M/S PIRAMAL ENTERPRISES LTD.,MUMBAI vs. ASST CIT RANGE 7 (3)(2), MUMBAI

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ITA 482/MUM/2020Status: DisposedITAT Mumbai12 February 2021AY 2015-163 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The Tribunal treated the pending appeal as dismissed and withdrawn. Liberty was granted to the assessee to restore the appeal if the Vivad Se Viswas declaration is declared bad in law.

What were the facts?

The assessee preferred an appeal against the final assessment order. The assessee subsequently filed an application under the Vivad Se Viswas Scheme, 2020, to settle the tax dispute.

What were the issues?

The primary issue was the impact of the assessee's declaration under the Vivad Se Viswas Scheme on the pending appeal before the Tribunal.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C(13),Section 144C(5)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VIRTUAL COURT

Before: SHRI VIKAS AWASTHY, JM & SHRI M.BALAGANESH, AM

For Appellant: Ms. Pooja Agarwal
For Respondent: Shri Sushil Kumar Mishra
Hearing: 12/02/2021Pronounced: 12/02/2021

आदेश / O R D E R PER VIKAS AWASTHY (JM):

1.

This appeal in A.Y.2015-16 preferred by the order against the final assessment order passed by the Assessing Officer dated 25/11/2019 u/s.143(3) r.w.s.144C(13) of the Income Tax Act, hereinafter referred to as Act, pursuant to the directions of the ld. Dispute Resolution Panel (DRP in short) u/s.144C(5) of the Act dated 30/09/2019 for the A.Y.2014-15

2.

We find that the ld. AR filed a letter mentioning that assessee had preferred an application under direct tax “Vivad Se Viswas Scheme 2020” to settle this tax dispute for the year under consideration and had obtained Form-3 from the designated authority thereon, copy of which was enclosed alongwith this letter.

3.

In view of this, we hereby treat the appeal pending before us as dismissed and withdrawn with a liberty given to the assessee to get the appeal restored in the event that assessee’s declaration made under “Vivad Se Viswas Scheme 2020” is declared bad in law in future for any reason whatsoever.

4.

In the result, appeal of the assessee is dismissed.

Order pronounced in the open Court on 12/02/2021.

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