ACIT, CC- 3(2), KOLKATA, KOLKATA vs. RITUM JAIN , KOLKATA

At the time of hearing fixed in this case, a letter dated 17.10.2020 is filed by the ld. Authorized Representative of the assessee intimating that the assessee has decided to resolve a controversy involved in this appeal of the Revenue under the Direct Tax involved Vivad Se Vishwas Scheme, 2020. As stated in the said letter, the assessee has already filed the revised declaration in Form Nos. 1 and 2 but the certificate in Form no. 3 determining the tax payable by the assessee is not yet issued by the Competent Authority. Keeping in view this information given by the assessee, we treat this appeal of the Revenue as withdrawn and dismiss the same with the rider that if the Competent Authority as per the Scheme does not accept the assessee’s proposal to opt for the Vivad Se Viswas Scheme, 2020 or the assessee by whatever reason is unable to settle the dispute under the said Scheme of Vivad Se Vishwas, 2020, then the Revenue is at liberty to move an application before this Tribunal for recalling of this order and restoring its appeal. The assessee is also directed to inform the Competent Authority of the Income Tax Department as well as this Tribunal if he fails to settle the dispute under the Vivad Se Vishwas Scheme, 2020 for any reason. With the aforesaid caveat, we treat this appeal of the Revenue as withdrawn and dismiss the same.

As regards the Cross Objection of the assessee, the ld. Counsel for the assessee has submitted that the assessee is not interested to press the same. The Cross Objection of the assessee is accordingly dismissed as not pressed.

In the result, the appeal of the Revenue as well as the Cross Objection of the assessee both are dismissed. Order pronounced in the open Court on October 19, 2020.