BAYER MATERIALSCIENCE P.LTD,MUMBAI vs. ADDL CIT RG 10(3), MUMBAI

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ITA 6973/MUM/2012Status: DisposedITAT Mumbai27 November 2020AY 2008-092 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the appeal as withdrawn. This dismissal is subject to the condition that the assessee can seek restoration of the appeal if the matter is not resolved under the Vivad se Vishwas scheme.

What were the facts?

The assessee filed a declaration under the Direct Tax Vivad se Vishwas Act, 2020, and was awaiting resolution. The assessee requested the appeal be dismissed as withdrawn, with the right to revival if the Vivad se Vishwas scheme did not resolve the matter.

What were the issues?

The primary issue was the pendency of the assessee's case under the Vivad se Vishwas scheme and its impact on the ongoing appeal.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C

AI-generated summary — verify with the full judgment below

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

ORDER Per Pramod Kumar, VP: 1. By way of this appeal, the Assessing Officer has challenged correctness of the order dated 21.08.2012 passed by the learned CIT(A)-1, Mumbai in the matter of assessment u/s.143(3) r.w.s. 144C of the Income Tax Act, 1961, for the assessment year 2008-09.

2.

When this appeal was called out for hearing, the ld. Counsel of the assessee submitted that he has filed the necessary declaration under Direct Tax Vivad se Vishwas Act, 2020 (Act 3 of 2020) and is awaiting for final resolution of the matter under the said scheme. He submitted that upon completion of the necessary formalities, he will withdraw the appeal. In Page 2 of 2 response to the suggestion from the Bench, he fairly accepted that he has no objection to the appeal being dismissed as withdrawn as long as his right for revival of the appeal are protected, in the event of, for some unforeseen reason, the matter being not settled under the Vivad se Vishwas scheme.

3.

The ld. DR also did not object to course so suggested.

4.

In view of the above, we dismiss the appeal as withdrawn, subject to be rider that in the unforeseen event of matter not being resolved under the Vivad se Vishwas scheme, the assessee shall have liberty to approach the Tribunal for restoration of his appeal.

5.

In the result, the appeal is dismissed as withdrawn – subject to the observation above. Pronounced in the open court today on the 27th November, 2020.

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