VASWANI TRADING PVT LTD.,MUMBAI vs. ASST CIT (OSD)-3, MUMBAI

PDF · subscribers
ITA 548/MUM/2020Status: DisposedITAT Mumbai12 February 2021AY 2012-133 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The Tribunal treated the appeal as dismissed and withdrawn in view of the assessee's settlement under the Vivad Se Viswas Scheme. Liberty was granted to restore the appeal if the declaration under the scheme is declared bad in law.

What were the facts?

The assessee filed an appeal before the ITAT. Subsequently, the assessee filed an application under the Vivad Se Viswas Scheme, 2020, to settle the tax dispute. The assessee submitted Form-3 obtained from the designated authority.

What were the issues?

Whether the appeal should be dismissed due to the assessee opting for settlement under the Vivad Se Viswas Scheme.

Which sections of the Income-tax Act were involved?

Section 143(3)

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: Shri Kushal Shah
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.2012-13 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-8, Mumbai in appeal No.CIT(A)-8/IT-41/2015-16 dated 25/11/2019 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 09/03/2015 by the ld.

M/s. Vaswani Trading Pvt. Ltd., Asst. Commissioner of Income-Tax(OSD)-3, Mumbai (hereinafter referred to as ld. AO). 2. We find that the ld. AR filed a letter 09/02/2021 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In view of this, we hereby treat the appeal pending before us as dismissed and withdrawn with a liberty given to the assessee to get the appeal restored in the event that assessee’s declaration made under “Vivad Se Viswas Scheme 2020” is declared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.

Sd/- Sd/- (M.BALAGANESH) (VIKAS AWASTHY) ACCOUNTANT MEMBER JUDICIAL MEMBER Mumbai; Dated 12/02/2021 KARUNA, sr.ps

M/s. Vaswani Trading Pvt. Ltd.,

Recent GST High Court judgments

Search GST case law →