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

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ITA 4413/MUM/2017Status: DisposedITAT Mumbai08 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The Tribunal decided to dismiss the appeal as withdrawn, granting liberty to the assessee to seek restoration if the Vivad se Viswas declaration is not accepted. Any delay in seeking restoration would be condoned.

What were the facts?

The assessee filed an appeal before the ITAT. The assessee subsequently filed declarations under the Vivad se Viswas Act, 2020, for settling the dispute. The assessee was awaiting a form from the Income Tax Department.

What were the issues?

The primary issue was the pendency of the appeal before the ITAT in light of the assessee's decision to settle the dispute under the Vivad se Viswas Act.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “J” BENCH, MUMBAI

Before: SHRI SAKTIJIT DEY & SHRI N.K. PRADHAN

For Appellant: Shri Shruti Kulkarni
For Respondent: Shri Sunil Umap

The aforesaid appeal has been filed by the assessee challenging the order dated 15th March 2017, passed by the learned Commissioner of Income Tax (Appeals)–58, Mumbai, pertaining to the assessment years 2010–11.

2.

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Mohan (HUF) v/s ACIT, TCA no.372 of 2020, order dated 16th October 2020, we are inclined dismiss the appeal as withdrawn.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.

3.

In the result, appeal is dismissed with aforementioned liberty.

Order pronounced on 08.12.2020.

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