M/s. Space Exim Pvt. Ltd., GANDHIDHAM V. The Assistant Commissioner of Income Tax, Central Circle-2, RAJKOT-GUJARAT

CO 47/RJT/2015

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 4867 (ITAT-RAJKOT)
• Duration Of Justice: 5 year(s) 9 month(s) 26 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 12-05-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 05-05-2021
• Assessment Year: 2011-2012
• Appeal Filed On: 16-07-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S S RATHI
• Assessee Lawyers: MJ RANPURA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RAJKOT BENCH, RAJKOT BEFORE: SHRI AMARJIT SINGH, ACCOUNTANT MEMBER AND MS. MADHUMITA ROY, JUDICI AL MEMBER [CONDUCTED THROUGH E-COURT AT AH MEDABAD] M/S. SPACE EXIM PVT. LTD., PLOT NO. 442, GAYATRI MANDIR ROAD, SECTOR 1A, GANDHIDHAM PAN: AAHCS9748K (APPELLANT) VS ACIT, CIRCLE-2, RAJKOT (RESPONDENT) REVENUE BY: SHRI S.S. RATHI, SR. D.R. ASSESSEE BY: SHRI M.J. RANPURA, A.R . DATE OF HEARING : 05-05-2021 DATE OF PRONOUNCEMENT : 12-05- 2021 /ORDER PER : AMARJIT SINGH, ACCOUNTANT MEMBER:- THIS ASSESSEES CROSS OBJECTION FOR A.Y. 2011-12, A RISES FROM ORDER OF THE CIT(A), IN PROCEEDINGS UNDER INCOME T AX ACT, 1961; IN SHORT THE ACT. CROSS OBJECTION NO. 47/RJT/2015 (IN ITA NO. 259/RJT/2015) ASSESSMENT YEAR 2011-12 M.A. 47/RJT/2015 (IN ITA NO. 259/RJT/2015) A.Y. 2011-12 PAGE NO M/S. SPACE EXIM PVT. LTD. VS. ACIT 2 2 THE ASSESSEE FILED WRITTEN SUBMISSION TO WITHDRAW THE CROSS OBJECTION ON THE GROUND THAT HE HAS OPTED TO AVAIL BENEFITS OF VIVAD SE VISHWAS SCHEME, 2020 AND IN HIS SUBMISSION THE ASSE SSEE HAS ALSO ENCLOSED THE COPIES FORM NO. -3 ISSUED BY THE PR. C IT OF INCOME TAX FOR APPROVING THE APPLICATION FILED BY THE ASSESSEE UNDER THE VIVAD SE VISHWAS SCHEME, 2020. WHEN THE MATTER WAS CALLED F OR HEARING, THE LD. COUNSEL FOR THE ASSESSEE AT THE OUTSET HAS SUBM ITTED THAT HE DOES NOT WANT TO PURSUE THE SAID CROSS OBJECTION SINCE HIS A PPLICATION UNDER VIVAD SE VISHWAS SCHEME, 2020 HAS BEEN APPROVED BY THE INCOME TAX DEPARTMENT AND REQUESTED THAT HIS APPLICATION FOR W ITHDRAWAL OF CROSS OBJECTION MAY PLEASE BE GRANTED. 3. THE LD. DEPARTMENTAL REPRESENTATIVE FOR THE REVE NUE STATED THAT HE HAS NO OBJECTION TO WITHDRAW THE CROSS OBJECTION IN THE CIRCUMSTANCES NARRATED ON BEHALF OF THE ASSESSEE. 4. WE HAVE CONSIDERED THE SUBMISSION AND APPLICATIO N OF THE ASSESSEE FOR WITHDRAWAL OF THE CROSS OBJECTION AS H IS APPLICATION HAS BEEN APPROVED UNDER VIVAD SE VISHWAS SCHEME, 2020. A REFERENCE HAS BEEN MADE IN SUB-SECTION (2) & (3) OF SECTION 4 OF DIRECT TAX VIVAD SE VISHWAS SCHEME, 2020 FOR THE PURPOSE OF WI THDRAWAL OF APPEAL. IN THE LIGHT OF THE PROVISION MADE IN THE SCHEME AND AFTER CONSIDERING THE MATERIAL ON RECORD, THE AFORESAID R EQUEST FOR WITHDRAWAL OF CROSS OBJECTION OF THE ASSESSEE TO AVAIL THE VSV SCHEME, 2020 IN M.A. 47/RJT/2015 (IN ITA NO. 259/RJT/2015) A.Y. 2011-12 PAGE NO M/S. SPACE EXIM PVT. LTD. VS. ACIT 3 ACCORDANCE WITH LAW IS ALLOWED. HOWEVER, IN CASE, ANY ISSUE IS REMAINED UN-RESOLVED UNDER THE SAID SCHEME, THEN, T HE ASSESSEE WILL BE AT LIBERTY TO FILE THE MISCELLANEOUS APPLICATION TO RECALL THIS ORDER TO RESTORE THE ORIGINAL CROSS OBJECTION WITHIN THE TIM E LIMIT PROVIDED IN THE ACT. 5. IN THE RESULT, THE CROSS OBJECTION FILED BY THE ASSESSEE IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 12-05-2021 SD/- SD/- (MADHUMITA ROY) (AMARJIT SINGH) JUDICIAL MEMBER ACCOUNTANT MEMBER AHMEDABAD : DATED 12/05/2021 / COPY OF ORDER FORWARDED TO:- 1. ASSESSEE 2. REVENUE 3. CONCERNED CIT 4. CIT (A) 5. DR, ITAT, AHMEDABAD 6. GUARD FILE. BY ORDER, ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, RAJKOT