ITO 20(1)(4), MUMBAI vs. A.R. DEVELOPERS, MUMBAI

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ITA 3053/MUM/2014Status: DisposedITAT Mumbai20 January 2021AY 2007-082 pages

In favour of the assessee: the Revenue'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The Tribunal dismissed the appeal as withdrawn, subject to the condition that if the matter is not resolved under the Vivad se Vishwas scheme, the revenue can seek restoration of the appeal.

What were the facts?

The assessee filed a declaration under the Direct Tax Vivad se Vishwas Act, 2020. The assessee requested the department to withdraw its appeal based on this declaration.

What were the issues?

Whether the appeal should be withdrawn due to the assessee opting for the Vivad se Vishwas scheme.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 “A” MUMBAI

For Appellant: Shri Brajendra Kumar, D.R
For Respondent: Shri Neeraj Mangla, A.R
Hearing: 20/01/2021Pronounced: 20/01/2021

ORDER PER RAVISH SOOD, J.M: The present appeal filed by the assessee is directed against the order passed by the CIT(A)- 31, Mumbai dated 17.02.2014, which in turn arises from the penalty order passed u/s 271(1)(c) of the Income-tax Act, 1961, dated 26.03.2012 for assessment year 2007-08.

2.

The ld. Authorised representative (for short “A.R”) for the assessee had filed a letter on 19/20.01.2021 wherein it is stated that the assessee had filed the necessary declaration under the Direct Tax Vivad se Vishwas Act, 2020 (3 of 2020). In the backdrop of the aforesaid fact, it is requested by the ld. A.R that the department be directed to withdraw its appeal. Our attention was drawn by the Ld. A.R towards the copy of „Form 1‟ evidencing filing of the declaration under the aforesaid scheme.

3.

The ld. D.R did not raise any objection.

4.

In view of the above, we dismiss the appeal as withdrawn, subject to a rider that in the unlikely event of the matter not being resolved under the Vivad se Vishwas scheme for any reason, the revenue shall have liberty to approach the Tribunal for restoration of its appeal.

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