MONSANTO INDIA LIMITED,MUMBAI vs. DCIT RG- 10(2)(2), MUMBAI

These cross appeals in 2123/Mum/2018 for A.Y.2011-12 arise out of the order by the ld. Commissioner of Income Tax (Appeals)-17, Mumbai in appeal No.CIT(A)-17/IT-387/14-15 dated 31/01/2018 (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 23/02/2015 by the ld. Dy. Commissioner of Income Tax-10(2)(2), Mumbai (hereinafter referred to as ld. AO).

At the outset, the ld. Counsel for the assessee stated in letter dated 08/02/2021 that assessee had preferred an application under Vivad-se-Vishwas Scheme 2020 in respect of the aforesaid assessment years by filing Form No.3 before the competent authority.

We have heard rival submissions and perused the materials available on record. Since, the assessee had already filed an application under direct tax “Vivad Se Viswas Scheme Act 2020”, there is no need to keep the appeal pending before us in view of the decision of Hon'ble Madras High Court in the case of Nannusamy Mohan (HUF) vs. ACIT in T.C.A. No.372 of 2020 dated 16.10.2020, wherein the Hon‟ble High Court after considering the intention of the assessee to avail the benefit of „Vivad se Vishwas Scheme-2020‟ (VSV scheme), had dismissed the appeal by observing in Para 7 to 9 as under:-

In the light of the above, we direct the appellant/ assessee to file the Form No.I on or before 20.11.2020 and the competent authority shall process the application/ declaration in accordance with the Act and pass appropriate orders as expeditiously as possible preferably within a period of 6 (6) weeks from the date on which the declaration is filed in the proper form.

With this declaration, the Tax Case appeal stands disposed of with the aforementioned liberty and Consequently the Substantial Question of Law are left upon. No costs.”

In the light of the view taken by Hon‟ble Madras High Court cited (supra), we also give liberty to the assessee to get the appeal restored in the event that the assessee does not succeed on the declaration filed by the assessee under direct tax “Vivad Se Viswas Scheme-2020”. In other words if the assessee‟s declaration to be filed is not accepted by the Revenue for any reason whatsoever, the assessee can make a prayer before the Bench for recalling of the order by filing a miscellaneous application for restoration of appeal. The Registry will place such petition before the Bench concerned.

In view of the aforesaid observations, we dismiss these cross appeals with a liberty to get them recalled in the eventuality of assessee‟s declaration not getting accepted by the Revenue.

In the result, the appeal of the assessee as well as that of the revenue are dismissed.