SR KKRISHNA ARJUN TRADING & INVESTMENT CO.(P) LTD.,KOLKATA vs. DCIT, CIRCLE - 5(1), KOLKATA

PDF · subscribers
ITA 587/KOL/2019Status: DisposedITAT Kolkata01 October 2021AY 2013-142 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal granted the assessee's application for withdrawal of the appeal. The appeal was dismissed as withdrawn due to the settlement under the Vivad Se Vishwas Scheme.

What were the facts?

The assessee filed an appeal against an ITAT order. The assessee later sought to withdraw the appeal, stating a decision to settle the dispute under the Direct Tax Vivad Se Vishwas Act, 2020.

What were the issues?

Whether an appeal can be withdrawn due to settlement under the Vivad Se Vishwas Act, 2020.

Which sections of the Income-tax Act were involved?

Section 5(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA BENCH ‘(A

Before: SHRI P.M. JAGTAP, HON’BLE(KZ) & SHRI A. T. VARKEY, HON’BLE]

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH ‘(A)’, KOLKATA [BEFORE SHRI P.M. JAGTAP, HON’BLE VICE PRESIDENT (KZ) & SHRI A. T. VARKEY, HON’BLE JUDICIAL MEMBER] [Through Virtual Court] Assessment Year: 2013-14 Sri Krishna Arjun Trading & Investments Co. Pvt. Ltd.........................................Appellant Mcleod House, 3rd Floor, 3, N. S. Road, Kolkata-1. [PAN: AAGCS7693N] Vs. DCIT, Circle-5(1), Kolkata ............................................ .............................................Respondent Appearances by: None appearing on behalf of the Assessee. Shri Jayanta Khangra, JCIT, appearing on behalf of the Revenue. Date of concluding the hearing : October 1, 2021 Date of pronouncing the order : October 1, 2021 ORDER PER P.M. JAGTAP, VICE-PRESIDENT (KZ)

This appeal filed by the assessee is directed against the order of the Commissioner of Income Tax-7, Kolkata dated 17.01.2019 for assessment year 2013-14.

2.

In this case, the Director of the assessee-company has moved an application seeking withdrawal of this appeal on the ground that the assessee has decided to settle the dispute involved in the said appeal under the Direct Tax Vivad Se Vishwas Act, 2020. The assessee has duly filed the declarations in Form No. 1 and Form No. 2 and the Designated Authority has issued the certificate in Form No. 3 as per Section 5(1) of the Scheme determining the tax payable by the assessee.

Assessment Year: 2013-14 Sri Krishna Arjun Trading & Investments Co. Pvt. Ltd 3. Keeping in view these facts and circumstances of the case including especially the fact that the assessee has duly complied with the necessary requirements under Vivad Se Vishwas Scheme, 2020, the permission as sought by the assessee is granted and this appeal of the assessee is dismissed as withdrawn.

4.

In the result, the appeal of the assessee is dismissed as withdrawn.

Order Pronounced in the Open Court on 1st October, 2021.

More judgments on Section 5(1)

All 1,811 judgments and leading authorities on Section 5(1) →

Recent GST High Court judgments

Search GST case law →