Shri G Somashekar Reddy , Bangalore V. Deputy Commissioner of Income Tax Central Circle-1(3), Bangalore

CO 120/BANG/2018

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 8434 (ITAT-BANGALORE)
• Duration Of Justice: 2 year(s) 4 month(s) 23 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 12-01-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 12-01-2021
• Assessment Year: 2007-2008
• Appeal Filed On: 20-08-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: B S BALACHANDRAN
• Keywords: Tax effect
• Section: 254(2)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH : BANGALORE BEFORE SHRI N. V. VASUDEVAN, VICE PRESIDENT AND SHRI CHANDRA POOJARI , ACCOUNTANT MEMBER C.O. NO.120/BANG/2018 (IN ITA NO.1904/BANG/2018) ASSESSMENT Y EAR : 20 07 - 08 THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1(3), III FLOOR, C. R. BUILDING, QUEENS ROAD, BENGALURU 560 001. VS. SHRI. G. SOMASEKHAR REDDY, NO.8, ASHOK NAGAR, HAVAMBHAVI, SIRUGUPPA ROAD, BELLARY 583 103. PAN : AJOPR 6213 R APPELLANT RESPONDENT ASSESSEE BY : SHRI. B. S. BALACHANDRAN, ADVOCATE REVENUE BY : SHRI. GANESH R. GHALE, STANDING COUNSEL FOR DEPARTMENT DATE OF HEARING : 12.1.2021 DATE OF PRONOUNCEMENT : 12 .1.2021 O R D E R PER N. V. VASUDEVAN, VICE PRESIDENT THE C.O. IS FILED BY THE ASSESSEE AGAINST THE ORDER DATED 9.3.2018 OF CIT(A)-11, BENGALURU, RELATING TO ASSESSMENT YEAR 2007-08. THE APPEAL OF THE REVENUE IS ALREADY DISMISSED FOR LOW TAX EFFECT. 2. AS FAR AS THE C.O. RAISED BY THE ASSESSEE IS CONCERNED, LEARNED AR OF THE ASSESSEE ORALLY SUBMITTED THAT THE ASSESSEE HAS OPTED TO SETTLE THE DISPUTE IN THIS APPEAL UNDER THE DIRECT TAX VIVAD SE VISHWAS SCHEME, 2020 AND HAS REQUESTED FOR ADJOURNMENT OF THE APPEAL. 3. IN THE COURSE OF HEARING, IT WAS THE PROPOSITION PUT FORWARD BY THE BENCH THAT UNDER THESE FACTS, THE APPEAL OF THE ASSESSEE MAY BE DISMISSED AS C.O. NO.120/BANG/2018 (IN ITA NO.1904/BANG/2018) PAGE 2 OF 2 WITHDRAWN AND LIBERTY MAY BE GRANTED TO THE ASSESSEE TO APPROACH THIS TRIBUNAL FOR RECALL OF THIS ORDER UNDER SECTION 254(2) OF THE ACT IN CASE THE ASSESSEE FINALLY OPTS OUT OF VIVAD SE VISHWAS SCHEME, 2020. IN REPLY, IT WAS SUBMITTED BY LEARNED AR OF THE ASSESSEE THAT IF THE LIBERTY IS GRANTED TO THE ASSESSEE, THEN WE HAVE NO OBJECTION ABOUT DISMISSAL OF THE APPEAL AS WITHDRAWN. 4. THE APPEAL IS ACCORDINGLY DISMISSED AS WITHDRAWN. THE ASSESSEE IS HOWEVER AT LIBERTY TO SEEK RECALL OF THIS ORDER IN CASE THE ASSESSEE IS NOT ABLE TO SETTLE THE DISPUTE UNDER THE SCHEME. 5. IN THE RESULT, ASSESSEES APPEAL IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED ON THE CAPTION PAGE. SD/- SD/- SD/- SD/- BANGALORE, DATED: 12.1.2021. /NS/* COPY TO: 1. APPELLANTS 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR, ITAT, BANGALORE. ( CHANDRA POOJARI ) (N. V. VASUDEVAN) ACCOUNTANT MEMBER VICE PRESIDENT