M/S. NAGASE & COMPANY LTD.,MUMBAI vs. ADIT (I.T) - RG.-3(2), MUMBAI

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ITA 1801/MUM/2007Status: DisposedITAT Mumbai20 January 2021AY 1999-20003 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal noted that the assessee had opted for settlement under the Vivad Se Vishwas Scheme. Consequently, all appeals were dismissed as withdrawn, with liberty granted to seek restoration if the scheme declaration was not accepted.

What were the facts?

The assessee and revenue filed cross-appeals contesting orders of the first appellate authority for various assessment years. The assessee had opted for settlement under the Direct Tax Vivad Se Vishwas Scheme, 2020.

What were the issues?

The primary issue was the impact of the assessee opting for the Vivad Se Vishwas Scheme on the pending appeals.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “I” BENCH, MUMBAI

Before: HON’BLE SHRI MAHAVIR SINGH, VP & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM

For Appellant: Shri Nitesh Joshi-Ld. AR
For Respondent: Shri Vijay Kumar Subramanian- Ld. DR

Heard together (6 matters)

I.T.A. No.116/Mum/2006
I.T.A. No.117/Mum/2006
I.T.A. No.1801/Mum/2007
I.T.A. No.1802/Mum/2007
I.T.A. No.370/Mum/2006
I.T.A. No.366/Mum/2006

Read from the judgment's own cause title. This page is filed under one of them.

आदेश / O R D E R

Per Bench 1. The captioned cross-appeals for various assessment years contest separate orders of learned first appellate authority on certain grounds as mentioned along with Form 36. 2. The Ld. Counsel for assessee, Shri Nitesh Joshi, at the outset, submitted that the assessee has already opted for settlement of dispute for all these years under Direct Tax Vivad Se Vishwas Scheme (VVS Scheme), 2020 and therefore, the appeals may be dismissed with a liberty to seek restoration in case the assessee do not succeed therein. The Ld. DR also raised similar plea. 3. Since the assessee has already opted for settlement of dispute as aforesaid, all the appeals stand dismissed as withdrawn with liberty to assessee-appellant as well as revenue-appellant to seek restoration of the appeals in case the aforesaid declaration filed under the scheme is not accepted, for whatever reasons.

4.

All the appeals stand dismissed as withdrawn in terms of our above order. Order pronounced on 20th January, 2021.

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