RABO INDIA FINANCE LTD,MUMBAI vs. ASST CIT 1(3), MUMBAI

Shri Percy Pardiwalla, learned Senior Counsel appearing for the assessee , at the outset, submitted that the assessee has opted for settling the dispute arising in these appeals by filing applications under the Direct Tax “Vivad se Vishwas Act, 2020”. In support, copies of Form No.1 and 2 were submitted before us. On a suggestion from the Bench, the learned Counsel fairly accepted that the appeals may be dismissed as withdrawn, however, the assessee may be granted liberty to seek restoration of the appeals if, due to some unforeseen reasons, the applications filed under the “Vivad se Vishwas Act, 2020” are not accepted by the department. The Learned Departmental Representative did not have any objection to the aforesaid submission.

Having heard the parties and considering the fact that the assessee has already applied for settling the dispute arising in the present appeals under the “Vivad se Vishwas Act, 2020”, we are inclined to dismiss these appeals as withdrawn. However, in the unlikely event of assessee’s application filed under the “Vivad se Vishwas Act, 2020” being not accepted by the department, liberty is granted to the assessee to seek recall of this order and restoration of the appeals.

In the result, appeals filed by the assessee are dismissed with the aforementioned liberty.