M/S FIBRES AND FABRICS INTERNATIONALPRIVATE LIMITED,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-11(3), BANGALORE

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ITA 2674/BANG/2017Status: DisposedITAT Bangalore08 December 2020AY 2005-062 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal noted that keeping the appeal pending would serve no purpose given the assessee's settlement under the Vivad Se Vishwas Act. The appeal was dismissed as withdrawn.

What were the facts?

The assessee opted to settle the dispute under the Direct Tax Vivad Se Vishwas Act, 2020. They had filed the necessary forms and were awaiting further confirmation.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to the assessee opting for settlement under the Vivad Se Vishwas Act.

Which sections of the Income-tax Act were involved?

Direct Tax Vivad Se Vishwas Act, 2020

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C’’ BENCH: BANGALORE

Before: SHRI GEORGE GEORGE K. & SHRI B.R. BASKARAN

For Appellant: Shri Keerti Narayan, A.R
For Respondent: Smt. R. Premi, D.R
Hearing: 08.12.2020Pronounced: 08.12.2020

PER B.R. BASKARAN, ACCOUNTANT MEMBER:

1.

The assessee has filed this appeal challenging the order dated 09-10-2017 passed by Ld CIT(A)-3, Bengaluru and it relates to the assessment year 2005-06.

2.

The Ld Counsel for the assessee has furnished a letter stating that the assessee has opted to settle the dispute under Direct Tax Vivad Se Vishwas Act for settlement of the dispute by filing Form No.1 & 2 and has also received Form No.3. The Ld A.R submitted that the assessee is awaiting Form No.5. Accordingly the Ld A.R submitted

Fibres and Fabrics International Pvt. Ltd., Bangalore Page 2 of 2 that the assessee wishes to withdraw the appeal. The Ld A.R submitted that the assessee may be given liberty to seek recall of the order, if something goes wrong.

3.

The Ld D.R did not object to the prayer made by the assessee.

4.

We heard the parties and perused the record. Since the assessee has opted to settle the dispute under Direct Tax Vivad Se Vishwas Act, 2020, we are of the view that no purpose will be served in keeping this appeal pending. Accordingly we dismiss the appeal of the assessee as withdrawn. However, the assessee is given liberty to move appropriate application for recall of the present order in accordance with the law, if the assessee intends to do so.

5.

In the result, the appeal of the assessee is dismissed as withdrawn. Order pronounced in the open court on 8th Dec, 2020

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