What did the Tribunal hold?

The Tribunal allowed the assessee to withdraw the appeals. Liberty was granted to move for recall of the order if the VSVS scheme was not accepted or if the assessee wished to opt out.

The assessee sought to withdraw its appeals before the ITAT. The assessee had decided to opt for the VSVS 2020 scheme and had filed the necessary forms. The revenue did not object to the withdrawal.

What were the issues?

The primary issue was whether the assessee should be allowed to withdraw its appeals in light of opting for the VSVS 2020 scheme.

Manyata Promoters Private… vs DCIT | ITAT Bangalore 2020

Income Tax Appellate Tribunal, ‘C’ BENCH : BANGALORE

Before: SHRI. B. R. BASKARAN & SMT. BEENA PILLAI

For Appellant: Shri Ajayrotti, C.A

For Respondent: Shri Pradeep Kumar, CIT (DR)

Date of Hearing : 15-10-2020 Date of Pronouncement : -10-2020 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present appeals has been filed by assessee against order dated 28/02/2020 passed by Ld.CIT-11 for assessment years under consideration. 2. At the outset, Ld.AR vide letter dated 15/10/2020 submitted that assessee has decided to go in for VSVS 2020 and that Form 1 in respect of years under consideration has been filed. He accordingly submitted that, appeals filed by assesse for Page 2 of 3 to 596/Bang/2020 assessment years under consideration, may be allowed to be withdrawn with liberty.

Ld.Sr.DR do not object to the same.

We have perused submissions advances by both sides in light of records placed before us.

As assessee has sought for VSVS- scheme 2020, no purpose will be served in keeping the present appeal pending. Considering the situation, we dismiss the present appeal as withdrawn. However, liberty is granted to move appropriate application for recall of this order, in the event, Form 1 filed by assessee is not accepted by revenue or assessee wishes to opt out of VSVS scheme 2020. Accordingly, assessee’s appeals for years under consideration is allowed to be withdrawn with liberty. In the result, assessee’s appeals are dismissed as withdrawn. Order pronounced in the open court on 20th Oct, 2020.

Sd/- Sd/- (B. R. BASKARAN) (BEENA PILLAI) Accountant Member Judicial Member Bangalore, Dated, the 20th Oct, 2020. /Vms/ Copy to: 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR, ITAT, Bangalore 6. Guard file By order Assistant Registrar, ITAT, Bangalore.

Page 3 of 3 to 596/Bang/2020 Date Initial On Dragon 1. Draft dictated on Sr.PS -10-2020 2. Draft placed before Sr.PS author -10-2020 3. Draft proposed & placed JM/AM before the second member -10-2020 4. Draft discussed/approved JM/AM by Second Member. -10-2020 5. Approved Draft comes to Sr.PS/PS the Sr.PS/PS -10-2020 6. Kept for pronouncement Sr.PS on -10-2020 7. Date of uploading the Sr.PS order on Website -- 8. If not uploaded, furnish Sr.PS the reason -10-2020 9. File sent to the Bench Sr.PS Clerk 10. Date on which file goes to the AR 11. Date on which file goes to the Head Clerk.

12.

Date of dispatch of Order. No 13. Draft dictation sheets are Sr.PS attached

MANYATA PROMOTERS PRIVATE LIMITED,BENGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1(3), BENGALURU

What did the Tribunal hold?

What were the facts?

What were the issues?

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