M/S. TYCO SAFETY PRODUCT (INDIA) PRIVATE LIMITED,BANGALORE vs. INCOME TAX OFFICER, WARD- 7(1)(1), BANGALORE

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ITA 2583/BANG/2019Status: DisposedITAT Bangalore03 December 2020AY 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The Tribunal dismissed the appeal as withdrawn. Liberty was granted to the assessee to approach the Tribunal for recall of the order if they opt out of the Vivad Se Vishwas Scheme.

What were the facts?

The assessee opted for the Vivad Se Vishwas Scheme, 2020. The assessee requested to withdraw the appeal with liberty to recall the order if they opt out of the scheme.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to the assessee opting for the Vivad Se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Section 254(2)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH : BANGALORE

Before: SHRI. CHANDRA POOJARI & SMT. BEENA PILLAI

For Appellant: Shri. Keerthi Narayan, CA
For Respondent: Shri. Muzaffar Hussain, CIT (DR)(ITAT), Bengaluru
Hearing: 03.12.2020Pronounced: 03.12.2020

O R D E R

Per Chandra Poojari, Accountant Member:

This appeal is by the assessee against the Assessment Order dated 23.10.2019.

2.

At the time of hearing, the learned AR of the assessee submitted that assessee is opting for Vivad Se Vishwas Scheme, 2020. Learned AR of the assessee submitted that under these facts the appeal of the assessee may be dismissed and withdrawn and liberty may be granted to the assessee to approach this Tribunal for recall of this order under section 254(2) of the Act in case the assessee finally opts out of Vivad Se Vishwas Scheme, 2020. Learned DR of the Revenue has no objection on the proposition.

IT(TP)A No.2583/Bang/2019 Page 2 of 2

3.

In view of above discussions, we dismiss the appeal as withdrawn and grant liberty to the assessee to approach this Tribunal for recall of this Tribunal order under section 254(2) of the Act in case the assessee finally opts out of Vivad Se Vishwas Scheme, 2020, for any reason in accordance with law.

4.

In the result, assessee’s appeal is dismissed.

Pronounced in the open court on the date mentioned on the caption page.

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