Shree Satyanarayan Investmen T Company Ltd v. The Asst. Commissioner Of Income Tax 1 (3)

S.S.Kilaje

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 480 OF 2009 Shree Satyanarayan Investment Company Ltd ..

Appellant

Versus

The Asst. Commissioner of Income Tax - 1(3), Mumbai ..

Respondent ...................

 Mr. Jitendra Singh i/by Rahul Hakani for the Appellant  Mr. Sham Walve for the Respondent ...................

CORAM : UJJAL BHUYAN & MILIND N. JADHAV, JJ.

DATE : JANUARY 12, 2021.

P.C.:

1.

Heard Mr. Jitendra Singh, learned counsel for the appellant and Mr. Walve, learned standing counsel Revenue for the respondent.

2.

This appeal under section 260-A of the Income Tax Act, 1961 has been preferred by the assessee as the appellant against the order dated 22.10.2008 passed by the Income Tax Appellate Tribunal, 'K' Bench, Mumbai in I.T.A. No. 5524/ Mum/2007for the assessment year 2003-04.

3.

The appeal was admitted by this Court on 02.04.2009 on the substantial questions of law framed in the said order. 4.

Today the appeal is before us on a praecipe filed by learned counsel for the appellant.

5.

It is submitted that Parliament has enacted the Direct Tax Vivad se Vishwas Act, 2020 (briefly 'the Act' hereinafter) providing for a scheme for resolution of tax disputes. Appellant has filed a declaration under section 3 of the said Act before the Designated Authority which had thereafter issued a certificate under section 5(1) of the said Act on 04.01.2021 determining the tax dues payable by the assessee. However, for passing of the final order under section 5(2) of the said Act, appellant is required to withdraw the appeal in terms of section 4(3) thereof. Hence, the prayer for withdrawal of the appeal.

6.

Learned counsel for the respondent has no objection to the prayer made for withdrawal of the appeal.

7.

Considering the above, we allow the appellant to withdraw the appeal. Accordingly, the appeal is disposed of as withdrawn.

8.

Refund as per Rules.

9.

This order will be digitally signed by the Private Secretary of this Court. All concerned will act on production [ MILIND N. JADHAV, J. ] [ UJJAL BHUYAN, J. ] by Ravindra M.

Amberkar Date:

2021.01.12 16:31:29 +0530 Ravindra M.

Amberkar