DREAMVALLEY MERCHANTS PVT. LTD.,KOLKATA vs. ITO, WARD - 1(2), KOLKATA

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ITA 2490/KOL/2018Status: DisposedITAT Kolkata22 February 2021AY 2014-152 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 granted the assessee's request to withdraw the appeal. This was based on the assessee's compliance with the Vivad Se Vishwas Scheme and the issuance of a certificate by the Designated Authority.

What were the facts?

The assessee filed an appeal against the CIT(A)'s order. The assessee later sought to withdraw the appeal as they decided to settle the dispute under the Direct Tax Vivad Se Vishwas Act, 2020.

What were the issues?

Whether the assessee's appeal should be dismissed as withdrawn due to settlement under the Vivad Se Vishwas Act.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 5(1) of the Vivad Se Vishwas Act, 2020

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘C(SMC

Before: Shri P.M. Jagtap, Vice-

This appeal filed by the assessee is directed against the order of ld. Commissioner of Income Tax (Appeals)-1, Kolkata dated 10.07.2018.

2.

In this case, the Director of the assessee-company has moved an application dated 17.02.2021 seeking withdrawal of this appeal on the ground that he has 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 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.

Assessment Year: 2014-2015 Dreamvalley Merchants Pvt. Limited

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Scheme, 2020, the permission as sought by the assessee is granted and this appeal of the assessee is dismissed as withdrawn.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In the result, the appeal filed by the assessee is dismissed as withdrawn.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 February 22, 2021.

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