Indium (Mauritius) Ltd petition for withdrawal of the appeal under VSV Scheme has been allowed by ITAT.

Last updated: 08 January 2021
Quick Summary
The Income Tax Appellate Tribunal (ITAT) has allowed Indium (Mauritius) Limited's petition to withdraw their appeal. The company had applied for withdrawal as the matter was settled under the Vivad Se Vishwas Scheme 2020. The Departmental Representative did not oppose this request. Consequently, the ITAT dismissed the appeal as withdrawn.

Court :
ITAT Mumbai

Brief :
The assessee has moved petition seeking withdrawal of the appeal on the ground that the matter is settled under Vivad Se Vishwas Scheme 2020.

Citation :
ITA No. 7032/Mum/2018

INCOME TAX APPELLATE TRIBUNAL
MUMBAI ‘I’ BENCH, MUMBAI

[Coram: Pramod Kumar (Vice President)]
and Saktijit Dey (Judicial Member)]

ITA No. 7032/Mum/2018
Assessment Year: 2015-16

Indium (Mauritius) Limited …………………….. Appellant
C/o Price Water House Coopers Pvt. Ltd.,
PWC House, Plot 18/A, Guru Nanak Road,
Bandra (W) Mumbai 400050
[PAN: AABCI5770R]

Vs.

Assistant Commissioner of Income Tax
(IT) 2(2)(1), Mumbai. ………………….Respondent

Appearances:
Jeet Kamdar for the appellant
Vijay Kumar Subramanyam for the respondent
Date of concluding the hearing: : January 5, 2021
Date of pronouncement : January 5, 2021

O R D E R

Per Pramod Kumar, VP:

1. The assessee has moved petition seeking withdrawal of the appeal on the ground that the matter is settled under Vivad Se Vishwas Scheme 2020.

2. Learned Departmental Representative does not oppose the prayer so made by the assessee.

3. There is no dispute that once the matter is resolved under Vivad Se Vishwas Scheme 2020, the related appeal is required to be withdrawn.

4. In view of the above position, as also bearing in mind entirety of the case, we deem it fit and proper to dismiss the appeal as withdrawn.

5. In the result, the appeal is dismissed as withdrawn. Pronounced in the open court today on the 05th day of January 2021.

Sd/-                                         Sd/-
Saktijit Dey                            Pramod Kumar
(Judicial Member)                (Vice President)

Mumbai, dated the 05th day of January 2021.
Copies to: 
(1) The Applicant 
(2) The respondent
(3) CIT 
(4) CIT(A)
(5) DR 
(6) Guard File

By order
True Copy

Assistant Registrar
Income Tax Appellate Tribunal
Mumbai benches, Mumbai


 

FAQ :

The Income Tax Appellate Tribunal (ITAT) allowed Indium (Mauritius) Ltd's petition to withdraw their appeal.

Indium (Mauritius) Ltd sought to withdraw their appeal because the matter had been settled under the Vivad Se Vishwas Scheme 2020.

No, the Learned Departmental Representative did not oppose the prayer made by the assessee for withdrawal.

The Vivad Se Vishwas Scheme 2020 is a scheme under which tax disputes can be settled.

The ITAT dismissed the appeal as withdrawn.

 

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