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

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ITA 5701/MUM/2016Status: DisposedITAT Mumbai14 January 2021AY 2011-122 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The tribunal dismissed the appeal as withdrawn, acknowledging the assessee's participation in the Vivad se Vishwas scheme. The Revenue's right to revive the appeal was protected if the matter was not resolved under the scheme.

What were the facts?

The Assessing Officer appealed against an order of the CIT(A) for the assessment year 2011-12. The assessee informed the tribunal that they had filed a declaration under the Direct Tax Vivad se Vishwas Act, 2020.

What were the issues?

The primary issue was the pendency of the appeal in light of the assessee opting for the Vivad se Vishwas scheme.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C(3)

AI-generated summary — verify with the full judgment below

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.

2.

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.

3.

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.

4.

In view of the above, we dismiss the appeal as withdrawn, subject to the rider that in the unlikely event of matter not being resolved under the Vivad se Vishwas scheme, the appellant shall have liberty to approach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

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