MACQUARIE BANK LTD, MUMBAI V. DCIT (IT) 3(2)(1), MUMBAI

ITA 1146/MUM/2017

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 1701 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 11 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: L
• Assessment Year: 2012-2013
• Appeal Filed On: 17-02-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH I, MUMBAI , !',#$ ! % BEFORE SHRI PRAMOD KUMAR, VICE PRESIDENT & SHRI VIKAS AWASTHY, JUDICIAL MEMBER . 2825/ / 2012 ($). . 2008-09 ) ITA NO.2825/MUM/2012(A.Y.2008-09) . 7344/ / 2012 ($). . 2009-10 ) ITA NO.7344/MUM/2012(A.Y.2009-10) DEPUTY/ASSTT.DIRECTOR OF INCOME TAX (INTERNATIONAL TAXATION) 4(1), 133, SCINDIA HOUSE, BALLARD PIER, MUMBAI 400 038 ...... '+ / APPELLANT ) VS. M/S. MACQUARIE BANK LTD., C/O.SRBC AND ASSOCIATES LLP, 14 TH FLOOR, THE RUBY, 29 SENAPATI BAPAT MARG, DADAR (WEST), MUMBAI 400028 PAN; AAECM 2014P ..... $,/ RESPONDENT . 1146/ / 2017 ($). . 2012-13 ) ITA NO.1146/MUM/2017(A.Y.2012-13) . 1237/ / 2017 ($). . 2013-14 ) ITA NO.1237/MUM/2017(A.Y.2013-14) . 7176/ / 2017 ($). . 2014-15 ) ITA NO.7176/MUM/2017(A.Y.2014-15) M/S. MACQUARIE BANK LTD., C/O.SRBC AND ASSOCIATES LLP, MUMBAI 400 038 PAN: AABTJ1167E ...... '+/ APPELLANT ) VS. DCIT (INTERNATIONAL TAXATION) 3(2)(1) MUMBAI 400 021 ..... $,/ RESPONDENT 2 M/S. MACQUARIE BANK LTD., ASSESSEE BY : SHRI JEJOO KOT HARI REVENUE BY : SHRI S.S.IYENGAR )-$, '/ DATE OF HEARING : 16/02/2021 ./ -$, '/ DATE OF PRONOUNCEMENT : 16/02/2021 %/ ORDER PER VIKAS AWASTHY,JM: THESE BUNCH OF APPEALS INCLUDE APPEALS BY THE R EVENUE, AS WELL AS THE ASSESSEE. THE REVENUE IS IN APPEAL FOR THE ASSES SMENT YEARS 2008-09 AND 2009-10. THE APPEALS BY THE ASSESSEE ARE FOR ASSESSMENT YE ARS 2012-13 TO 2014-15. 2. THE ASSESSEE HAS FILED A LETTER DATED 12/02/20 21 INTIMATING THAT THE ASSESSEE HAS OPTED FOR VIWAD SE VISHWAS SCHEME, 2020( IN SHORT VSVS) IN ALL THE IMPUGNED ASSESSMENT YEARS AND HAS MADE APPLICATION IN THE P RESCRIBED FORM NO. 1 & 2 ON 22/01/2021 . SHRI JEJOO KOTHARI APPEARING ON BEHALF OF ASSESSEE MADE STATEMENT DURING THE PROCEEDINGS THAT THE ASSESSEE MAY BE ALL OWED TO WITHDRAW THE APPEALSWITH LIBERTY TO REVIVE IN CASE THE DECLARATI ON MADE UNDER VSVS IS NOT ACCEPTED. 3. SHRI S.S.IYENGAR REPRESENTING THE DEPARTMENT STATED THAT THE DEPARTMENT HAS NO OBJECTION IF THE ASSESSEE WANTS TO AVAIL T HE BENEFIT OF VSVS. 4. HEARD. IN VIEW OF THE FACT THAT THE ASSESSEE HAS OPTED FOR VSVS, AND THE LD. AUTHORIZED REPRESENTATIVE FOR THE ASSESSEE HAS MADE STATEMENT THAT THE ASSESSEE WISHES TO WITHDRAW APPEALS SUBJECT TO ACCEPTANCE O F DECLARATION MADE UNDER VSVS, THE APPEALS OF ASSESSEE FOR IMPUGNED ASSESSMENT YE ARS ARE DISMISSED AS WITHDRAWN AT THIS STAGE. 3 M/S. MACQUARIE BANK LTD., 5. THE ASSESSEE HAS ALSO OPTED FOR VSVS IN RESPEC T OF THE ASSESSMENT YEARS WHERE THE REVENUE HAS FILED APPEALS I.E. ASSESSMENT YEAR 2008- 09 AND 2009-10. SINCE THE ASSESSEE HAS OPTED FOR VSVS THE APPEA LS BY THE REVENUE HAVE BECOME INFRUCTUOUS AND ARE DISMISSED, AS SUCH. 6. LIBERTY IS GRANTED TO THE ASSESSEE/REVENUE TO RE VIVE THE APPEALS IN THE EVENT DECLARATION FILED BY THE ASSESSEE UNDER VSVS FAILS TO MATURE. IT IS FURTHER MADE CLEAR THAT IF THE ASSESSEE /REVENUE SEEKS TO REVIVE THE APPEALS IN THE EVENT ASSESSEES DECLARATION MADE UNDER VSVS IS NOT ACCEPTED, THE RE GISTRY SHALL NOT INSIST FOR FILING OF APPLICATION FOR CONDONATION OF DELAY, IF THE MISCEL LANEOUS APPLICATION FOR RECALLING THE ORDER IS FILED BEYOND TIME ON ACCOUNT OF DELAY IN COMMUNICATION OF OUTCOME UNDER VSVS. [ RE. M/S. NANNUSAMY MOHAN(HUF) VS. AC IT IN T.C.A NO.372 OF 2020 DECIDED ON 16/10/2020 BY HONBLE MADRAS HIGH COURT ] 7. THE APPEALS BY ASSESSEE ARE DISMISSED AS WI THDRAWN AND THE APPEALS BY REVENUE ARE DISMISSED AS INFRUCTUOUS, WITH THE L IBERTY AFORESAID. ORDER PRONOUNCED IN THE OPEN COURT ON TUESDAY THE 16 TH DAY OF FEBRUARY, 2021. SD/- SD/- (PRAMOD KUMAR) (VIKAS AWAS THY) / VICE PRESIDENT #$ ! / JUDICIAL MEMBER / MUMBAI, 1)/ DATED 16/02/2021 VM , SR. PS (O/S) 4 M/S. MACQUARIE BANK LTD., $,23%/, COPY OF THE ORDER FORWARDED TO : 1. '+ / THE APPELLANT , 2. $, / THE RESPONDENT. 3. 4, ( )/ THE CIT(A)- 4. 4, CIT 5. 56$,$) , . . . , / DR, ITAT, MUMBAI 6. 6789: / GUARD FILE. BY ORDER, //TRUE COPY// ( DY./ASSTT. REGISTRAR) ITAT, MUMBAI