COVESTRO (INDIA) P.LTD,THANE vs. ASST CIT CIR 1, THANE

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ITA 2288/MUM/2017Status: DisposedITAT Mumbai31 December 2020AY 2012-132 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 acknowledged the settlement under the Vivad Se Vishwas Scheme. As the matter was resolved, the appeal was permitted to be withdrawn.

What were the facts?

The assessee filed an appeal before the ITAT. The assessee subsequently filed a petition seeking withdrawal of the appeal. This was due to the matter being settled under the Vivad Se Vishwas Scheme 2020.

What were the issues?

The primary issue was whether an appeal could be withdrawn after the assessee opted for settlement under the Vivad Se Vishwas Scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI ‘K’ BENCH, MUMBAI

O R D E R Per Pramod Kumar, VP : 1. The assessee has moved petition seeking withdrawal of the appeal on the ground that the matter is settled under Vivad Se Vishwas Scheme 2020.

2.

Learned Departmental Representative does not oppose the prayer so made by the assessee.

3.

There is no dispute that once the matter is resolved under Vivad Se Vishwas Scheme 2020, the related appeal is required to be withdrawn.

4.

In view of the above position, as also bearing in mind entirety of the case, we deem it fit and proper to dismiss the appeal as withdrawn.

IT(TP)A No. 2288/Mum/2017 Assessment Year: 2012-13 Page 2 of 3

5.

In the result, the appeal is dismissed as withdrawn. Pronounced in the open court today on the 31st day of December, 2020.

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