POWERGEN HOLDINGS B.V.,MUMBAI vs. DDIT (INTERNATIONAL TAXATION) - 2(1), MUMBAI

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ITA 6128/MUM/2016Status: DisposedITAT Mumbai02 December 2020AY 2002-034 pages

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

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal allowed the assessee to withdraw the appeal as they had opted for the Vivad Se Vishwas Scheme. Liberty was granted to restore the appeal if the scheme application fails.

What were the facts?

The assessee company, Powergen Holdings B.V., filed an appeal before the ITAT. Subsequently, the assessee requested to withdraw the appeal as they had opted for the 'Vivad Se Vishwas Scheme, 2020'. The Department had no objection to this withdrawal.

What were the issues?

Whether the assessee can withdraw their appeal before the ITAT to avail the benefit of the Vivad Se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” BENCH, MUMBAI

Before: SHRI VIKAS AWASTHY & SHRI N.K. PRADHAN

For Appellant: Ms. Urvi Mehta, AR
Hearing: 22.12.2020Pronounced: 22.12.2020

O R D E R श्री विकास अिस्थी, न्याययक सदस्य के द्िारा PER VIKAS AWASTHY, JM: This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals)-55, Mumbai (in short ‘the CIT(A)’) dated 28.06.2016 for the Assessment Year 2002-03.

2.

A request letter dated 01.12.2020 has been received from the assessee stating that the assessee company has opted for ‘Viwad Se Vishwas Scheme, 2020’ (in short ‘VSVS’) and hence, does not want to litigate further. The Relevant extract of the aforesaid letter is reproduced herein below:

1.

In this connection, we would like to point out that we have opted for resolution of disputes under ‘the Direct Tax Vivad Se Vishwas Act, 2020’ [VsV Act”] for the year under consideration. Copies of the following documents in this connection are forwarded herewith i. Form 1 being declaration under sub-section (1) of section 4 of the VsV Act and Form 2 being undertaking referred to in sub- section (5) of section 4 VsV Act –refer “Appendix-A; and ii. Form 3 being certificate under sub-section (1) of section 5 of the VsV Act- refer “Appendix-B”.

In view of the foregoing, we hereby withdraw the current appeal before the Bench and request the Hon'ble Members to Order accordingly.

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