ITO, WARD-4(4), KOLKATA vs. M/S KNA SHARE BROKERS PVT. LTD., KOLKATA

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ITA 76/KOL/2021Status: DisposedITAT Kolkata16 April 2021AY 2013-142 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 noted that the assessee had opted for the Direct Tax Vivad Se Vishwas Scheme and a Form 3 was issued by the Department. Therefore, the appeal was dismissed.

What were the facts?

The Revenue filed an appeal against the order of the CIT(A) for AY 2013-14. The assessee did not appear for the hearing.

What were the issues?

The primary issue was whether the appeal should be dismissed in light of the assessee opting for the Vivad Se Vishwas Scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH: KOLKATA

Pronounced: 16.04.2021

ORDER

Per Shri A.T.Varkey, JM

1.

This is an appeal preferred by the revenue against the order of Ld. CIT(A)- 2, Kolkata dated 01.05.2019 for AY 2013-14.

2.

None appeared on behalf of the assessee. However, an application dated 12.04.2021 on behalf of the assessee has been placed on record wherein the assessee has submitted that the assessee does not want to contest this revenue appeal and assessee had filed Form 1 and 2 under the Direct Tax Vivad Se Vishwas Act in respect of this appeal and the competent authority has issued form no. 3. Therefore, taking into consideration the fact that since the assessee has opted for the Scheme for the AY 2013-14 and Form 3 has been issued by the Department which is placed on file, we dismiss the impugned appeal of the revenue.

3.

In the result, the appeal of revenue is dismissed.

Order is pronounced in the open court.

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