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

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ITA 4252/MUM/2019Status: DisposedITAT Mumbai10 December 20203 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 assessee to withdraw the appeal as per their request to avail the benefits of the 'Viwad Se Vishwas Scheme'. Liberty was granted to restore the appeal if the scheme application fails.

What were the facts?

The assessee company opted for the 'Viwad Se Vishwas Scheme, 2020' and requested to withdraw its appeal. The Revenue had no objection to this request.

What were the issues?

Whether the assessee can withdraw its appeal to avail the benefit of the 'Viwad Se Vishwas Scheme'.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “SMC”, MUMBAI

Before: SHRI VIKAS AWASTHY

For Respondent: Ms. Smita Verma

आदेश/ ORDER

1.

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.

2.

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:

“Respected Madam/Sir,

Re Tribunal Appeal No.ITA 4252/Mum/2019 Hearing Bench SMC PAN No.AACCB1833F ASSESSMENT YEAR 2014-15 The undersigned Director wishes to state that the Company has gone for ‘Viwad Se Vishwas Scheme Bill 2020 and has already received Form-3 from PCIT, Mumbai -2. We are attaching herewith the same for your reference. Hence we wish to state that we do not want to litigate the matter further. Thanking you, Yours faithfully Sd/- B.Z.Bhathena Director.”

3.

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’.

4.

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 Thus, the appeal of assessee is dismissed as withdrawn.

5.

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]

6.

The appeal of assessee is dismissed as withdrawn with the liberty aforesaid.

Order pronounced in the open Court on Thursday, the 10th day of December, 2020.

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