SURAJMAL MEHTA,MUMBAI vs. ITO - 19(3)(4), MUMBAI

The assessee has filed these appeals assessee against the two orders dated 30.04.2019 passed by the Ld. Commissioner of Income Tax (for short ‘the CIT (A)-5, Mumbai, which pertain to the assessment years 2010-11 and 2011- 12, whereby the Ld. CIT (A) has dismissed the appeals filed by the assessee against the assessment orders passed u/s 143 (3) r.w.s 147 of the Income Tax Act, 1961 (for short the ‘Act’).

The assessee has challenged the impugned orders passed by the Ld. CIT (A) inter alia on the ground that the Ld. CIT (A) has erred in upholding the addition of 12.5% of the total amount of bogus purchases made by the AO. Assessment Years: 2010-11 & 2011-12 3. These appeals were fixed for hearing on 19.10.2020. None appeared on behalf of the assessee. We notice that the assessee has submitted applications for withdrawal of these appeals stating that the assessee has opted to settle the dispute under Vivad se Vishwas Act, 2020 and the assessee has already applied for the same. 4. The Ld. Departmental Representative did not oppose the applications filed by the assessee. 5. We have perused the material on record. The assessee has enclosed declarations in prescribed Form and undertakings under sub-section (5) of section 4 of the Direct Tax Vivad se Vishwas Act 2020 along with the applications for withdrawal of appeals. Since the assessee wants to settle its dispute under Vivad se Vishwas Act 2020, we allow the applications for withdrawal of the appeals and dismiss the said appeals as withdrawn. In the result, appeals filed by the assessee for assessment years 2010-11 and 2011-12 are dismissed as withdrawn.