K K MOORTHY HUF,MUMBAI vs. ACIT-29(2), MUMBAI

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ITA 3752/MUM/2019Status: DisposedITAT Mumbai22 December 2020AY 2010-113 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 allowed the withdrawal of the appeals as per the provisions of the Vivad Se Vishwas Act. Liberty was granted to the assessee to seek restoration if the declaration is not accepted.

What were the facts?

The assessee filed appeals against the assessment orders for AY 2010-11, 2011-12, and 2012-13. The assessee subsequently filed declarations under the Direct Tax Vivad Se Vishwas Act, 2020, and requested to withdraw the appeals.

What were the issues?

Whether the appeals should be withdrawn in light of the assessee opting for the Vivad Se Vishwas scheme.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “SMC” MUMBAI

Before: SHRI VIKAS AWASTHY & SHRI N.K. PRADHAN

For Respondent: Ms. Smita Verma, DR
Hearing: 22/12/2020

ORDER PER N.K. PRADHAN, A.M. The captioned appeals filed by the assessee are directed against the order of the Commissioner of Income Tax (Appeals)-40, Mumbai [in short ‘CIT(A)’] and arise out of the assessment completed u/s 143(3) r.w.s. 147 the Income Tax Act 1961, (the ‘Act’).

& Ors/MUM/2019 2 K.K. Moorthy 2. A letter dated 18.10.2020 is filed stating that the assessee has submitted Form-1 and Form-2 under “Direct Tax Vivad Se Vishwas Act, 2020” (in short ‘VSV Act’) on 27.10.2020 for the above assessment years and is waiting Form 3 from the Commissioner of Income Tax. Thus it is stated that the assessee may be allowed to withdraw these appeals.

The Ld. DR has no objection to the above.

3.

We have perused the relevant materials on record. The Government of India enacted the Direct Tax Vivad Se Vishwas Act, 2020 (Act No. 3 of 2020) to provide for resolution of disputed tax and for matter connected therewith or incidental thereto. The Act of the Parliament received the assent of the President on 17.03.2020 and published in the Gazette of India on 17.03.2020. In terms of the said Act, the assessee has been given an option to put an end to the tax disputes, which may be pending at different levels either before the First Appellate Authority or before the Tribunal or before the High Court or before the Supreme Court of India.

Considering the above and keeping in view the decision of the Hon’ble Madras High Court in the case of M/s Nannusamy Mohan (HUF) v. ACIT (TCA No. 372 of 2020, order dated 16.10.2020), we are inclined to dismiss these appeals as withdrawn. However, liberty is granted to the assessee to seek the restoration of these appeals in the event the declaration filed under the aforesaid Act is not accepted by the Department. It is further made clear, in such eventuality, if the assessee seeks restoration of these appeals by filing miscellaneous applications, the delay if any would be condoned without insisting upon filing any application for condonation of delay. & Ors/MUM/2019 3 K.K. Moorthy 4. In the result, the appeals are dismissed as withdrawn, subject to the observation above.

Order pronounced in the open Court on 22/12/2020.

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