BAB DEVELOPERS PVT. LTD.,MUMBAI vs. ITO 2 (1)(1), MUMBAI

This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals)-4, Mumbai ( in short ‘the CIT(A)’) dated24/05/2019 for the assessment year 2014-15.

A request letter dated 04/12/2020 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:

Ms. Smita Verma, representing the Department stated that the Department has no objection if the assessee wants to withdraw the appeals to avail the benefit of ‘VSVS’.

In view of above request, the assessee is allowed to withdraw the appeal. Thus, the appeal of assessee is dismissed as withdrawn.

Liberty is granted to the assessee to restore the appeal in the event application filed by the assessee under VSVS fails to mature. It is further made clear that if the assessee /appellant seeks to restore the appeal in the event assessee’s declaration made under VSVS is not accepted, the Registry shall not insist for filing of application for condonation of delay, if the Miscellaneous Application for recalling the order is filed beyond time on account of delay in communication of outcome under VSVS. [ Re. M/s. Nannusamy Mohan(HUF) vs. ACIT in T.C.A No.372 of 2020 decided on 16/10/2020 by Hon’ble Madras High Court]

The appeal of assessee is dismissed as withdrawn with the liberty aforesaid.