M/S.PRISM CONSTRUCTION,MUMBAI vs. DCIT CC-7(4), MUMBAI

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ITA 4433/MUM/2018Status: DisposedITAT Mumbai11 February 2021AY 2013-143 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, considering the assessee's submission and the Direct Tax Vivad Se Vishwas Act, 2020, allowed the withdrawal of the appeal. The appeal was dismissed as withdrawn.

What were the facts?

The assessee filed a declaration under the Direct Tax Vivad Se Vishwas Scheme, 2020, and received Form No. 3 accepting the declaration. The assessee requested to withdraw the present appeal based on this. The appeal was against a penalty levied under Section 271(1)(c).

What were the issues?

Whether an appeal can be withdrawn by the assessee upon opting for the Direct Tax Vivad Se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Section 271(1)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “C” MUMBAI

Before: SHRI C.N. PRASAD & SHRI N.K. PRADHAN

For Appellant: Mr. Kapil K. Jain, AR
For Respondent: Ms. Shreekala Pardeshi, DR
Hearing: 11/02/2021

ORDER PER N.K. PRADHAN, A.M. This is an appeal filed by the assessee. The relevant assessment year is 2013-14. The appeal is directed against the order of the Commissioner of Income Tax (Appeals)-49, Mumbai [in short ‘CIT(A)’] and arises out of penalty levied u/s 271(1)(c) the Income Tax Act 1961, (the ‘Act’).

2.

The Ld. counsel for the assessee submits that the appellant has filed declaration in Form No. 1 and Form No. 2 under the Direct Tax Vivad Se Vishwas Scheme , 2020 and they have received Form No. 3 u/s 5(1) of the Direct Tax Vivad Se Vishwas Act, 2020 from the designated authority, accepting declaration. A copy of Form No. 3 is filed by the Ld. counsel. Thus it is stated that the present appeal be withdrawn.

2 M/s Prism Construction We drew the attention of the Ld. Departmental Representative to the above submission.

3.

We have heard the Ld. counsels and perused the relevant materials on record. The Government of India enacted the Direct Tax Vivad Se Vishwas Act, 2020 (Act No. 3 of 2020) to provide for resolution of disputed tax and for matter connected therewith or incidental thereto. The Act of the Parliament received the assent of the President on 17.03.2020 and was published in the Gazette of India on 17.03.2020. In terms of the said Act, the assessee has been given an option to put an end to the tax disputes, which may be pending at different levels either before the First Appellate Authority or before the Tribunal or before the High Court or before the Supreme Court of India.

Considering the statement of the Ld. counsel and keeping in view the decision of the Hon’ble Madras High Court in the case of M/s Nannusamy Mohan (HUF) v. ACIT (TCA No. 372 of 2020, order dated 16.10.2020), we are inclined to dismiss this appeal filed by the assessee as withdrawn.

4.

In the result, the appeal filed by the assessee is dismissed as withdrawn.

Order pronounced in the open Court on 11/02/2021.

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