MATRIX PUBLICITIES AND MEDIA INDIA P.LTD,MUMBAI vs. ASST CIT 12(3)(2), MUMBAI

This is an appeal by the assessee against the assessment order dated 31.01.2017 passed u/s 143 (3) r.w.s 144C (13) of the Income Tax Act, 1961 for the assessment year 2012-13 in pursuance to directions of learned Dispute Resolution Panel (DRP) – 3, Mumbai.

We have heard the parties and perused the material on record. The learned counsel for the assessee submitted, assessee has filed application under Direct Tax Vivad se Vishwas Act, 2020 for settling the dispute arising in this appeal. A letter dated 13th December, 2020 enclosing the acknowledgement in Form No. 1 and 2 have also been filed before us. Considering the fact that the assessee has opted for settling the dispute under Vivad se Vishwas Act, 2020, we are inclined to dismiss the appeal as withdrawn. However, liberty is granted to the assessee to seek restoration of 2 IT (TP)A No. 2308/ MUM/2017 Assessment Year: 2012-13 this appeal, in the event, the declaration filed under the Vivad se Vishwas Act, 2020 is not accepted by the Department. In the result, appeal filed by the assessee is dismissed with the aforementioned liberty.