M/S NUTAN STEEL INDUSTRIES,MUMBAI vs. ITO 19(2)(4), MUMBAI

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ITA 4906/MUM/2019Status: DisposedITAT Mumbai09 February 2021AY 2011-122 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The Tribunal dismissed the appeal as withdrawn, noting that the assessee had opted for settlement under the Vivad se Vishwas Act. Liberty was granted to seek restoration if the declaration is not accepted.

What were the facts?

The assessee filed an appeal against the CIT(A)'s order. The assessee has since filed a declaration under the Direct Tax Vivad se Vishwas Act, 2020 to settle the dispute.

What were the issues?

The primary issue was the pendency of the appeal when the assessee chose to settle the dispute under a new tax settlement scheme.

Which sections of the Income-tax Act were involved?

Direct Tax Vivad se Vishwas Act, 2020

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “SMC” BENCH, MUMBAI

Before: SHRI SAKTIJIT DEY

For Appellant: Ms. Deepali Wakliwal, (AR)
For Respondent: Smt. Smita Verma, (DR)
Pronounced: 02/02/2021

Date of hearing 02 -02-2021 Date of Pronouncement 02/02/2021 O R D E R

Per Saktijit Dey, JM

1.

This is an appeal by the assessee against the order dated 20-06-2019 of learned Commissioner of Income Tax (Appeals)-7, Mumbai for the assessment year 2011-12.

2.

The learned Authorised Representative submitted, the assessee has filed declaration under the Direct Tax Vivad se Vishwas Act, 2020 for settling the dispute arising in this appeal. However, she submitted, the designated authority has not yet issued Form No.3. On a suggestion from the Bench, the learned

2 ITA 4906/Mum/2019 Authorised Representative fairly accepted for withdrawal of the appeal so long as assessee is granted liberty to seek restoration of the appeal in case of non- acceptance of the declaration by the department. The learned Departmental Representative has no objection for withdrawal of the appeal by the assessee.

3.

I have considered rival submissions and perused materials on record. Keeping in view the fact that the assessee has already filed declaration under the Direct Tax Vivad se Vishwas Act, 2020 for settling the dispute arising in this appeal, I am inclined to dismiss the appeal as withdrawn. However, in the unlikely event of assessee’s declaration not being accepted by the department, liberty is granted to the assessee to seek recall of this order and restoration of the appeal.

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