Kasturchand J. Sanghvi v. Deputy Commissioner Of Income Tax,Central Circle - 38, Mumbai

IN THE HIGH COURT OF JUDICATURE AT BOMBAYO.O.C.J. INCOME TAX APPEAL NO. 873 OF 2007 Kasturchand J. Sanghvi Versus Deputy Commissioner of Income Tax,Central Circle - 38, Mumbai. ................... Mr. Atul Jasani for the Appellant. Mr. Atul Jasani for the Appellant. Mr. Sham Walve for the Respondent.Mr. Sham Walve for the Respondent. ................... ..Appellant ..Respondent CORAM : UJJAL BHUYAN & MILIND N. JADHAV, JJ. DATE : FEBRUARY 18, 2021. P.C.: Heard Mr. Jasani, learned counsel for the appellant andMr. Walve, learned standing counsel revenue for therespondent. 2. This appeal under section 260A of the Income Tax Act,1961 has been preferred by the assessee as the appellantagainst the order dated 19.01.2007 passed by the IncomeTax Appellate Tribunal, 'K' Bench, Mumbai in I.T.A. No.5421/Mum/1999 for the assessment year 1986-87. 3.The appeal was admitted by this Court on 02.07.2008on the substantial questions 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 on 28.10.2020 before the Designated Authority whichhas thereafter issued a certificate under section 5(1) of thesaid Act on 20.01.2021 determining the amount of taxpayable by the appellant. However, for passing of the finalorder under section 5(2) of the said Act, appellant is requiredto 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 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 Accordingly, the appeal is disposed ofas withdrawn. 8.Refund as per Rules.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. ] Digitallysigned byRavindraRavindra M.M.AmberkarDate:Amberkar2021.02.1914:35:24+0530