LODHA DEVELOPERS LIMITED (SUCCESSOR TO MARUTINANDAN REAL ESTATE DEVELOPERS PRIVATE LIMITED),MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-7(3), MUMBAI

ITA 5182/MUM/2018Status: DisposedITAT Mumbai06 January 2021AY 2014-153 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, considering the assessee's intention to settle the dispute under the Vivad Se Vishwas Act, dismissed the appeal as withdrawn. Liberty was granted to seek restoration if the declaration was deemed void.

What were the facts?

The assessee filed a declaration under the Direct Tax Vivad Se Vishwas Act, 2020, and was awaiting further forms. The assessee wished to avail the benefits of this Act to resolve tax disputes.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to the assessee's intention to settle the dispute under the Vivad Se Vishwas Act, 2020.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “A” MUMBAI

Before: SHRI C.N. PRASAD & SHRI N.K. PRADHAN

For Appellant: Mr. Avinash Gupta, AR

For Respondent: Mr. Brajendra Kumar, DR

Hearing: 05/01/2021Pronounced: 06/01/2021

ORDER PER N.K. PRADHAN, A.M. This is an appeal filed by the assessee. The relevant assessment year is 2014-15. The appeal is directed against the order of the Commissioner of Income Tax (Appeals)-49, Mumbai [in short ‘CIT(A)’] and arises out of the assessment completed u/s 143(3) the Income Tax Act 1961, (the ‘Act’).

The Ld. counsel for the appellant submits that the assessee has filed declaration under “Direct Tax Vivad Se Vishwas Act, 2020” (in short ‘VSV Act’) 2 Lodha Developers Ltd.

by filing Form No. 1 & 2 and they are waiting for Form 3 from Pr. CIT (Central), Mumbai-4. Thus it is submitted that the assessee wants to avail the benefit of the above Act.

The Ld. DR has no objection to the above.

We have heard the rival submissions and perused the relevant materials on record. The Government of India enacted the Direct Tax Vivad Se Vishwas Act, 2020 (Act No. 3 of 2020) to provide for resolution of disputed tax and for matter connected therewith or incidental thereto. The Act of the Parliament received the assent of the President on 17.03.2020 and published in the Gazette of India on 17.03.2020. In terms of the said Act, the assessee has been given an option to put an end to the tax disputes, which may be pending at different levels either before the First Appellate Authority or before the Tribunal or before the High Court or before the Supreme Court of India.

Considering the submissions of the Ld. counsels appearing for the parties and keeping in view the decision of the Hon’ble Madras High Court in the case of M/s Nannusamy Mohan (HUF) v. ACIT (TCA No. 372 of 2020, order dated 16.10.2020), we are inclined to dismiss this appeal as withdrawn. However, liberty is granted to the assessee to seek the restoration of this appeal in the event the declaration filed under the aforesaid Act is considered void by the Department. It is further made clear, in such eventuality, if the assessee seeks restoration of this appeal by filing miscellaneous application, the delay if any would be condoned without insisting upon filing any application for condonation of delay.

3 Lodha Developers Ltd.

In the result, the appeal is dismissed as withdrawn, subject to the observation above.

Order pronounced in the open Court on 06/01/2021.

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