M/s Maventic Innovative Solutions Pvt Ltd - Dismissal of appeal by the CIT(A) on withdrawal by the assessee once the dispute is settled under the VSVs Act.

IN THE INCOME TAX APPELLATE TRIBUNAL
BANGALORE BENCHES “A”, BANGALORE

Before Shri Chandra Poojari, AM & Shri George George K, JM

ITA No.1212/Bang/2018 : Asst.Year 2014-2015
M/s.Maventic Innovative
Solutions Private Limited
No.503, 2nd Floor, 60 Feet Road
AECS Layout, Brookfields
Bengaluru – 560 037.
PAN : AAECM7803N.
(Appellant) 

vs.

The Dy.Commissioner of
Income-tax, Circle 4(1)(2)
Bangalore.
(Respondent)

ITA No.1090/Bang/2018 : Asst.Year 2014-2015
The Dy.Commissioner of Incometax,
Circle 4(1)(2)
Bangalore.
(Appellant) 

vs.

M/s.Maventic Innovative
Solutions Private Limited
No.503, 2nd Floor, 60 Feet
Road, AECS Layout,
Brookfields
Bengaluru – 560 037.
(Respondent)

Revenue by : Ms.Neera Malhotra, CIT-DR
Assessee by : Smt.Suman Lunkar, CA

Date of Hearing : 05.01.2021
Date of Pronouncement : 05.01.2021

O R D E R

Per George George K, JM

These cross appeals at the instance of the assessee andRevenue are directed against CIT(A)’s order dated 20.02.2018. The relevant assessment year is 2014-2015.

2. At the time of hearing before us, the learned Counsel forthe assessee has furnished a letter dated 22nd December, 2020,wherein it is stated that the assessee has opted for filing theapplication under Direct Tax Vivad Se Vishwas Act, forsettlement of the dispute, and accordingly, prayed that theappeal may be treated as withdrawn. Accordingly, we are of theview that no purpose would be served in keeping the appealspending, since the present appeal has to be withdrawn by theassessee or Revenue, once the dispute is settled under the above said Act.

3. Accordingly, we dismiss the appeal of the assessee and Revenue. However, liberty is given to the assessee / Revenue to seek recall of this order, if it warrants so.

4. In the result, the appeals filed by the assessee and Revenue are dismissed.

Order pronounced on this 05th day of January, 2021.

Sd/-                                                   Sd/-
(Chandra Poojari)                            (George George K)
ACCOUNTANT MEMBER               JUDICIAL MEMBER

Bangalore; Dated : 05th January, 2021.
Devadas G*

Copy to :
1. The Appellant.
2. The Respondent.
3. The CIT(A)-9, Bangalore
4. The Pr.CIT-9, Bangalore.
5. The DR, ITAT, Bengaluru.
6. Guard File.

Asst.Registrar/ITAT, Bangalore