Itxa/2362/2011 Of The Development Bank Of Singapore Ltd v. Additional Director Of Income-Tax (It)-1(2

IN THE HIGH COURT OF JUDICATURE AT BOMBAYO.O.C.J. INCOME TAX APPEAL NO. 2362 OF 2011 Development Bank of Singapore Limited(Now known as DBS Bank Limited)..AppellantVersus Additional Director of Income-tax (IT)-1(2) ..Respondent ................... Ms. Tasneem Zaveri i/by Kanga & Company for the Appellant.Ms. Tasneem Zaveri i/by Kanga & Company for the Appellant. Mr. Sham Walve h/f. Mr. Arvind Pinto for the Respondent.Mr. Sham Walve h/f. Mr. Arvind Pinto for the Respondent. ................... CORAM : UJJAL BHUYAN & MILIND N. JADHAV, JJ. DATE : FEBRUARY 18, 2021. P.C.: Heard Ms. Zaveri, learned counsel for the appellant andMr. Walve, learned counsel holding for Mr.Pinto, learnedstanding counsel revenue for the respondent. 2. This appeal under section 260A of the Income Tax Act,1961 has been preferred by the assessee as the appellantagainst the order dated 20.04.2011 passed by the IncomeTax Appellate Tribunal, 'L' Bench, Mumbai in I.T.A. No.1787/M/2004 for the assessment year 1999-2000. 3.The appeal was admitted by this Court on 24.11.2014on the substantial question of law framed in the said order. 4.Today the appeal is before us on a praecipe filed bylearned counsel for the appellant. 5.It is submitted that Parliament has enacted the DirectTax 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 saidAct before the Designated Authority which has thereafterissued a certificate under section 5(1) of the said Actdetermining the amount of tax payable by the appellant.However, for passing of the final order under section 5(2) ofthe said Act, appellant is required to withdraw the appeal interms of section 4(3) thereof. Hence, the prayer forwithdrawal of the appeal. 6.Learned counsel for the respondent has no objection tothe prayer made for withdrawal of the appeal. 7.Considering the above, we allow the appellant towithdraw the appeal. Accordingly, the appeal is disposed ofas withdrawn. 8.Refund as per Rules. [ MILIND N. JADHAV, J. ] [ UJJAL BHUYAN, J. ] Digitally signedRavindraby Ravindra M.AmberkarM.Date:Amberkar2021.02.1914:38:06+0530