Chhaganlal Kasturchand & Company Limited … v. Assistant Commissioner Of Income Tax Circle 4(2) And Another …

Balaji G.Panchal Digitally signed byBalaji G. PanchalDate: 2021.01.0614:46:23 +0530 IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTIONINCOME TAX APPEAL NO.500 OF 2005 WITH INCOME TAX APPEAL NO.512 OF 2005 Chhaganlal Kasturchand & Company Limited…AppellantVs.Assistant Commissioner of Income Tax Circle 4(2)and another…Respondents Ms. Tasneem Zaveri i/b. Kanga & Co. for Appellant.Mr. Suresh Kumar for Respondents. CORAM : UJJAL BHUYAN &ABHAY AHUJA, JJ.DATE :JANUARY 05, 2021 P.C.: Heard Ms. Zaveri, learned counsel for the assessee / appellant andMr. Suresh Kumar, learned standing counsel Revenue for therespondents. 2.These appeals have been preferred under section 260-A of theIncome Tax Act, 1961 by the assessee assailing the legality and validityof the order dated 29.04.2005 passed by the Income Tax AppellateTribunal, Mumbai Bench ‘I’ in I.T.A. Nos.5165/Bom/92 and 1859/Bom/95 for the assessment years 1990-91 and 1991-92 respectively. 3.Appeals were admitted by this Court on 23.03.2009. 4.The appeals have now been listed on praecipe filed by theappellant. 5.Ms. Zaveri submits that Parliament has enacted the Direct TaxVivad se Vishwas Act, 2020 (briefly ‘the Act’ hereinafter) providing for a scheme for resolution of tax disputes. In terms of the said scheme,appellant has filed declarations before the Designated Authority.However, before passing of final orders under section 5(2) of the saidAct, appellant is required to withdraw the appeals in terms of section4(3). Hence, the prayer for withdrawal of the appeals. 6.Mr. Kumar, learned standing counsel Revenue has no objection tothe prayer made for withdrawal of the appeals. 7.Considering the above, we allow the appellant to withdraw theappeals. 8.Appeals are accordingly disposed of on withdrawal. 9.Refund as per Rules. 10.This order will be digitally signed by the Private Secretary of thisCourt. All concerned will act on production by fax or email of a digitallysigned copy of this order. (ABHAY AHUJA, J.) (UJJAL BHUYAN, J.) Minal Parab