GENERAL MAGNETS LTD.,KOLKATA vs. DCIT, CIR.-6, KOLKATA

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ITA 518/KOL/2020Status: DisposedITAT Kolkata05 January 2021AY 2004-052 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 noted that the assessee intended to withdraw the appeal due to opting for the Vivad Se Vishwas Scheme. The Revenue had no objection to the withdrawal.

What were the facts?

The assessee filed an appeal against the order of the CIT(A). During the pendency of the appeal, the assessee opted for the 'Vivad Se Vishwas Scheme 2020'. The assessee then filed an application to withdraw the appeal.

What were the issues?

Whether the appeal can be withdrawn by the assessee upon opting for the Vivad Se Vishwas Scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA BENCH “SMC” KOLKATA

Before: Shri SANJAY GARG

आदेश /O R D E R The present appeal has been preferred by the assessee against the order dated 25.08.2020 of the Commissioner of Income-tax (Appeals)-20, Kolkata [hereinafter referred to as ‘CIT(A)’].

2.

At the outset, Ld. counsel for the assessee has submitted that since the assessee has opted for “Viviad Se Vishwas Scheme 2020” and, therefore, he intends to withdraw the present appeal. A separate application dated 05.01.2021 for withdrawal General Magnets Ltd. Vs. DCIT, Cir-6,Kol. Page 2 of the appeal has been submitted by the Ld. Authorised counsel for the assessee. The Ld. DR has no objection for the said withdrawal. In view of the above, the appeal of the assessee is hereby dismissed as ‘Withdrawn’.

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