M/S. Development Credit Bank Ltd., v. The Commissioner Of Incone Tax City - 2, Mumbai.

4.os.itxa.36.13.doc Ajay

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

O.O.C.J.

INCOME TAX APPEAL NO. 36 OF 2013 Development Credit Bank Ltd.

.. Appellant

Versus

Commissioner of Income Tax City - 2, Mumbai .. Respondent ...................

 Ms. Aasifa Khan h/f Mr. S.R. Mody for the Appellant.  Mr. Sham Walve h/f Mr. P.C. Chhotaray for the Respondent. ...................

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

DATE : MARCH 11, 2021.

P.C.:

Heard Ms. Aasifa Khan, learned counsel holding for Mr. S.R. Mody, learned counsel for the appellant and Mr. Sham Walve, learned counsel holding for Mr. P.C. Chhotaray 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 31.08.2012 passed by the Income Tax Appellate Tribunal, 'J' Bench, Mumbai in I.T.A. No.5134/Mum/2010 for the assessment year 2003-04.

3. The appeal was admitted by this Court on 02.04.2013 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.

4.os.itxa.36.13.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 on 08.01.2021 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 Accordingly, the appeal is disposed of as withdrawn.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: 2021.03.11 17:00:11 +0530