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Income Tax Appellate Tribunal, MUMBAI BENCH “SMC” MUMBAI
Before: SHRI VIKAS AWASTHY & SHRI N.K. PRADHAN
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.
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Mohan (HUF) v. ACIT (TCA No. 372 of 2020, order dated 16.10.2020), we are inclined to dismiss these appeals as withdrawn.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 In the result, the appeals are dismissed as withdrawn, subject to the observation above.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.