M/S KSL & INDUSTRIES LTD , MUMBAI V. DCIT CC 5(3) , MUMBAI

ITA 1089/MUM/2020

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 0674 (ITAT-MUMBAI)
• Duration Of Justice: 10 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-12-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: H
• Assessment Year: 2016-2017
• Appeal Filed On: 12-02-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: VIDE ASSESSEES LETTER DATED. ..
• Keywords: Competent authority

Judgement Text

H IN THE INCOME TAX APPELLATE TRIBUNAL H BENCH, MUMBAI , . , BEFORE S H RI MAHAVIR SINGH, VP AND S H RI M. BALAGANESH, AM ./ ITA NO. 1089 / MUM/ 2020 ( / ASSESSMENT YEAR 2016 - 17 ) KSL AND INDUSTRIES LTD. 11/12, RAGHUVANSHI MILL COMPOUND, SENAPATI BAPAT MARG, LOWER PAREL (W), MUMBAI / VS. THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 5(3), R.NO. 1906, 19 TH FLOOR, AIR INDIA BUILDING, NARIMAN POINT, MUMBAI - 400 021 ( / APPELLANT) ( / RESPONDENT) . / PAN NO. AAACK 4722 E / APPELLANT BY : VIDE ASSESSEES LETTER DATED. 30.10.2020 / RESPONDENT BY : SHRI T. S . KHALSA , DR / DATE OF HEARING : 18 .1 2 . 2020 / DATE OF PRONOUNCEMENT : 18.12.2020 / O R D E R , / PER MAHAVIR SINGH, VP : THIS APPEAL OF ASSESSEE IS ARISING OUT OF THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)] - 53 , MUMBAI [IN SHORT CIT(A)], DATED 25.11.2019 . 2. THE ASSESSEE HAS MOVED PETITION SEEKING WITHDRAW AL OF THE APPEAL ON THE GROUND THAT THE MATTER IS SETTLED UNDER VIVAD SE VISHWAS SCHEME 2020. PAGE | 2 ITA NO. 1089/MUM/2020 KSL AND INDUSTRIES LTD.; AY 16 - 17 3. THE LEARNED DEPARTMENTAL REPRESENTATIVE DOES NOT OPPOSE THE PRAYER SO MADE BY THE ASSESSEE. 4. WE HAVE HEARD THE LEARNED DEPARTMENTAL REPRESENTATIVE SHRI. T.S. KHALS A AND ALSO PERUSED THE LETTER OF THE ASSESSEE DATED 30.10.2020 . IN THE LETTER, THE ASSESSEE HAS OPTED TO SETTLE THE DISPUTE UNDER THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020. 5. WE FIND THAT THE ASSESSEE HAS ENCLOSED THE COPY OF APPLICATION OF FORM NO. 3 UNDER SECTION 5(1) OF THE DIRECT TAX VIVAD SE VISWAS SCHEME - 2020 FILED BEFORE THE COMPETENT AUTHORITY. WE NOTED THAT ONCE THE ASSESSEE HAS OPTED FOR VIVAD SE VISWAS SCHEME - 2020 AND FILE D FORM - 3 UNDER THE VIVAD SE VISWAS SCHEME - 2020 WITH THE COMPETENT AUTH ORITY AND THE COMPETENT AUTHORITY HAS ISSUED FORM NO.3 , IT IS NOT NECESSARY FOR THE TRIBUNAL TO DECIDE THE ABOVE RAISED ISSUE AS THE GOVT. OF INDIA HAS ENACTED THE DIRECT TAX VIVAD SE VISWAS SCHEME ACT 2020 TO PROVIDE FOR RESOLUTION OF DISPUTE MECHANISM IN REGARD TO DIRECT TAX DISPUTES AND FOR MATTERS CONNECTED THEREWITH OR INCIDENTAL THERETO. IN TERM S OF THE SAID ACT, THE ASSESSEE HAS BEEN GIVEN AN OPTION TO PUT AN END TO THE TAX DISPUTES WHICH MAY BE PENDING AT DIFFERENT LEVELS INCLUDING THE INCOME TAX AP PELLATE TRIBUNAL. UNDER SECTION 25 OF THE DIRECT TAX VIVAD SE VISWAS SCHEME - 2020 DISPUTED TAX HAS BEEN DEFINED AND ALSO IN T ERM S OF SECTION 3, A DECLARANT MEANS A PERSON WHO HAS FILED A DECLARATION ON OR BEFORE THE LAST DATE WITH DECLARATION BEFORE DESIG NATED OR COMPETENT AUTHORITY IN ACCORDANCE WITH THE PROVISION S OF SECTION 4 IN RESPECT OF TAX ARREARS. THEN, NOTWITHSTANDING ANY THING CONTAINED IN THE INCOME TAX ACT, 1961 OR ANY OTHER LAW FOR THE TIME BEING IN FORCE , T HE AMOUNT PAYABLE BY PAGE | 3 ITA NO. 1089/MUM/2020 KSL AND INDUSTRIES LTD.; AY 16 - 17 THE DECLARANT SH ALL BE DETERMINED IN TERMS OF SECTION 3 OF DIRECT TAX VIVAD SE VISWAS SCHEME ACT 2020 . 6. IN VIEW OF THE FACT S THAT THE ASSESSEE HAS SUBMITTED FORM NO. 3 ISSUED BY THE COMPETENT AUTHORITY UNDER DIRECT TAX VIVAD SE VISWAS SCHEME - 2020 , WE DISMISS THIS APPEAL OF ASSESSEE AS WITHDRAWN . 7. IN THE R ESULT, THE APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN . ORDER PRONOUNCED IN THE OPEN COURT ON 18.12 .2020 . SD/ - SD/ - ( . / M. BALAGANESH ) ( /MAHAVIR SINGH) ( / ACCOUNTANT MEMBER) ( / VICE PRESIDENT) , / MUMBAI, DATED: 18.12 .2020 , . / SUDIP SARKAR, SR.PS / COPY OF THE ORDER FOR WARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE. / BY ORDER, //TRUE COPY// / (ASSTT. REGISTRAR) , / ITAT, MUMBAI