M/S NILESH METAL COMPANY,MUMBAI vs. ITO - 19(3)(1), MUMBAI

This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals)-7, Mumbai ( in short ‘the CIT(A)’) dated 03/05/2019 for the assessment year 2009-10.

Ms. Pooja C, appearing on behalf of the assessee submitted that the assessee is opting for ‘Viwad Se Vishwas Scheme, 2020’( in short ‘VSVS’) therefore, this appeals may be dismissed as withdrawn at this stage. The liberty may be provided to the assessee to revive the appeal in case the matter fails to mature under ‘VSVS’.

Shri Sanjay J. Sethi, representing the Department stated that the Department has no objection if the assessee wants to withdraw appeal to avail the benefit of ‘VSVS’.

Heard. In view of the above statement made by ld. Authorized Representative for the assessee, the assessee is allowed to withdraw appeal at this stage. Thus, the appeal of assessee is dismissed as withdrawn.

Liberty is granted to the assessee to restore the appeal in the event application filed by the assessee under VSVS fails to mature. It is further made clear that if the assessee /appellant seeks to restore the appeal 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 delayed 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The appeal of assessee is dismissed as withdrawn with the liberty aforesaid.