M/S. THE URBAN CO-OPERATIVE BANK LIMITED,BHALKI vs. THE DIRECTOR OF INCOME TAX (INTELLIGENCE AND CRIMINAL INVESTIGATIONS), BANGALORE

The assessee has filed these appeals challenging common order dated 13.5.2019 passed by the CIT(A)-13, Bengaluru confirming levy of penalty under Sec.271FA of the Income Tax Act, 1961 (Act). These appeals relate to AY 09-10 to 14-15 corresponding to Financial year 2008-09 to 13-14.

At the time of hearing of this appeal, the learned Counsel for the Assessee has filed a Memo dated 29.9.2020 wherein it has been mentioned that the appellant is seriously contemplating to settle the disputes in these appeals under The Direct Tax Vivad Se Vishwas Act 2020 and has made a prayer for adjourning the matter so that the process completed under the aforesaid Scheme is completed. Accordingly the assessee has prayed for adjournment of these appeals. to 1542/Bang/2019 M/S.The Urban Co-operative Bank Ltd.

Since the assessee is opting for settlement under Vivad Se Vishwas Scheme, 2020, the appellant has to withdraw the present appeals filed before the Tribunal in due course. Since the assessee is contemplating to file necessary applications before the tax authorities under the above said scheme, we are of the view that no purpose will be served in keeping these appeals pending. Accordingly we dismiss all these appeals of the assessee. The assessee is however given liberty to move appropriate application for recall of the present order in accordance with the law, if due to other circumstances and if the assessee intends to do so.

In the result, the appeals of the assessee are dismissed as withdrawn.