The Development Bank Of Singapore Ltd. v. The Additional Director Of Income Tax (It) 1(2)

2.os itxa 2364-11.doc Amberkar

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

O.O.C.J.

INCOME TAX APPEAL NO. 2364 OF 2011 Development Bank of Singapore Limited (now known as DBS Bank Limited) .. Appellant

Versus

Additional Director of Income-tax (IT)-1(2), Mumbai .. Respondent ...................

 Mr. Phiroze Merchant i/by Kanga & Co. for the Appellant.  Mr. Arvind Pinto for the Respondent.

...................

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

DATE : MARCH 01, 2021.

P.C.:

Heard Mr. Merchant, learned counsel for the appellant and Mr. Pinto, learned counsel 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 20.04.2011 passed by the Income Tax Appellate Tribunal, 'L' Bench, Mumbai in I.T.A. No.2269/M/2005 for the assessment year 2001-02.

3. The appeal was admitted by this Court on 24.11.2014 on the substantial question of law framed in the said order.

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

2.os itxa 2364-11.doc

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 has thereafter issued a certificate under section 5(1) of the said Act determining the amount of 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 Accordingly, the appeal is disposed of as withdrawn.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. ] Ravindra M.

Amberkar by Ravindra M.

Amberkar Date: 2021.03.01 16:46:59 +0530