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Income Tax Appellate Tribunal, “C” BENCH, MUMBAI
Before: SHRI VIKAS AWASTHY & SHRI N.K. PRADHAN
O R D E R श्री विकास अिस्थी, न्याययक सदस्य के द्िारा PER VIKAS AWASTHY, JM: This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals)-10, Mumbai (in short ‘the CIT(A)’) dated 25.03.2014 for the Assessment Year 2001-02.
A request letter dated 21/12/2020 has been received from the assessee stating that the assessee company has opted for ‘Viwad Se Vishwas Scheme, 2020’ (in short ‘VSVS’) and hence, does not want to litigate further. The Relevant extract of the aforesaid letter is reproduced herein below: Companhia De Navegacao Norsul, AY: 01-02 “Respected Sirs, The captioned appeal has been fixed for hearing before the Mumbai Bench ‘C; on 22 December 2020 at Sr. No.05. In this connection we would like to point out that the above- mentioned appeal is in connection with the levy of penalty under section 271(1)(c) of the Income-tax Act, 1961. Further, the quantum appeal bearing for the very same assessment year, has been pronounced to be dismissed as withdrawn in open Court by the Mumbai Bench ‘I’ on 14 December 2020 with a liberty to revive at a later stage since, the Appellant has filed an application under section 2 of the Direct Tax Vivad Se Vishwas Act, 2020 with the Designated Authority for resolution of the quantum appeal and is awaiting the approval in ‘Form-3’ from the concerned Commissioner of Income-tax – an Order dismissing the quantum appeal is, as yet, awaited.
Under the circumstances we have to request your Honours to adjourn the hearing of the captioned appeal for the time being and oblige.
We trust our reasonable request will be acceded to and regret the inconvenience caused.