GOLDEN TIME WATCHES (I) PRIVATE LIMITED V. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 2(1)(1)

SCA/2494/2022

AI Insights

In the case of Golden Time Watches (I) Private Limited versus Deputy Commissioner of Income Tax Circle 2(1)(1), the petitioner sought to withdraw their petition following the acceptance of their assessment under the Income Tax Act. The legal representatives for both parties presented their arguments, and the court acknowledged the withdrawal and the nil assessment, leading to the discharge of the notice and vacation of interim relief previously granted.

• Counselvise Citation: [2022] 140 COUNSELVISE.COM (IT) 671109 (HC-GUJARAT)
• Appeal Type: Others
• Pronouncement Date: 06-09-2022
• Assessment Year: misc
• Laws Referred To: Income Tax Act
• Result in Favour of: Others
• Court: HIGH COURT
• Department Lawyers: M R BHATT CO
• Assessee Lawyers: M R BHATT; VAIBHAV PARIKH
• Keywords: Assessment; Income Tax; Withdrawal of Petition; Nil Assessment
• Section: 147; 144(b)

Judgement Text

"C/SCA/2494/2022 ORDER DATED: 06/09/2022 I N T H E H I G H C O U R T O F G U J A R A T A T A H M E D A B A D R / S P E C I A L C I V I L A P P L I C A T I O N N O . 2 4 9 4 o f 2 0 2 2 = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = G O L D E N T I M E W A T C H E S ( I ) P R I V A T E L I M I T E D V e r s u s D E P U T Y C O M M I S S I O N E R O F I N C O M E T A X C I R C L E 2 ( 1 ) ( 1 ) = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = A p p e a r a n c e : M S V A I B H A V I K P A R I K H ( 3 2 3 8 ) f o r t h e P e t i t i o n e r ( s ) N o . 1 M R B H A T T & C O . ( 5 9 5 3 ) f o r t h e R e s p o n d e n t ( s ) N o . 1 , 2 = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = C O R A M : H O N O U R A B L E M R . J U S T I C E N . V . A N J A R I A a n d H O N O U R A B L E M R . J U S T I C E B H A R G A V D . K A R I A D a t e : 0 6 / 0 9 / 2 0 2 2 O R A L O R D E R ( P E R : H O N O U R A B L E M R . J U S T I C E N . V . A N J A R I A ) L e a r n e d s e n i o r a d v o c a t e M r . M . R . B h a t t p l a c e s o n r e c o r d t h e o r d e r d a t e d 1 6 . 0 8 . 2 0 2 2 u n d e r s e c t i o n 1 4 7 r e a d w i t h s e c t i o n 1 4 4 - B o f t h e I n c o m e T a x A c t , w h e r e b y t h e a s s e s s m e n t b y t h e p e t i t i o n e r i s a c c e p t e d a n d n i l a s s e s s m e n t i s f r a m e d , c o p y o f w h i c h i s t a k e n o n r e c o r d . L e a r n e d s e n i o r a d v o c a t e M r . T u s h a r H e m a n i w i t h l e a r n e d a d v o c a t e M s . V a i b h a v i P a r i k h s e e k s p e r m i s s i o n t o w i t h d r a w t h e p e t i t i o n . T h e p e t i t i o n i s d i s p o s e d o f a w i t h d r a w n . N o t i c e d i s c h a r g e d . I n t e r i m r e l i e f g r a n t e d e a r l i e r s t a n d s v a c a t e d . ( N . V . A N J A R I A , J ) ( B H A R G A V D . K A R I A , J ) B I J O Y B . P I L L A I Page 1 of 1 "