M/S. Storewell Credits And Capital Pvt. Ltd v. Commissioner Of Income Tax-5, Mumbai

Balaji G.Panchal Digitally signed byBalaji G. PanchalDate: 2021.02.0510:32:34 +0530 (8)-ITXA-1348-16.doc. IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.1348 OF 2016 M/s. Storewell Credits and Capital Pvt. Ltd. ..Appellant Versus Commissioner of Income Tax-5, Mumbai..Respondent ..Respondent Ms. Aarti Sathe, Advocate for the Appellant.Mr. Sham Walve, Advocate for the Respondent. CORAM : UJJAL BHUYAN & MILIND N. JADHAV, JJ. DATE : 4[th] FEBRUARY, 2021 P.C. 1. Heard Ms. Aarti Sathe, learned counsel for the appellant andMr. Sham Walve, learned counsel for the respondent. 2. This appeal has been preferred by the assessee as the appellantunder section 260A of the Income Tax Act, 1961 against the order dated28.10.2015 passed by the Income Tax Appellate Tribunal, “E” Bench,Mumbai in ITA No.5396/Mum/2011 for the assessment year 2005-06. 3. The appeal was admitted by this Court by order dated21.01.2019 on the substantial question of law framed in the said order. 4. Today the appeal is before us on a praecipe filed by learnedcounsel for the appellant. 5. It is stated that Parliament has enacted the Direct Tax Vivad se BGP. 1 of 2 (8)-ITXA-1348-16.doc. Vishwas Act, 2020 providing for a scheme for resolution of tax disputes. Interms thereof, appellant has filed declaration under section 3 on 11.11.2020before the designated authority. Designated authority issued certificateunder section 5(1) on 29.01.2021 determining the amount payable. Forpassing of the final order under section 5(2), appellant is required towithdraw the appeal under section 4(3) and to furnish proof of withdrawalalong with intimation of payment, if any, to the designated authority.Hence, prayer for withdrawal of the appeal. 6. Learned counsel for the respondent has no objection to theprayer made. 7. Having regard to the above, we allow withdrawal of the appeal. 8. Appeal is accordingly disposed of as withdrawn. 9. Refund as per rules. MILIND N. JADHAV, J UJJAL BHUYAN, J 2 of 2