ITO-27(1)(5), MUMBAI vs. SHRI JATIN DALICHAND GOSALIA HUF, MUMBAI

These two appeals by the Revenue in the case of two assessees are directed against the orders of Commissioner of Income Tax (Appeals)-26, Mumbai ( in short ‘the CIT(A)’) for the assessment year 2010-11. Both the impugned orders are dated 27/03/2017.

A letter dated 29/12/2020 has been filed on behalf of the assessees intimating that the assessees are opting for ‘Viwad Se Vishwas Scheme, 2020’ ( in short ‘VSVS’) in both the appeals. The relevant extract of the letter reads as under:-

Shri Susheel Mishra, representing the Department submitted that the Revenue has no objection if the assessee want to settle the dispute under VSVS.

In view of the fact that the assessee is opting for VSVS, the appeals by the Revenue have become infructuous and, hence, are dismissed as such.

Liberty is granted to the Revenue to revive appeals in the event application filed by the assessee under VSVS fails to mature. It is further made clear that if the Revenue /appellant seeks to restore the appeals in the event assessee’s declaration made under VSVS is not accepted, the Registry shall not insist for filing of application for condonation of delay, if the Miscellaneous Application for recalling the order is filed beyond time on account of delay in communication of outcome under VSVS. [ Re. M/s. Nannusamy Mohan(HUF) vs. ACIT in T.C.A No.372 of 2020 decided on 16/10/2020 by Hon’ble Madras High Court]

The appeals of Revenue are dismissed with liberty aforesaid.