Varsha Plastics P.Ltd. v. Assistant Commissioner Of Income Tax

(10)-ITXA-212-02.doc.

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

Balaji G.

Panchal ORDINARY ORIGINAL CIVIL JURISDICTION Balaji G. Panchal Date: 2021.02.05 10:32:35 +0530 INCOME TAX APPEAL NO.212 OF 2002 Varsha Plastics Pvt. Ltd.

(Now known as Varsha Corporation Ltd.) ..Appellant

Versus

ACIT Circle 3(6) (Present Jurisdiction with ITO Ward 9(3)(3) ..Respondent Mr. Neha Paranjape i/by K. Gopal, Advocate for the Appellant. Mr. Sham Walve, Advocate for the Respondent.

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

DATE : 4th FEBRUARY, 2021 P.C.

1.

Heard Ms. Neha Paranjape, learned counsel for the appellant and Mr. Sham Walve, learned counsel for the respondents. 2.

This appeal has been preferred by the assessee as the appellant under section 260A of the Income Tax Act, 1961 against the order dated 31.07.2001 passed by the Income Tax Appellate Tribunal, "B" Bench, Mumbai in ITA No.480/Mum/2001 for the assessment year 1987-88. 3.

The appeal was admitted by this Court by order dated 15.04.2008 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.

BGP.

(10)-ITXA-212-02.doc.

5.

It is stated that Parliament has enacted the Direct Tax Vivad se Vishwas Act, 2020 providing for a scheme for resolution of tax disputes. In terms thereof, appellant has filed declaration under section 3 before the designated authority. Designated authority issued certificate under section 5(1) determining the amount refundable. For passing of the final order under section 5(2), appellant is required to withdraw the appeal under section 4(3) and to furnish proof of withdrawal along with intimation of payment, if any, to the designated authority. Hence, prayer for withdrawal of the appeal.

6.

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

7.

Having regard to the above, we allow withdrawal of the appeal. 8.

Appeal is accordingly disposed of as withdrawn. 9.

Refund as per rules.

MILIND N. JADHAV, J UJJAL BHUYAN, J BGP.