LODHA DEVELOPERS LIMITED (SUCCESSOR TO LODHA IDEAL BUIDCON PRIVATE LIMITED SINCE MERGED WITH SURYAKRUPA CONSTRUCTION PRIVATE LIMITED,MUMBAI vs. DCIT CC-7(3), MUMBAI

By way of this appeal, the assessee contests the order of Ld. first appellate authority on certain grounds of appeal.

The Ld. AR placed on record a letter dated 30/11/2020 wherein it has been stated that the assessee is in the process of analyzing the alternative to opt for Vivad Se Vishwas Scheme (VVS Scheme).

Keeping in view the aforesaid submissions and in terms of decision of Hon’ble Madras High Court in M/s Nannusamy Mohan (HUF) V/s ACIT (TCA NO. 372 of 2020) dated 16/10/2020, the bench deem it fit to dismiss the appeal. Accordingly, going by the said decision, since the assessee is opting for VVS Scheme, the appeal stand dismissed. However, the assessee is given liberty to seek restoration of this appeal in the event the ultimate decision to be taken on the declaration filed by the assessee u/s 4 of The Direct Tax Vivad Se Vishwas Act, 2020 is not in favor of the assessee. If such prayer is made, the registry shall entertain the prayer forthwith without insisting upon any application to be filed for condonation of delay in restoration of the appeal and on such request being made by the assessee by filing a miscellaneous application for restoration, the registry shall place such petition before the bench for orders.

In view of the foregoing, the appeal stands dismissed. Order pronounced on 01st December, 2020. (Saktijit Dey) (Manoj Kumar Aggarwal) "ाियक सद" / Judicial Member लेखा सद" / Accountant Member