2020 (12) TMI 1226 - AT - Income Tax

Vivad se Vishwas Scheme 2020 - HELD THAT - Since the assessee has opted for Vivaad se Vishwas Scheme 2020 and has filed an application as envisaged by the Ld.AR. We are of the view that, no purpose will be served in keeping the appeal pending. Accordingly, we dismiss the appeal of the assessee as withdrawn and the assessee is given liberty to move an application u/s 254(2) of the Act to recall the present order in accordance with the provisions of law.

Summary

Issues:
1. Appeal against order of Commissioner of Income Tax (Appeals) -2, Mumbai under sections 143(3) and 250 of the Income Tax Act, 1961.
2. Opting for 'Vivad se Vishwas Scheme 2020' (VSVS2020) and filing an application in Form No. 1 & 2 under VSVS Rules 2020.
3. Dismissal of the appeal filed by the assessee.

Analysis:
1. The appeal was filed by the assessee against the order of the Commissioner of Income Tax (Appeals) -2, Mumbai, passed under sections 143(3) and 250 of the Income Tax Act, 1961. During the hearing, the assessee's Authorized Representative (AR) informed that the assessee intended to settle the tax litigation by opting for the 'Vivad se Vishwas Scheme 2020' (VSVS2020) and had filed an application in Form No. 1 & 2 under VSVS Rules 2020. The Departmental Representative (DR) had no objections to this submission.

2. After hearing both parties and examining the records, the Tribunal noted that the assessee had indeed opted for the 'Vivad se Vishwas Scheme 2020' and had filed the necessary application as per the AR's submission. Consequently, the Tribunal found that there was no purpose in continuing with the appeal. Therefore, the appeal filed by the assessee was dismissed as withdrawn. The assessee was granted liberty to move an application under section 254(2) of the Act to recall the present order as per the provisions of the law.

3. In conclusion, the Tribunal pronounced the order on 31.12.2020, dismissing the appeal filed by the assessee. This decision was based on the assessee's choice to opt for the 'Vivad se Vishwas Scheme 2020', leading to the withdrawal of the appeal. The Tribunal's ruling allowed the assessee the opportunity to seek a recall of the order under the provisions of the law, ensuring compliance with the legal framework.