DYNAMIC FLOW PRODUCTS PVT LTD,MUMBAI vs. DCIT, CIRCLE-12(2)(1), MUMBAI

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ITA 1156/MUM/2019Status: DisposedITAT Mumbai22 December 2020AY 2014-152 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal noted that the assessee's matter was pending resolution under the Vivad se Vishwas scheme. The appeal was dismissed as withdrawn with liberty to the assessee to approach the Tribunal if issues arise with the settlement.

What were the facts?

The Assessing Officer appealed an order related to assessment under Section 271(1)(c) for AY 2014-15. The assessee had filed a declaration under the Direct Tax Vivad se Vishwas Act, 2020.

What were the issues?

The primary issue was the pendency of the assessee's case under the Vivad se Vishwas scheme and its impact on the ongoing appeal.

Which sections of the Income-tax Act were involved?

Section 271(1)(c)

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 Assessing Officer has challenged correctness of the order dated 29.28.06.2017, passed by the learned CIT(A)-20, Mumbai in the matter of assessment u/s.271(1)(c)of the Income Tax Act, 1961, for the assessment year 2014-15.

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) has is awaiting for final resolution of the matter under the said scheme.

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In view of the above, we dismiss the appeal as withdrawn, subject to be rider that in the unlikely event of matter not being resolved under the Vivad se Vishwas scheme, the assessee shall have liberty to approach the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In the result, the appeal is dismissed as withdrawn – subject to the observation above.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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