M/S Nath Holding And Investment Pvt Ltd v. Asstt Commissionr Of Income-Tax,Circle-5 (5) Mum

R.M. AMBERKAR (Private Secretary)

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

O.O.C.J.

INCOME TAX APPEAL NO. 552 OF 2005 M/s. Nath Holding & Investment Pvt Ltd ..

Appellant

Versus

Asst. Commissioner of Income Tax, Circle-5(5), Mumbai ..

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

 Mr. Jitendra Singh i/by Mr. Atul Jasani for the Appellant  Mr. Suresh Kumar for the Respondent ...................

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

DATE : FEBRUARY 1, 2021.

P.C.:

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

2.

This appeal under section 260A of the Income Tax Act, 1961 has been preferred by the assessee as the appellant against the order dated 13.06.2005 passed by the Income Tax Appellate Tribunal, 'D' Bench, Mumbai in I.T.A. No. 3545/ Mum/2000 for the assessment year 1996-97.

3.

The appeal was admitted by this Court on 07.10.2008 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 on 22.12.2020 which had thereafter issued a certificate under section 5(1) of the said Act on 15.01.2021 determining the tax payable by the appellant. 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 Accordingly, the appeal is disposed of as withdrawn.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.

[ MILIND N. JADHAV, J. ] [ UJJAL BHUYAN, J. ] Digitally signed by Ravindra M.

Amberkar Date:

2021.02.02 11:20:14 +0530 Ravindra M.

Amberkar