DCIT (IT) 2(3)(2), MUMBAI vs GENERAL ELECTRIC CAPITAL CORPORATION, MUMBAI

Income Tax Appellate Tribunal, MUMBAI ‘I’ BENCH, MUMBAI

ORDER Per Bench:- 1. This appeal, filed by the Assessing Officer, calls into question the correctness of the order dated 28.06.2016, passed by the Ld. CIT(A)-56, Mumbai in the matter of assessment u/s.143(3) r.w.s. 144C (3) of the Income Tax Act, 1961, for the assessment year 2011-12.

When the appeal was called out for hearing, the ld. Counsel of the assessee submitted that he has filed the necessary declaration under Direct Tax Vivad se Vishwas Act, 2020 (Act 3 of 2020) and is awaiting for final resolution of the matter under the said scheme.

On a suggestion from the Bench the learned Departmental Representative accepted for withdrawal of appeal as long as the right of the Revenue is protected for revival of the Page 2 of 2 appeal, if for some unforeseen reason the matter being not settled under Vivad se Vishwas scheme.

In view of the above, we dismiss the appeal as withdrawn, subject to the rider that in the unlikely event of matter not being resolved under the Vivad se Vishwas scheme, the appellant shall have liberty to approach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

DCIT (IT) 2(3)(2), MUMBAI vs. GENERAL ELECTRIC CAPITAL CORPORATION, MUMBAI