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

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ITA 2372/MUM/2018Status: DisposedITAT Mumbai14 January 2021AY 2012-132 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The tribunal dismissed the appeal as withdrawn, with a condition. The condition allows for the revival of the appeal if the matter is not resolved under the Vivad se Vishwas scheme.

What were the facts?

The Assessing Officer appealed against an order of the CIT(A) for the assessment year 2012-13. 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 due to the assessee's participation in the Vivad se Vishwas scheme.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C

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 24.01.2018, passed by the Ld. CIT(A)-56, Mumbai in the matter of assessment u/s.143(3) r.w.s. 144C of the Income Tax Act, 1961, for the assessment year 2012-13.

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In view of the above, we dismiss the appeal as withdrawn, subject to the rider that in the unlikely event of matter not being resolved under the Vivad se Vishwas scheme, the assessee shall have liberty to approach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

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