Peregrine Securities India Pvt. Ltd v. Commissioner Of Income Tax-X

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 261 OF 2011 Peregrine Securities India Pvt. Ltd...Appellant VersusCommissioner of Income Tax-X ..Respondents ..Respondents ................... Ms. Rutuja Pawar a/w. Hetal Laghave for the Appellant. Mr. Sham Walve for the Respondents. ................... CORAM : UJJAL BHUYAN & MILIND N. JADHAV, JJ. DATE : JANUARY 28, 2021. P.C.: Heard Ms. Pawar, learned counsel for the appellant and Mr.Walve, learned standing counsel revenue for the respondents. 2. This appeal under section 260A of the Income Tax Act, 1961 hasbeen preferred by the assessee as the appellant against the order dated09.09.2010 passed by the Income Tax Appellate Tribunal, "C" Bench,Mumbai in ITA No. 7297/M/2008 for the assessment year 2002-03. 3.The appeal was admitted by this Court on 03.12.2012 on thesubstantial questions 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 submitted that Parliament has enacted the Direct Tax Vivadse Vishwas Act, 2020 (briefly 'the Act' hereinafter) providing for ascheme for resolution of tax disputes. Appellant has filed a declarationunder section 3 of the said Act before the Designated Authority whichhad thereafter issued a certificate under section 5(1) of the said Actdetermining tax payable at Nil. However, for passing of the final orderunder section 5(2) of the said Act, appellant is required to withdrawthe appeal in terms of section 4(3) thereof. Hence, the prayer forwithdrawal of the appeal. 6. Learned counsel for the respondent has no objection to theprayer made for withdrawal of the appeal. 7. Considering the above, we allow the appellant to withdraw theappeal. Accordingly, the appeal is disposed of as withdrawn. 8. Refund as per Rules. [ MILIND N. JADHAV, J. ] [ UJJAL BHUYAN, J. ] Digitally signedRavindraby Ravindra M.AmberkarM.Date:Amberkar2021.01.2914:53:30+0530