Considering the application of the Mangla Capital Services P.Ltd under Vivad Se Vishwas Scheme,2020, ITAT dismisses the appeals as withdrawn.

The Income Tax Appellate Tribunal (ITAT) in Mumbai has dismissed the appeals filed by Mangla Capital Services Pvt. Ltd. for the assessment year 2003-04. This decision was made because the assessee has opted for the Direct Tax Vivad Se Vishwas Scheme, 2020. The appeal was dismissed as withdrawn, with the liberty granted to the assessee to seek restoration if their declaration under the scheme is not accepted.

IN THE INCOME TAX APPELLATE TRIBUNAL
“B” BENCH, MUMBAI

BEFORE HON’BLE SHRI MAHAVIR SINGH, VP AND
HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM
(Hearing through Video Conferencing Mode)

I.T.A. No.1696/Mum/2011
Assessment Year: 2003-04)

Mangla Capital Services Pvt.Ltd.
162-C, MittalTowers
Nariman Point, Mumbai – 400 021
PAN/GIR No. AAACM-6025-C
Appellant)

Vs.

ITO-3(2)(1)
Mumbai
Respondent)

Assessee by : Sh. Rahul Hakani-Ld. AR
Revenue by : Shri Tharian Oommen- Ld. Sr.DR

Date of Hearing : 13/01/2021
Date of Pronouncement : 13/01/2021

 O R D E R

Manoj Kumar Aggarwal (Accountant Member)

1. Aforesaid appeal by assessee for Assessment Year 2003-04 contests the order of learned first appellate authority passed on 31/12/2010 on certain grounds of appeal. The assessment was framed by Ld. Assessing Officer u/s 143(3) 13/03/2006.

2. The Ld. Counsel for assessee, at the outset, submitted that the assessee has already opted for Direct Tax Vivad Se Vishwas Scheme (VVS Scheme), 2020 and filed requisite declarations therein. The Ld. AR also submitted that the appeal may be dismissed as withdrawn but with a liberty to assessee to seekrestoration in case the aforesaid declaration is not accepted. TheLd. DR did not object to the same.

3. In view of foregoing, the appeal stands dismissed as withdrawn with a liberty to assessee to seek restoration of thisappeal in case the aforesaid declaration filed under the scheme is not accepted, for whatever reasons.

4. The appeal stands dismissed as withdrawn.

Order pronounced on 13th January, 2021.

 Sd/-                                           Sd/-
 (Mahavir Singh)                       (Manoj Kumar Aggarwal)
Vice President                          Accountant Member
Mumbai Dated : 13/01/2021

Sr.PS, Jaisy Varghese
Copy of the Order forwarded to :
1.The Appellant
2.The Respondent
3.he CIT(A)
4.CIT– concerned
5.DR, ITAT, Mumbai
6.Guard File

 BY ORDER,
(Dy./Asstt.Registrar)
ITAT, Mumbai.