What did the Tribunal hold?

The Tribunal decided to dismiss the appeal for the time being, as the assessee is settling the dispute under the VVS Scheme. The assessee is granted liberty to seek restoration if the declaration under the scheme is not accepted.

The assessee, Wyeth Pharmaceuticals India Private Ltd., filed an appeal for Assessment Year 2014-15. The assessee later expressed an intention to opt for the Direct Tax Vivad Se Vishwas Scheme (VVS Scheme) 2020.

What were the issues?

The primary issue was the assessee's intention to settle the dispute under the Vivad Se Vishwas Scheme, leading to the dismissal of the appeal.

Wyeth Pharmaceuticals India P. Ltd vs ITO | ITAT Mumbai 2021

Income Tax Appellate Tribunal, “G” BENCH, MUMBAI

Before: HON’BLE SHRI MAHAVIR SINGH, VP & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM

For Respondent: Shri T.S. Khalsa-Sr. DR

O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by assessee for Assessment Year 2014-15, contests the order of learned first appellate authority on certain grounds of appeal

2. The assessee, vide e-mail dated 05/01/2021, expressed intention to opt for Direct Tax Vivad Se Vishwas Scheme (VVS Scheme) 2020, for this year. The ld. DR submitted that the appeal may be dismissed for the aforesaid reason.

2 Wyeth Pharmaceuticals India P. Ltd. Assessment Year: 2014-15 3. Keeping in view the contents of e-mail, since the assessee is settling the dispute under Direct Tax Vivad Se Vishwas Scheme (VVS Scheme), 2020, we are inclined to dismiss the appeal for the time being with a liberty to the assessee to seek restoration of appeal in case declaration filed under the scheme is not accepted for whatever reasons. 4. The appeal stands dismissed in terms of our above order.

WYETH PHARMACEUTICALS INDIA P. LTD,MUMBAI vs. ITO 14 (3)(3), MUMBAI

What did the Tribunal hold?

What were the facts?

What were the issues?

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