NEERJA ARVIND PARIKH, Mumbai V. DCIT 3 (3)(2), Mumbai

ITA 1124/MUM/2019

• Counselvise Citation: [2020] 109 COUNSELVISE.COM (IT) 8845 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 10 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-12-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2014-2015
• Appeal Filed On: 27-02-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SUNIL S DESH
• Assessee Lawyers: KUNAL PANDEY
• Keywords: Bad and doubtful debts

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES B , MUMBAI BEFORE S HRI SHAMIM YAHYA (AM ) AND SHRI RAM LAL NEGI (JM) ITA NO. 1124 /MUM/2019 ASSESSMENT Y EAR: 2014 - 15 NEERJA ARVIND PARIKH, 333, TANHEE HEIGHTS, PETIT HALL 66 - D, NEAPEN SEA ROAD, MUMBAI - 400006 PAN: ABHPP4063E VS. THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 3(3)(2), (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI KUNAL PANDEY (A R) REVENUE BY : SHRI SUNIL S. DESHPANDE (DR) DATE OF HEARING: 31/12 /2020 DATE OF PRONOUNCEMENT: 31 / 12 /2020 O R D E R PER RAM LAL NEGI, JM THE APPELLANT/ASSESSEE HAS FILED THE PRESENT APPEAL AGAINST THE ORDER DATED 29.01.2019 PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS) - 8 (F OR SHORT THE CIT(A) , MUMBAI, FOR THE ASSESSMENT YEAR 2014 - 15 , WHEREBY THE LD. CIT(A) HAS PARTLY ALLOWED T HE APPEAL FILED BY THE ASSESSEE AGAINST THE ASSESSMENT ORDER PASSED U/S 143 (3) OF THE INCOME TAX ACT, 1961 (FOR SHORT THE ACT). 2. THE ASSESSEE H AS CHALLENGED THE IMPUGNED ORDER PASSED BY THE LD. CIT (A) ON THE FOLLOWING EFFECTIVE GROUND : - ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN THE LAW, THE HONBLE CIT (A) ERRED IN CONFIRMING THE DISALLOWANCE OF BAD DEBTS OF RS. 2,33,64,533. THE APPEL LANT PRAYS THAT THE DISALLOWANCE MAY PLEASE BE HELD AS BAD IN LAW AND BE DELETED. 2 ITA NO. 1124 / MUM/2019 ASSESSMENT YEAR: 2014 - 1 5 3 . AT THE OUTSET, THE L D . COUNSEL FOR THE APPELLANT/ ASSESSEE SUBMITTED THAT ASSESSEE HAS OPTED TO SETTLE THE DISPUTE UNDER VIVAD SE VISHWAS ACT, 2020, THEREFORE , THE ASSES SEE MAY BE ALLOWED TO WITHDRAW THE PRESENT APPEAL. THE LD. COUNSEL FURTHER INVITED OUR ATTENTION TO THE APPLICATION DATED 23.12.2020 MOVED ON BEHALF OF THE ASSESSEE . 4 . THE LD. DEPARTMENTAL REPRESENTATIVE DID NOT OPPOSE THE AFORESAID SUBMISSIONS MADE BY TH E LD. COUNSEL. 5. WE HAVE PERUSED THE MATERIAL ON RECORD. THE ASSESSEE HAS FILED AN APPLICATION FOR WITHDRAWAL OF THE PRESENT APPEAL . THE RELEVANT PORTION OF THE APPLICATION READS AS UNDER: UNDER THE INSTRUCTIONS FROM THE ABOVE - MENTIONED APPELLANT, WE SU BMIT AS UNDER IN RESPECT OF THE CAPTIONED APPEAL, THE APPELLANT OPTED FOR VSV SCHEME AND DULY FILED APPLICATION ON 02.12.2020 (FORM 1 & FORM 2) FOR THE ADOPTION OF THE VIVAD - SE - VISHWAS SCHEME, 2020 ANNOUNCED IN THE UNION BUDGET,2020. ANNEXURE - 1. THEREFORE , WE HUMBLY REQUEST YOUR HONORS TO KINDLY ALLOW THE APPELLANT TO WITHDRAW THE APPEAL NUMBER ITA NO.1124/MUM/2019 FROM THE HONORABLE TRIBUNAL. 6 . IN VIEW OF THE SUBMISSIONS MADE BY THE LD. COUNSEL, WE ALLOW THE APPLICATION FOR WITHDRAWAL OF APPEAL DATED D EC.23, 2020, FILED ON BEHALF OF THE ASSESSEE AND DISMISS THE PRESENT APPEAL AS WITHDRAWN . IN THE RESULT, APPEAL FILED BY THE ASSESSEE FOR ASSESSMENT YEAR 2014 - 2015 IS DISMISSED. ORDER PRONOUNCED ON 31 ST DECEMBER , 2020 UNDER RULE 34 (4) OF THE I NCOME TAX APPELLATE TRIBUNAL RULES, 1963. SD/ - SD/ - ( SHAMIM YAHYA ) ( RAM LAL NEGI ) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI ; DATED: 31 / 1 2 /2020 3 ITA NO. 1124 / MUM/2019 ASSESSMENT YEAR: 2014 - 1 5 ALINDRA, PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE C IT(A) - 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE . / BY ORDER, //TRUE COPY// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI