ADM TRADING INDIA PRIVATE LIMITED (FORMERLY KNOWN AS TOEPFER (INDIA) PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1), MUMBAI

We have heard the parties and perused the materials on record. Learned counsel for the assessee submitted, assessee has filed 2 ADM Trading India Pvt. Ltd. (Formerly known as Toepper (I) Pvt. Ltd.) declarations under the Vivad se Viswas Act, 2020 for settling the dispute arising in this appeal. Further, she submitted, assessee is awaiting for the Form no. 3 to be issued by the Income Tax Department. Considering the aforesaid submission of learned counsel for the assessee and keeping in view the decision of the Hon’ble Madras High Court in case of M/s. Nannusamy Mohan (HUF) v/s ACIT, TCA no.372 of 2020, order dated 16th October 2020, we are inclined dismiss the appeal as withdrawn. However, liberty is granted to the assessee to seek restoration of this appeal in the event the declaration filed under Vivad Se Vishwas Act, 2020 is not accepted by the Department. It is further made clear, in such eventuality if the assessee seeks restoration of the present appeal by filing misc. application, the delay, if any, should be condoned without insisting upon filing any application for condonation of delay.

In the result, appeal is dismissed with aforementioned liberty.