M/S NYAYAMITRA SAHAKARA BANK NIYAMITHA,BANGALORE vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-2(1)(1), BANGALORE
What did the Tribunal hold?
The Tribunal, following its practice in similar cases, dismissed the appeals as withdrawn. The assessee was granted liberty to seek recall of the order if the formalities under the Vivad Se Vishwas Scheme were completed.
What were the facts?
The assessee, Nyayamitra Sahakara Bank Niyamitha, filed appeals against orders of the CIT(Appeals). During the hearing, the assessee expressed an intention to opt for the Vivad Se Vishwas Scheme.
What were the issues?
The primary issue was the assessee's intention to opt for the Vivad Se Vishwas Scheme and its impact on the pending appeals.
Which sections of the Income-tax Act were involved?
Vivad Se Vishwas Scheme Act, 2020
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, “C” BENCH : BANGALORE
Before: SHRI N.V. VASUDEVAN & SHRI B R BASKARAN
Per N.V. Vasudevan, Vice President These appeals by the assessee are against the separate orders dated 14.12.2017 of the CIT(Appeals)-1, Bengaluru for the assessment years 2012-13 & 2013-14.
The ld. counsel for the assessee during the course of hearing submitted that assessee is considering to opt for Vivad Se Vishwas Scheme Act, 2020 [VSVS] by filing necessary declaration with regard to these appeals. The Bench pointed out that the Bangalore Benches in such cases is dismissing the appeal as withdrawn, with liberty to seek recall of the order, to which he agreed. Accordingly, the appeals are dismissed as withdrawn. However, the assessee is at liberty to seek recall of this order in the event of completion of formalities under the VSVS.
In the result, the appeals by the assessee are dismissed as withdrawn.
Pronounced in the open court on this 26th day of November, 2020.
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