MRS. GITANJALI GUPTA,BANGALORE vs. INCOME TAX OFFICER, WARD - 4(3)(3), BANGALORE

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ITA 1175/BANG/2019Status: DisposedITAT Bangalore13 August 2020AY 2015-163 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 noted that the assessees had opted for the Vivad Se Vishwas Scheme and would be withdrawing their appeals. Therefore, the Tribunal dismissed the appeals as withdrawn, granting liberty to move for recall if necessary.

What were the facts?

The assessees filed appeals challenging additions made by the AO regarding long-term capital gains on share sales. During the hearing, the assessees stated they had opted for the Vivad Se Vishwas Scheme, 2020, and were awaiting the final certificate.

What were the issues?

Whether the appeals should be kept pending or dismissed as withdrawn due to the assessee opting for the Vivad Se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Direct Tax Vivad Se Vishwas Act, 2020

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH : BANGALORE

Before: SHRI N.V. VASUDEVAN & SHRI B R BASKARAN

For Appellant: Shri Rajiv S. Nulvi, CA
For Respondent: Shri Priyadarshi Mishra, Jt.CIT(DR)(ITAT), Bengaluru
Hearing: 18.06.2020Pronounced: 13.08.2020

Per B.R. Baskaran, Accountant Member All the assessees herein have filed appeals challenging the order dated 15-03-2019 passed by Ld CIT(A)-4, Bengaluru in their respective hands for assessment year 2015-16. The assessee is aggrieved by the decision of Ld CIT(A) in confirming the addition made by the AO by rejecting the claim of long term capital gains declared on sale of shares.

2.

At the time of hearing, the Ld A.R submitted that all these assessees have filed applications under the Direct Tax Vivad Se Vishwas Act, 2020 and are waiting for the certificate in Form No.3 from the Pr. CIT. Accordingly the Ld A.R submitted that the matter may be kept pending.

3.

The Ld D.R, however, submitted that these assessees have to withdraw the pending appeals after filing Form VSV1 as per Vivad Se Vishwas Act, 2020. Thereafter, the assessees are required to furnish a copy of the same along with the proof of payment of tax as determined by the tax official to the department. He submitted that the Form no.3 shall be issued to the assessees in due course and accordingly he submitted that the appeals of the assessee may be dismissed as withdrawn, as the assessees, in any way, are required to withdraw the appeal.

4.

We heard the parties and perused the record. Since the assessees herein have opted for Vivad Se Vishwas Scheme, 2020, the appellants would be moving application for withdrawing the present appeals filed by them before the Tribunal in due course. Since the assessees have already filed the 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 the appeals of the assessees as withdrawn.

5.

The Ld A.R, however, submitted that the assessees may be given liberty to move application for recall of the order, as the applications of these assessees are yet to be accepted by the department. We notice that the assessees have stated that they have not received Form no.3, in which the tax amount to be paid by the assessee shall be intimated by the department. Hence, it appears that the assessees want to make sure that the tax liability mentioned by him in Form no.1 should get confirmed by the revenue. Under these set of facts, since we have dismissed the appeals, the assessees are given liberty to move appropriate application for recall of the present order in accordance with the law, if the assessees intend to do so.

6.

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

Pronounced in the open court on this 13th day of August, 2020.

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