MAGNAMIOUS SYSTEMS PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX RANGE 10(2)(2), MUMBAI

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ITA 6824/MUM/2017Status: DisposedITAT Mumbai06 January 2021AY 2013-142 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The Tribunal dismissed the appeal as withdrawn, with a condition. The assessee can approach the Tribunal for restoration if the matter is not resolved under the Vivad se Vishwas scheme.

What were the facts?

The assessee filed an appeal against the CIT(A)'s order for AY 2013-14. The assessee's counsel informed the tribunal that a declaration under the Direct Tax Vivad se Vishwas Act, 2020 was filed and they were awaiting resolution.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to the assessee opting for the Vivad se Vishwas scheme, while protecting the right to revival.

Which sections of the Income-tax Act were involved?

Direct Tax Vivad se Vishwas Act, 2020

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “D” BENCH, MUMBAI

Before: SHRI RAJESH KUMAR, AM & SHRI AMARJIT SINGH, JM

Hearing: 06/01/2021Pronounced: 06/01/2021

स्थायी लेखा सं./जीआइआर सं./PAN/GIR No. : AABCM3570D (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee by: None Revenue by: Shri Bharat Andhale (DR) सुनवाई की तारीख / Date of Hearing: 06/01/2021 घोषणा की तारीख /Date of Pronouncement: 06/01/2021 आदेश / O R D E R

PER AMARJIT SINGH, JM:

1.

This is an appeal filed by the assessee against the order dated 15.09.2017 passed by the Commissioner of Income Tax (Appeals), 17 Mumbai [hereinafter referred to as the “CIT(A)”]. Relevant to the A.Y.2013-14.

2.

When this 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. He submitted that upon completion of the necessary formalities, he will withdraw the appeal. In response to the suggestion from the Bench, he fairly accepted that he has no objection to the appeal being dismissed as withdrawn as long as his right A.Y.2013-14 for revival of the appeal are protected, in the event of, for some unfortunate reason, the matter being not settled under the Vivad se Vishwas scheme.

3.

The Ld. DR has no objection to the above.

4.

In view of the above, we dismiss the appeal as withdrawn, subject to be 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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