ASHOK G BAFNA (HUF),MUMBAI vs. ITO WARD 19 (1)(2), MUMBAI

This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals)-3, Mumbai ( in short ‘the CIT(A)’) dated 26/12/2018 for the assessment year 2014-15.

The assessee has filed a letter dated 31/12/2020 intimating that the assessee has opted for ‘Viwad Se Vishwas Scheme, 2020’( in short ‘VSVS’) and has made application in the prescribed Form No. 1 & 2 on 24/12/2020. Shri Parag R. Shah appearing on behalf of assessee made statement during the proceedings that the assessee may be allowed to withdraw appeal with liberty to revive in case the application made under VSVS is not accepted.

Shri Sushil Kumar Mishra representing the Department stated that the Department has no objection if the assessee wants to avail the benefit of ‘VSVS’.

Heard. In view of the fact that the assessee has opted for VSVS, and as per statement of ld. Authorized Representative for the assessee, the appeal of assessee is dismissed as withdrawn at this stage.

Liberty is granted to the assessee to revive the appeal in the event application filed by the assessee under VSVS fails to mature. It is further made clear that if the assessee /appellant seeks to restore the appeal in the event assessee’s declaration made under VSVS is not accepted, the Registry shall not insist for filing of application for condonation of delay, if the Miscellaneous Application for recalling the order is filed beyond time on account of delay in communication of outcome under VSVS. [ Re. M/s. Nannusamy Mohan(HUF) vs. ACIT in T.C.A No.372 of 2020 decided on 16/10/2020 by Hon’ble Madras High Court]

The appeal of assessee is dismissed as withdrawn with the liberty aforesaid.