AMIT BAFNA HUF,KOLKATA vs. PR.CIT-10, KOLKATA

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ITA 82/KOL/2020Status: DisposedITAT Kolkata26 November 2020AY 2014-152 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal condoned the delay in filing the appeal. Considering the assessee's decision to opt for the Vivad Se Vishwas Scheme, the Tribunal allowed the assessee to withdraw the appeal.

What were the facts?

The assessee filed an appeal against a revisional order. The appeal was filed beyond the prescribed time limit, and a condonation application was filed. The assessee subsequently opted for the Direct Tax Vivad Se Vishwas Scheme, 2020.

What were the issues?

Whether the appeal should be dismissed due to delay, and the impact of opting for the Vivad Se Vishwas Scheme on the pending appeal.

Which sections of the Income-tax Act were involved?

Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH: KOLKATA

Before: Hon’ble Shri J.Sudhakar Reddy, AM & Hon’ble Shri A. T. Varkey, JM

Pronounced: 26.11.2020

ORDER Shri A. T. Varkey, JM This is an appeal preferred by the assessee against the revisional order of Ld. Pr. CIT-10, Kolkata dated 01-03-2019 for the assessment year 2014-15 passed u/s. 263 of the Income-tax Act, 1961 (hereinafter referred to as the “Act”).

2.

This appeal of assessee is time barred by 256 days and a condonation application has been filed. After perusing the said application, we condone the delay and admit the appeal for hearing.

3. At the outset, the Ld. Counsel for the assessee Shri Subash Agarwal, Advocate brought to our notice that the assessee has opted for the Direct Tax Vivad Se Vishwas Scheme 2020 (hereinafter, the ‘scheme’) and accordingly has filed Form 1 and 2 before the competent authority as per the scheme in respect of this appeal and is awaiting the issue of Form No. 3 from the competent authority. Taking into consideration the fact that since the assessee is opting for the ‘Vivad Se Vishwas Scheme, 2020’ for the assessment year 2014-15, there is no point in keeping the impugned appeal pending.

3.

In the light of the aforesaid discussion, we treat this submission of the Ld. AR of Amit Bafna, HUF, A.Y 2014-15 the assessee informing the Tribunal the fact that assessee is opting for the said scheme, therefore, we allow the assessee to withdraw the impugned appeal. In case, if the competent authority as per the scheme does not accept the assessee’s proposal to opt for the Vivad Se Vishwas Scheme, 2020, then the assessee is at liberty to move an application for recalling this order. With the aforesaid caveat, we allow the assessee to withdraw the captioned appeal.

4.

Needless to say that our aforesaid action allowing the assessee to withdraw the appeal, will not come in the way of the competent authority of Revenue to accept the assessee’s said option/scheme for availing “Vivad Se Vishwas Scheme, 2020’.

5.

In the result, the appeal of assessee is dismissed as withdrawn.

Order is pronounced in the open court on 26th November, 2020. Sd/- Sd/- ( J. Sudhakar Reddy) (Aby. T. Varkey) Accountant Member Judicial Member Dated : 26th November, 2020 **JD(Sr.P.S.) Copy of the order forwarded to:

1. 1. Appellant: Shri Amit Bafna, HUF, C/o Subash Agarwal & Associates, Advocates, Siddha Gibson, 1, Gibson Lane, Suite 213, 2nd floor, Kolkata- 700 069. 2 Respondent– Pr. CIT-10, Kolkata.

3. ITO, Ward-29(2), Kolkata 4. DR, ITAT, Kolkata. (sent through e-mail)

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