DY CIT CC 5 (3), MUMBAI vs. M/S ESKAY KNIT (I) LTD., MUMBAI

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ITA 760/MUM/2020Status: DisposedITAT Mumbai27 November 2020AY 2016-172 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal acknowledged the settlement under the Vivad Se Vishwas Scheme. As the matter was resolved, the appeal was no longer required to be pursued.

What were the facts?

The assessee filed a petition seeking withdrawal of their appeal. The reason for withdrawal was that the matter had been settled under the Vivad Se Vishwas Scheme 2020.

What were the issues?

The primary issue was whether an appeal could be withdrawn when the underlying dispute was settled under a tax dispute resolution scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI ‘E’ BENCH, MUMBAI

O R D E R Per Pramod Kumar, VP :

1.

The assessee has moved petition seeking withdrawal of the appeal on the ground that the matter is settled under Vivad Se Vishwas Scheme 2020.

2.

Learned Departmental Representative does not oppose the prayer so made by the assessee.

3.

There is no dispute that once the matter is resolved under Vivad Se Vishwas Scheme 2020, the related appeal is required to be withdrawn.

4.

In view of the above position, as also bearing in mind entirety of the case, we deem it fit and proper to dismiss the appeal as withdrawn.

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