SHRI MIKHIL KUMAR MAGANLAL JAIN,MUMBAI vs. INCOME TAX OFFICER 18(2)(3) PRESENTLY INCOME TAX OFFICER 21(2)(3), MUMBAI

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ITA 1279/MUM/2018Status: DisposedITAT Mumbai22 December 2020AY 2003-042 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The Tribunal dismissed the appeal as withdrawn, with liberty to the assessee to approach for restoration if the Vivad se Vishwas settlement fails.

What were the facts?

The assessee filed an appeal against an order for assessment year 2003-04. The assessee had also filed a declaration under the Direct Tax Vivad se Vishwas Act, 2020.

What were the issues?

The primary issue was the pendency of the appeal while the assessee sought resolution under the Vivad se Vishwas scheme.

Which sections of the Income-tax Act were involved?

Section 144

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI “D” BENCH, MUMBAI

O R D E R Per Bench:

1. 1. By way of this appeal, the assessee appellant has called into question correctness of the order dated 14.11.2017 passed by the learned CIT(A)-33, Mumbai in the matter of assessment u/s.144 of the Income Tax Act, 1961, for the assessment year 2003-04.

2. When this appeal was called out for hearing, it is noticed that the assessee has filed the necessary declaration under Direct Tax Vivad se Vishwas Act, 2020 (Act 3 of 2020) and is awaiting for final resolution of the matter under the said scheme.

Assessment Year: 2003-04 Page 2 of 2 3. The ld. DR also did accept our suggestion that this appeal can be dismissed, with the liberty to the assessee to approach the Tribunal, if for some unforeseen reason, there are issues with respect to settlement of the matter under Vivad se Vishwas scheme, 2020.

4.

In view of the above, we dismiss the appeal as withdrawn, subject to be rider that in the unlikely event of matter not being resolved under the Vivad se Vishwas scheme, the assessee shall have liberty to approach the Tribunal for restoration of his appeal.

5.

In the result, the appeal is dismissed as withdrawn – subject to the observation above. Pronounced in the open court today on the 22nd December, 2020.

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