commissioner of Limited (Now merged Income Tax, Vs. with Rabo India Circle – 1(3) (1), Securities Private Room No. 540, 5th Floor, Limited), Aayakar Bhavan, 20th Floor, Tower-A, M.K. Road, Peninsula Bapat Marg, Mumbai - 400020 Lower Parel, Mumbai - 400013 �थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AAACR6065R (अपीलाथ� /Appellant) .. (��यथ� / Respondent) अपीलाथ� ओर से / Shri Nitesh Joshi, AR Appellant by : ��यथ� क� ओर Shri Bharat Andhle, DR से/Respondent by : सुनवाई क� तारीख / Date of 17/02/2021 Hearing घोषणा क� तारीख /Date of 17/02/2021 Pronouncement आदेश / O R D E R PER PAVAN KUMAR GADALE:

Rabo India Finance Ltd. - 2 - This appeal is filed by the assessee against the order of the Commissioner of Income Tax (Appeals) - 57, Mumbai, passed u/s. 143 (3 )r.w.s. 144C of the Income Tax Act, 1961.

2. At the time hearing, the Ld. AR of the assessee submitted that the assessee is intend to settle the tax litigation by opting for ‘Vivad se Vishwas Scheme 2020’(VSVS2020) and filed an application in Form No. 1 & 2 under VSVS Rules 2020. Contra, the Ld. DR has no objections.

3.

We heard the rival submissions and perused the material on record. Since the assessee has opted for ‘Vivaad se Vishwas Scheme 2020’ and has filed the application as mentioned by the Ld.AR. We are of the view that, no purpose will be served in keeping the appeal pending. Accordingly, we dismiss the appeal of the assessee as withdrawn and the assessee is given liberty to move an application u/s 254(2) of the Act to recall the present order in accordance with the provisions of law.

Rabo India Finance Ltd. - 3 - 4. In the result, the appeal filed by the assessee is dismissed.

Order pronounced in the open court on 17.02.2021.

Sd/- Sd/- (M. BALAGANESH) (PAVAN KUMAR GADALE) ACCOUNTANT MEMBER JUDICIAL MEMBER Mumbai, Dated 17.02.2021 AK, PS आदेश क� �ितिलिप अ�ेिषत/Copy of the Order forwarded to : 1. अपीलाथ� / The Appellant 2. ��यथ� / The Respondent. 3. संबंिधत आयकर आयु� / The CIT(A) 4. आयकर आयु�(अपील) / Concerned CIT िवभागीय �ितिनिध, आयकर अपीलीय अिधकरण, मुंबई / DR, ITAT, Mumbai 5. 6. गाड� फाईल / Guard file. आदेशानुसार/ BY ORDER, स�यािपत �ित //True Copy// 1. उप/सहायक पंजीकार ( Asst. Registrar) आयकर अपीलीय अिधकरण, मुंबई / ITAT, Mumbai

2.

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