AKM ENTERPARISES P.LTD,MUMBAI vs. ITO 5(1)(1), MUMBAI

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ITA 5124/MUM/2014Status: DisposedITAT Mumbai11 February 2021AY 2005-063 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 noted that the assessee had opted for the 'Vivad se Vishwas Scheme 2020' and had filed the necessary application. Therefore, keeping the appeal pending would serve no purpose.

What were the facts?

The assessee filed an appeal against an order passed under Section 143(3) read with Section 147 of the Income Tax Act. At the time of hearing, the assessee did not appear but submitted a letter indicating their intention to settle the tax litigation under the 'Vivad se Vishwas Scheme 2020'.

What were the issues?

Whether the appeal should be kept pending when the assessee has opted for a settlement scheme. The applicability and implications of the 'Vivad se Vishwas Scheme 2020' on pending appeals.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147,Section 250,Section 254(2)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, MUMBAI

O R D E R PER PAVAN KUMAR GADALE: The assessee has filed the captioned appeal against the order of the Commissioner of Income Tax AKM Enterprises Pvt. Ltd. - 2 - (Appeals) - 9, Mumbai, passed u/s. 143(3) r.w.s. 147 and 250 of the Income Tax Act, 1961.

2.

At the time hearing, none appeared on behalf of the assessee. The assessee has filed a letter dated 04.02.2021 that the assessee is intend to settle the tax litigation by opting for ‘Vivad se Vishwas Scheme 2020’(VSVS2020) and filed an application in Form No. 1 & 2 under VSVS Rules 2020. Contra, the Ld. DR has no objections.

3.

We heard the rival contentions and perused the material on record. Since the assessee has opted for ‘Vivaad se Vishwas Scheme 2020’ and has filed letter dated 04.02.2021 mentioning that the assessee has applied under VSVS 2020 and received Form-3 from the Income Tax Department. We are of the view that, no purpose will be served in keeping the appeal pending. Accordingly, we dismiss the appeal of the assessee as withdrawn and the assessee is given liberty to move an application u/s 254(2) of the Act to recall the present order in accordance with the provisions of law.

AKM Enterprises Pvt. Ltd. - 3 - 4. In the result, the appeal filed by the assessee is dismissed.

Order pronounced in the open court on 11.02.2021.

1.

Sd/- Sd/- (SHAMIM YAHYA) (PAVAN KUMAR GADALE) ACCOUNTANT MEMBER JUDICIAL MEMBER Mumbai, Dated 11.02.2021 AK, PS आदेश क� �ितिलिप अ�ेिषत/Copy of the Order forwarded to : 1. अपीलाथ� / The Appellant 2. ��यथ� / The Respondent. 3. संबंिधत आयकर आयु� / The CIT(A) 4. आयकर आयु�(अपील) / Concerned CIT िवभागीय �ितिनिध, आयकर अपीलीय अिधकरण, मुंबई / DR, ITAT, Mumbai 5. 6. गाड� फाईल / Guard file. आदेशानुसार/ BY ORDER, स�यािपत �ित //True Copy// 1. उप/सहायक पंजीकार ( Asst. Registrar) आयकर अपीलीय अिधकरण, मुंबई / ITAT, Mumbai

2. Other Member… on which the

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