Sound Capital Markets Ltd v. Deputy Commissioner Of Income Tax & Anr

Balaji G.Panchal Digitally signed byBalaji G. PanchalDate: 2021.01.1316:17:02 +0530 (2)-ITXA-343-12.doc. IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO.343 OF 2012 Sound Capital Markets Ltd. Versus Deputy Commissioner of Income Tax & Anr. ..Appellant ..Respondents. Ms. Neha Paranjape i/by Jitendra Singh, for the Appellant.Mr. Sham Walve, for the Respondents. CORAM : UJJAL BHUYAN & MILIND N. JADHAV, JJ. DATE : 13[th] JANUARY, 2021 P.C. 1. Heard Ms. Neha Paranjape, learned counsel for theappellant and Mr. Sham Walve, learned counsel for the respondents. 2. This appeal under section 260A of the Income Tax Act,1961 has been preferred by the assessee as the appellant against the orderdated 18.11.2011 passed by the Income Tax Appellate Tribunal, “I” Bench,Mumbai in ITA No.667/Mum/2010 for the assessment year 2004-05. 3. The appeal was admitted by this Court vide order dated10.07.2014 on the substantial question of law framed in the said order. 4. Today, the appeal is before us on praecipe filed by learnedcounsel for the appellant. 1 of 2 (2)-ITXA-343-12.doc. 5. It is submitted that Parliament has enacted the Direct TaxVivaad Se Vishwas Act, 2020 providing for a scheme for settlement of taxdisputes. In terms of the said scheme, appellant has filed necessarydeclaration before the designated authority. However, for passing of finalorder by the designated authority, appellant is required to withdraw theappeal in terms of section 4(3) of the said act. Hence, prayer forwithdrawal of the appeal. 6. Learned counsel for the respondents has no objection to theprayer made. 7. In view thereof, we allow withdrawal of the appeal. 8. Appeal is accordingly disposed of on withdrawal. 9. Refund as per rules. 10.This order will be digitally signed by the Personal Assistant ofthis Court. All concerned will act on production by fax or email of adigitally signed copy of this order. MILIND N. JADHAV, J UJJAL BHUYAN, J BGP. 2 of 2