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Income Tax Appellate Tribunal - Mumbai

Lodha Developers Limited (Successor To ... vs Deputy Commissioner Of Income Tax ... on 6 January, 2021

                 IN THE INCOME TAX APPELLATE TRIBUNAL
                        MUMBAI BENCH "A" MUMBAI

            BEFORE SHRI C.N. PRASAD (JUDICIAL MEMBER) AND
              SHRI N.K. PRADHAN (ACCOUNTANT MEMBER)


                          ITA No. 5182/MUM/2018
                          Assessment Year: 2014-15

     Lodha Developers Ltd. (Successor           Deputy Commissioner of Income
     to Marutinandan Real Estate                Tax, Central Circle-7(3),
     Developers Pvt. Ltd.)               Vs.    Room No. 655, 6th floor, Aayakar
     412, floor-4, 17G Vardhaman                Bhavan, M.K. Road,
     Chamber, Cawasji Patel Road,               Mumbai-400020.
     Horniman Circle, Fort,
     Mumbai-400 001.
     PAN No. AAECM 9346 C
     Appellant                                  Respondent

                 Assessee by               : Mr. Avinash Gupta, AR
                 Revenue by                : Mr. Brajendra Kumar, DR

            Date of Hearing                : 05/01/2021
         Date of pronouncement             : 06/01/2021


                                        ORDER

PER N.K. PRADHAN, A.M.

This is an appeal filed by the assessee. The relevant assessment year is 2014-15. The appeal is directed against the order of the Commissioner of Income Tax (Appeals)-49, Mumbai [in short 'CIT(A)'] and arises out of the assessment completed u/s 143(3) the Income Tax Act 1961, (the 'Act').

2. The Ld. counsel for the appellant submits that the assessee has filed declaration under "Direct Tax Vivad Se Vishwas Act, 2020" (in short 'VSV Act') ITA No. 5182/M/2018 2 Lodha Developers Ltd.

by filing Form No. 1 & 2 and they are waiting for Form 3 from Pr. CIT (Central), Mumbai-4. Thus it is submitted that the assessee wants to avail the benefit of the above Act.

The Ld. DR has no objection to the above.

3. We have heard the rival submissions and perused the relevant materials on record. The Government of India enacted the Direct Tax Vivad Se Vishwas Act, 2020 (Act No. 3 of 2020) to provide for resolution of disputed tax and for matter connected therewith or incidental thereto. The Act of the Parliament received the assent of the President on 17.03.2020 and published in the Gazette of India on 17.03.2020. In terms of the said Act, the assessee has been given an option to put an end to the tax disputes, which may be pending at different levels either before the First Appellate Authority or before the Tribunal or before the High Court or before the Supreme Court of India.

Considering the submissions of the Ld. counsels appearing for the parties and keeping in view the decision of the Hon'ble Madras High Court in the case of M/s Nannusamy Mohan (HUF) v. ACIT (TCA No. 372 of 2020, order dated 16.10.2020), we are inclined to dismiss this appeal as withdrawn. However, liberty is granted to the assessee to seek the restoration of this appeal in the event the declaration filed under the aforesaid Act is considered void by the Department. It is further made clear, in such eventuality, if the assessee seeks restoration of this appeal by filing miscellaneous application, the delay if any would be condoned without insisting upon filing any application for condonation of delay.

Lodha Developers Ltd.

4. In the result, the appeal is dismissed as withdrawn, subject to the observation above.

Order pronounced in the open Court on 06/01/2021.

                      Sd/-                              Sd/-
                (C.N. PRASAD)                   (N.K. PRADHAN)
              JUDICIAL MEMBER                ACCOUNTANT MEMBER

Mumbai;
Dated:06/01/2021
Rahul Sharma, Sr. P.S.


Copy of the Order forwarded to :
1. The Appellant
2. The Respondent.
3. The CIT(A)-
4. CIT
5. DR, ITAT, Mumbai
6. Guard file.

                                                BY ORDER,
//True Copy//
                                                (Dy./Assistant Registrar)
                                                   ITAT, Mumbai