JAE PHARMACY PVT. LTD.,MUMBAI vs. ITO 10 (2)(1), MUMBAI

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ITA 388/MUM/2019Status: DisposedITAT Mumbai10 February 2021AY 2015-162 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 assessee requested to withdraw the appeals to avail the benefit of the 'Viwad Se Vishwas Scheme'. The Revenue had no objection to this request.

What were the facts?

The assessee filed two appeals against the CIT(A)'s order for assessment years 2015-16 and 2014-15. The assessee subsequently opted for the 'Viwad Se Vishwas Scheme, 2020'.

What were the issues?

The primary issue was the withdrawal of appeals by the assessee due to opting for the 'Viwad Se Vishwas Scheme'.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “F”, MUMBAI

Before: SHRI VIKAS AWASTHY & SHRI MANOJ KUMAR AGGARWAL

For Respondent: Ms. Usha Gaikwad
Hearing: 10/02/2021Pronounced: 10/02/2021

आदेश/ ORDER

PER VIKAS AWASTHY,JM:

1.

These two appeals by the assessee are directed against common order of Commissioner of Income Tax (Appeals)-17, Mumbai ( in short ‘the CIT(A)’) dated 27/11/2018 for the assessment years 2015-16 and 2014-15, respectively.

(A.Y.2015-16) ITA NO.389/MUM/2019(A.Y.2014-15) 2. A request letter dated 10/02/2021 has been received from the assessee stating that the assessee has opted for ‘Viwad Se Vishwas Scheme, 2020’( in short ‘VSVS’) and hence, want to withdraw both the appeals.

3.

Ms. Usha Gaikwad, representing the Department stated that the Department has no objection if the assessee want to withdraw appeals to avail the benefit of ‘VSVS’.

4.

A perusal of above letter shows that the assessee’s declaration under VSVS for both the impugned assessment years has been accepted and the Department has issued Form-3. In view of the above, the appeals by assessee are dismissed as withdrawn.

5.

The appeals by assessee are dismissed as withdrawn.

Order pronounced in the open court on Wednesday, the 10th day of February, 2021.

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