M/S.PRISM CONSTRUCTION, MUMBAI DCIT CC-7(4), MUMBAI

This appeal by M/s Prism Construction against a penalty levied under section 271(1)(c) of the Income Tax Act for the assessment year 2013-14 has been dismissed as withdrawn. The assessee successfully filed a declaration under the Direct Tax Vivad Se Vishwas Scheme, 2020, and received acceptance from the designated authority. Following this, and in line with precedents, the Tribunal allowed the withdrawal of the appeal.

IN THE INCOME TAX APPELLATE TRIBUNAL
MUMBAI BENCH “C” MUMBAI

BEFORE SHRI C.N. PRASAD (JUDICIAL MEMBER) AND
SHRI N.K. PRADHAN (ACCOUNTANT MEMBER)

ITA No. 4433/MUM/2018
Assessment Year: 2013-14

M/s Prism Construction,
505/506, Shalimar Morya
Park, New Link Road,
Andheri (W),
Mumbai-400053
PAN No. AAHFP 8872 C
Appellant 

Vs.

The Deputy Commissioner of
Income Tax Office, Central
Circle-7(4), 6th floor, Aayakar
Bhavan, M.K. Road,
Churchgate,
Mumbai-400020.
Respondent

Assessee by : Mr. Kapil K. Jain, AR
Revenue by : Ms. Shreekala Pardeshi, DR

Date of Hearing : 11/02/2021
Date of Pronouncement : 11/02/2021

ORDER

PER N.K. PRADHAN, A.M.

This is an appeal filed by the assessee. The relevant assessment year is 2013-14. The appeal is directed against the order of the Commissioner ofIncome Tax (Appeals)-49, Mumbai [in short ‘CIT(A)’] and arises out of penalty levied u/s 271(1)(c) the Income Tax Act 1961, (the ‘Act’).

2. The Ld. counsel for the assessee submits that the appellant has filed declaration in Form No. 1 and Form No. 2 under the Direct Tax Vivad SeVishwas Scheme , 2020 and they have received Form No. 3 u/s 5(1) of theDirect Tax Vivad Se Vishwas Act, 2020 from the designated authority,accepting declaration. A copy of Form No. 3 is filed by the Ld. counsel. Thus it is stated that the present appeal be withdrawn. 

 We drew the attention of the Ld. Departmental Representative to the above submission.

3. We have heard the Ld. counsels and perused the relevant materials onrecord. The Government of India enacted the Direct Tax Vivad Se Vishwas Act, 2020 (Act No. 3 of 2020) to provide for resolution of disputed tax andfor matter connected therewith or incidental thereto. The Act of theParliament received the assent of the President on 17.03.2020 and was published in the Gazette of India on 17.03.2020. In terms of the said Act, theassessee has been given an option to put an end to the tax disputes, whichmay be pending at different levels either before the First Appellate Authority or before the Tribunal or before the High Court or before the Supreme Court of India.

Considering the statement of the Ld. counsel and keeping in view thedecision of the Hon’ble Madras High Court in the case of M/s NannusamyMohan (HUF) v. ACIT (TCA No. 372 of 2020, order dated 16.10.2020), we are inclined to dismiss this appeal filed by the assessee as withdrawn.

4. In the result, the appeal filed by the assessee is dismissed as withdrawn.

Order pronounced in the open Court on 11/02/2021.

 Sd/-                                                     Sd/-
(C.N. PRASAD)                                  (N.K. PRADHAN)
JUDICIAL MEMBER                          ACCOUNTANT MEMBER

Mumbai; Dated: 11/02/2021
Rahul Sharma, Sr. P.S. 

Copy of the Order forwarded to :
1. The Appellant
2. The Respondent.
3. The CIT(A)-
4. CIT
5. DR, ITAT, Mumbai
6. Guard file.

 BY ORDER,
//True Copy//
 (Dy./Assistant Registrar)
 ITAT, Mumbai