MANTRA EXPORTS PVT. LTD.,MUMBAI vs. C.I.T.-8, MUMBAI

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ITA 2637/MUM/2012Status: DisposedITAT Mumbai12 November 2020AY 2007-082 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The Tribunal dismissed the appeals as withdrawn. However, it granted the assessee liberty to approach the Tribunal for restoration if the matter is not resolved under the Vivad se Vishwas scheme.

What were the facts?

The assessee filed a declaration under the Direct Tax Vivad se Vishwas Act, 2020, and was awaiting resolution. The assessee's counsel requested to withdraw the appeal, subject to revival rights.

What were the issues?

The primary issue was the assessee's intention to withdraw the appeal due to opting for the Vivad se Vishwas scheme, with a condition for potential revival.

Which sections of the Income-tax Act were involved?

Direct Tax Vivad se Vishwas Act, 2020

AI-generated summary — verify with the full judgment below

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

Heard together (2 matters)

ITA No. 2637/Mum/2012
ITA No. 7248/Mum/2014

Read from the judgment's own cause title. This page is filed under one of them.

ORDER Per Pramod Kumar, VP: 1. By way of these appeals, the Assessing Officer has challenged correctness of the order dated 28.03.2012 passed by the learned CIT(A)-8, Mumbai in the matter of assessment 263 of the Income Tax Act, 1961, for the assessment year 2007-08.

2.

When these appeals were called out for hearing, the ld. Counsel of the assessee submitted that he 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: 2007-08 Page 2 of 2 He submitted that upon completion of the necessary formalities, he will withdraw the appeal. In response to the suggestion from the Bench, he fairly accepted that he has no objection to the appeal being dismissed as withdrawn as long as his right for revival of the appeal are protected, in the event of, for some unforeseen reason, the matter being not settled under the Vivad se Vishwas scheme.

3.

The ld. DR also did not object to course so suggested.

4.

In view of the above, we dismiss the appeals as withdrawn, subject to be rider that in the unforeseen event of matter not being resolved under the Vivad se Vishwas scheme, the assessee shall have liberty to approach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, these appeals are dismissed as withdrawn – subject to the observation above. Pronounced in the open court today on the 12th November, 2020.

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