M/S SAI BABA FINVEST PRIVATE LIMITED,KOLKATA vs. I.T.O.,WARD-10(4), KOLKATA

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ITA 884/KOL/2019Status: DisposedITAT Kolkata23 April 2021AY 2014-152 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal granted the assessee's request to withdraw the appeal. This was based on the assessee's decision to settle the dispute under the Direct Tax Vivad Se Vishwas Act, 2020.

What were the facts?

The assessee company filed an appeal against an order passed under section 263 of the Income Tax Act. The Director of the assessee company sought to withdraw the appeal.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to settlement under the Vivad Se Vishwas Act.

Which sections of the Income-tax Act were involved?

Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA ‘C’ BENCH, KOLKATA

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

Per Shri P.M. Jagtap, Vice-President (KZ):- This appeal filed by the assessee is directed against the order ld. Principal Commissioner of Income Tax, Kolkata-4, Kolkata dated 12.02.2019 passed under section 263 of the Income Tax Act, 1961.

2.

In this case, the Director of the assessee-company has moved an application dated 20.03.2021 seeking withdrawal of this appeal on the ground that they have decided to settle the dispute involved in the said appeal under the Direct Tax Vivad Se Vishwas Act, 2020. The assessee has duly filed the declarations in Form No. 1 and Form No. 2 and the 1

1.

Sai Baba Finvest (P) Limited Designated Authority has issued the certificate in Form No. 3 as per Section 5(1) of the Scheme accepting the assessee’s declaration under the same Scheme.

3.

Keeping in view these facts and circumstances of the case including especially the fact that the assessee has duly complied with the necessary requirements under Vivad Se Vishwas Scheme, 2020, the permission as sought by the Director of the assessee-company is granted and this appeal of the assessee is dismissed as withdrawn.

4.

In the result, the appeal filed by the assessee is dismissed as withdrawn.

Order pronounced in the open Court on April 23, 2021.

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