Pesticides Manufacturers and Formulators Association of India Vs Income Tax Department (ITAT Mumbai)
The Pesticides Manufacturers and Formulators Association of India filed an appeal before the ITAT Mumbai against the National Faceless Assessment Centre (NFAC), Delhi, regarding an assessment order under Section 143(3) of the Income Tax Act for the Assessment Year 2020-21. However, during the proceedings, the assessee’s representative (AR) informed the Tribunal that the assessee had opted for the Vivad Se Vishwas (VSV) Scheme, a government initiative aimed at resolving tax disputes. The assessee had also filed Form-1 under the scheme on November 29, 2024, and requested permission to withdraw the appeal with the liberty to reinstate it if the VSV application was not accepted.
The Departmental Representative (DR) raised no objections to the request. Considering that the assessee had voluntarily chosen to resolve the dispute through the VSV Scheme, the Tribunal accepted the withdrawal and dismissed the appeal in limine. However, the Tribunal allowed the assessee the option to revive the appeal if the VSV application was not ultimately accepted. The order was pronounced on January 20, 2025, confirming the dismissal of the appeal following the assessee’s request.
FULL TEXT OF THE ORDER OF ITAT MUMBAI
The aforesaid appeal has been filed by the assessee against the order dated 23.11.2023 passed by NFAC, Delhi for the quantum of assessment passed u/s 143(3) for the year 2020-21.
