RIVENDELL PH LLC,MUMBAI V. DEPUTY COMMISSIONER OF INCOME TAX, INT TAXATION 4(1)(1), MUMBAI

ITA 4257/MUM/2023

AI Insights

The case involved Rivendell PE LLC, the appellant, who filed an appeal against an order passed by the Assessing Officer under sections 143(3) and 144C of the Income Tax Act, 1961, for the Assessment Year 2015-16. The appeal was scheduled for a hearing on July 24, 2025. However, the appellant decided to withdraw the appeal as they opted to settle the dispute under the VSV Scheme. This decision was communicated through a petition to the tribunal, accompanied by the necessary documentation received from the designated authority under the VSV Scheme. The tribunal, after considering the request and the lack of objections from the DR, allowed the withdrawal of the appeal.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 712144 (ITAT-MUMBAI)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-07-2025
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Assessment Year: 2015-2016
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SATYAPAL KUMAR
• Assessee Lawyers: HINAL SHAH
• Section: 143(3)

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI “I” BENCH : MUMBAI BEFORE SHRI VIKRAM SINGH YADAV, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA No. 4257/Mum/2023 Assessment Year : 2015-16 Rivendell PE LLC, C/307, Jay Apartment, Santacruz (East), Mumbai Maharashtra-400055. PAN : AACCN4715G vs. Deputy Commissioner of Income Tax, International Taxation-4(1)(1), Mumbai (Appellant) (Respondent) For Assessee : Ms. Hinal Shah For Revenue : Shri Satya Pal Kumar, CIT-DR Date of Hearing : 24-07-2025 Date of Pronouncement : 24-07-2025 O R D E R PER VIKRAM SINGH YADAV, A.M : This is an appeal filed by the assessee against the order of the Assessing Officer (AO), passed u/s.144C(13) r.w.s.143(3) of the Income Tax Act, 1961 („the Act‟), consequent to the directions given by the CIT(DRP-2), Mumbai-1, pertaining to Assessment Year (AY) 2015-16. 2. During the course of hearing, the Ld.AR submitted that the assessee seeks permission to withdraw the subject appeal and has filed a petition in this regard and the contents thereof read as under: “We refer to the Income Tax Appeal (ITA) number 4257/MUM/2023 filed on 24 November 2023 for the AY 2015-16 scheduled for hearing on 24 July 2025 before the I Bench, Mumbai of Hon'ble Income Tax Appellate Tribunal (ITAT). The above appeal was filed before Hon'ble ITAT against Printed from counselvise.com 2 ITA No. 4257/Mum/2023 an order passed by the Learned Assessing Officer ('Ld. AO') on 26 September 2023 under section 143(3) read with section 144C of the Income Tax Act 1961 (the Act). In this connection we wish to submit that as the Appellant has opted to settle the captioned pending appeal under the Direct Tax Vivad Se Vishwas Act 2024 ('VSV scheme'/ 'D1VSV Act') by filing Form 1 on 30 April 2025. In response to the declaration filed in Form 1, the Appellant has received the certificate in Form 2 (enclosed as Annexure A) on May 30, 2025 from the designated authority determining the tax arrears and the amount refundable under the VSV scheme. In view of the foregoing, we request Your Honour to kindly dismiss the said appeal to enable us to file Form 3 with the designated authority intimating withdrawal of appeal. This will enable the tax department to issue Form 4. The Appellant further seek your liberty to revive the appeal if the declaration is considered void under the VSV Scheme. It is humbly submitted that the withdrawal of the captioned appeal should not be construed as an acceptance of the order passed by the Ld. AO. Inconvenience caused is sincerely regretted. We trust your Honours will accede to our request and oblige.” 3. The Ld. DR didn‟t raise any specific objection to such request for withdrawal of the subject appeal. 4. Having heard both the parties and taking into consideration the request so made by the Ld.AR on behalf of the assessee, we are inclined to allow this appeal of the assessee to be withdrawn and accordingly, dismiss this appeal as withdrawn. 5. In the result, the appeal of the assessee is dismissed as withdrawn. Order pronounced in the open Court on 24-07-2025 Sd/- Sd/- [SANDEEP SINGH KARHAIL] [VIKRAM SINGH YADAV] JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai, Dated: 24-07-2025 TNMM Printed from counselvise.com 3 ITA No. 4257/Mum/2023 Copy to : 1) The Appellant 2) The Respondent 3) The CIT concerned 4) The D.R, ITAT, Mumbai 5) Guard file By Order Dy./Asst. Registrar I.T.A.T, Mumbai Printed from counselvise.com "