CABLE CORPORATION OF INDIA LTD.,MUMBAI vs. DCIT -2 (1)(1), MUMBAI

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ITA 4980/MUM/2018Status: DisposedITAT Mumbai13 January 2021AY 2008-093 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal treated the appeal as dismissed and withdrawn in light of the assessee's settlement under the Vivad Se Viswas Scheme. Liberty was granted to restore the appeal if the declaration under the scheme is declared bad in law.

What were the facts?

The assessee filed an appeal before the ITAT. Subsequently, the assessee filed an application under the Vivad Se Viswas Scheme, 2020, to settle the tax dispute for the assessment year in question.

What were the issues?

The primary issue was the impact of the assessee opting for the Vivad Se Viswas Scheme on the pending appeal before the tribunal.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VIRTUAL COURT

Before: SHRI M.BALAGANESH, AM & SHRI AMARJIT SINGH, JM

For Appellant: Shri Nilesh Joshi & Shri Nishit
For Respondent: Ms. Shreekala Pardeshi
Hearing: 13/01/2021Pronounced: 13/01//2021

आदेश / O R D E R PER M. BALAGANESH (A.M):

1.

This appeal in A.Y.2008-09 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-4, Mumbai in appeal No.CIT(A)-4(e)-file-33/DCIT-2(1)(1)/2016-17 dated 17/07/2018 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) r.w.s. 147 of the Income Tax Act, 1961 (hereinafter referred to as Act)

M/s. Cable Corporation of India Ltd., dated 23/03/2016 by the ld. Dy. Commissioner of Income Tax, Circle 2(1)(1), Mumbai (hereinafter referred to as ld. AO).

2.

We find that the ld. AR filed a letter dated 12/01/2021 mentioning that assessee had preferred an application under direct tax “Vivad Se Viswas Scheme 2020” to settle this tax dispute for the year under consideration and had obtained Form-3 from the designated authority thereon, copy of which was enclosed alongwith this letter.

3.

In view of this, we hereby treat the appeal pending before us as dismissed and withdrawn with a liberty given to the assessee to get the appeal restored in the event that assessee’s declaration made under “Vivad Se Viswas Scheme 2020” is declared bad in law in future for any reason whatsoever.

4.

In the result, appeal of the assessee is dismissed.

Order pronounced in the Open Court on 13/01/2021.

Sd/- Sd/- (AMARJIT SINGH) (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai; Dated 13/01/2021 KARUNA, sr.ps

M/s. Cable Corporation of India Ltd.,

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