GEOMETRIC LTD,MUMBAI vs. DCIT RG 14(1)(1), MUMBAI

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ITA 1594/MUM/2016Status: DisposedITAT Mumbai19 February 2021AY 2011-124 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 permitted the assessee to withdraw the appeals. Liberty was granted to seek restoration if the Vivad Se Vishwas application was not accepted, with delay to be condoned.

What were the facts?

The assessee sought withdrawal of its appeals before the ITAT. This was because the assessee had applied to settle the tax dispute under the Vivad Se Vishwas Tax Scheme, 2020. The Revenue had no objection to the withdrawal.

What were the issues?

Whether the assessee can withdraw appeals filed before the ITAT due to opting for the Vivad Se Vishwas Scheme. The procedure for restoration of appeals if the scheme is not accepted.

Which sections of the Income-tax Act were involved?

Section 144C,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “K” BENCH, MUMBAI

Before: SHRI VIKAS AWASTHY & SHRI S. RIFAUR RAHMAN

For Appellant: Shri Nayan Thakkar
For Respondent: Shri Sushil Kumar Mishra

The aforesaid cross appeals are for the assessment year 2011–12 which have been filed challenging the draft assessment order dated 26th March 2015, and another appeal filed by the assessee which is for the assessment year 2012–13, challenging the draft assessment order dated 21st March 2016, passed under section 144C r/w section 143(3) of the Income Tax Act, 1961 (for short "the Act") in pursuance to the directions of the Dispute Resolution Panel–I (DRP), Mumbai.

2.

During the course of hearing, we find that the assessee has filed a letter dated 16th February 2021, before the Registry of the Tribunal seeking withdrawal of the appeal in view of the fact that the assessee has applied for settling the tax dispute under the Vivad Se Vishwas Tax Scheme, 2020. The letter submitted by the assessee is accompanied by the acknowledgement in Form–I and II of the declaration filed under the aforesaid scheme. The aforesaid letter and the declarations are kept on record.

3.

The learned Departmental Representative has no objection for withdrawal of the appeal by the assessee.

3 Al Ghurair Construction Foundations India Pvt. Ltd.

4.

Heard the learned Counsel for both the parties and perused material on record. Considering the fact that the assessee has sought withdrawal of the present appeals, as it has applied for settling the dispute under Vivad Se Vishwas Scheme, 2020, we permit the assessee to withdraw the appeals at this stage. However, liberty is granted to the assessee to seek restoration of these appeals in the event the application filed under Vivad Se Vishwas Tax Scheme is not accepted by the Department. It is further made clear that in such eventuality if the assessee seeks restoration of the present appeals by filing misc. application, the delay, if any, should be condoned without insisting upon filing any application for condonation of delay. This is in view of the decision of the Hon’ble Madras High Court in order dated 16th October 2020, delivered in M/s. Nannusamy Mohan (HUF) v/s ACIT, TCA no.372 of 2020. With the aforesaid observations, the appeals are dismissed as withdrawn.

5.

In the result, appeals are dismissed in terms indicated above. Order pronounced in the open court on 19.02.2021

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