SBPL Intrastructure Ltd., Hyd, Hyderabad V. ACIT, Circle-3(1), Hyderabad, Hyderabad

ITA 1121/HYD/2016

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 0784 (ITAT-HYDERABAD)
• Duration Of Justice: 4 year(s) 6 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-B
• Next Hearing Date: 09-02-2021
• Assessment Year: 2001-2002
• Appeal Filed On: 23-08-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: S RAMA RAO
• Section: 201; 144

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES B : HYDERABAD (THROUGH VIRTUAL CONFERENCE) BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER IT A NO . 1 121 /H/201 6 ASSESSMENT YEAR: 20 01 - 02 SBPL INFRASTRUCTURE LTD., HYDERABAD. PAN AACCS 9014M VS. DY. COMMISSIONER OF INCOME - TAX, CENTRAL CIRCLE 3 ( 1 ), HYDERABA D. (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI S. RAMA RAO REVENUE BY : SHRI ROHIT MUJUMDAR DATE OF HEARING: 15 /0 2 /2021 DATE OF PRONOUNCEMENT: 25 / 0 2 /2021 O R D E R PER BENCH: TH IS ASSESSEES APPEAL FOR AY 20 01 - 02 IS DIRECTED AGAINST THE C I T(A) - 3 , HYDERABAD S ORDER , DATED 09 /0 5 / 201 6 PASSED IN CASE NO. 261/AC 3(1) /CIT(A) 3/2011 - 12 INVOLVING PROCEEDINGS U/S 14 4 RWS 254 OF THE INCOME TAX ACT, 1961 ; IN SHORT THE ACT. I TA NO . 1121/ HYD/1 6 SBPL INFRASTRUCTURE LTD., HYD. : - 2 - : 2. AT THE OUTSET, LD. COUNSEL FOR THE ASSESSEE REQUES TED THE BENCH FOR PERMISSION TO WITHDRAW ASSESSEES APPEAL AS THE ASSESSEE HAS OPTED TO AVAIL DIRECT TAX VIVAD SE VISWAS SCHEME - 2020 AND HAD FILED FORM NO. 1 & 2 AND FORM 3 IS AWAITING TO RECEIVE FROM THE REVENUE. 3. HAVING REGARD TO THE FACTS AND CIRCUMSTANCES OF THE CASE, WE A RE INCLINED TO DISMISS THE APPEAL OF THE ASSESSEE AS WITHDRAWN SINCE THE ASSESSEE HAS PREFERRED TO AVAIL THE VIVAD - SE - VISHWAS SCHEME BY FILING FORM NO.1 & 2 AND FORM - 3 IS AWAITING TO RECEIVE FROM THE REVENUE . ACCORDINGLY, WE HEREBY DISMISS THE APPEAL OF THE ASSESSEE AS WITHDRAWN. HOWEVER, WE ALSO MAKE IT CLEAR THAT, IF THE ASSESSEE'S CASE IS NOT ACCEPTED IN THE VIVAD - SE - VISWAS SCHEME BY THE REVENUE FOR WHATSOEVER MAY BE THE REASON, THEN ASSESSEE SHALL BE AT L IBERTY TO FILE MISCELLANEOUS PETITION S BEFORE THE TRIBUNAL WITHIN THE TIME LIMIT PRESCRIBED UNDER THE ACT TO REINSTAT E ITS APPEAL. I TA NO . 1121/ HYD/1 6 SBPL INFRASTRUCTURE LTD., HYD. : - 3 - : 4 . IN THE RESULT, ASSESSEES APPEAL IS DISMISSED IN ABOVE TERMS. PRONOUNCED IN THE OPEN COURT ON 25 TH FEBRUARY , 2021 . SD/ - SD/ - ( S.S. GODARA ) (LAXMI PRASAD SAHU) JUDICIAL MEMBER ACCOUNTANT MEMBER HYDE RABAD, DATED : 25 TH FEBRUARY , 20 2 1 . K V C OPY TO : 1 SBPL INFRASTRUCTURE LTD., C/O SRI S. RAMA RAO, ADVOCATE, FLAT NO. 102, SHRIYAS ELEGANCE, 3 - 6 - 643, STREET NO. 9, HIMAYATNAGAR, HYDERABAD 500 029. 2 DY. COMMISSIONER OF INCOME - TAX, CENTRAL CIRCLE 3 ( 1 ), HYDERABAD. 3 C I T(A) - 3 , HYDERABAD 4 PR. CIT - 3 , HYDERABAD 5 ITAT, DR, HYDERABAD. 6 GUARD FILE.