SMTC STEEL AND POWER PVT. LTD.,KOLKATA vs. ITO, WARD - 5(1), KOLKATA, KOLKATA

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ITA 897/KOL/2018Status: DisposedITAT Kolkata23 April 2021AY 2012-132 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The Tribunal noted that if the assessee has received Form No. 3 under the scheme, the appeal is deemed withdrawn and dismissed. If the proposal was not accepted, the assessee can apply for recalling the order.

What were the facts?

The assessee appealed an order from the CIT(A) for AY 2012-13. The assessee opted for the 'Vivad Se Vishwas Act, 2020' scheme and filed necessary forms.

What were the issues?

The primary issue was the procedural consequence of the assessee opting for the Vivad Se Vishwas scheme on the pending appeal.

Which sections of the Income-tax Act were involved?

Vivad Se Vishwas Act, 2020

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH: KOLKATA

Before: Shri P. M. Jagtap, Vice-(KZ) & Shri A. T. Varkey, JM]

Pronounced: 23.04.2021

ORDER Per Shri A. T. Varkey, JM:

This is an appeal preferred by the Assessee is against the order of Ld. CIT(A)-7, Kolkata dated 28.03.2015 for Assessment year 2012-13.

2.

It has been intimated to us that the assessee has opted for the scheme under “Vivad Se Vishwas Act, 2020” (hereinafter “the Scheme”) and filed Form No. 1 and 2 before the competent authority and is awaiting/received Form No.

3. In case if the assessee has received Form No. 3, pursuant to the assessee opting for the scheme then the appeal of the assessee to be deemed to have been and the appeal of assessee would stand dismissed as withdrawn.

3.

And in case if the competent authority under the scheme has not accepted the proposal moved by the assessee for settlement under the scheme then, it is at liberty to move an application for recalling the order dismissing at as withdrawn.

SMTC Steel and Power Pvt. Ltd. A.Y. 2012-13 4. Needless to say, that this action of ours will not preclude the action of the competent authority to accept the proposal of the assessee by issuing Form No. 3 in accordance to law and as per the scheme.

5.

In the result, the appeal of the assessee is treated as dismissed in terms as stated supra.

Order is pronounced in the open court.

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