DYNAMIC FLOW PRODUCTS PVT LTD, MUMBAI V. DCIT, CIRCLE-12(2)(1), MUMBAI

ITA 1156/MUM/2019

• Counselvise Citation: [2020] 109 COUNSELVISE.COM (IT) 9678 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 9 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-12-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2014-2015
• Appeal Filed On: 28-02-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 22

Judgement Text

ITA NO. 1156/MUM/2019 ASSESSMENT YEAR: 2014 - 15 PAGE 1 OF 2 INCOME TAX APPELLATE TRIBUNAL MUMBAI D BENCH, MUMBAI [CORAM: JUSTICE P. P. BHATT (PRESIDENT) AND PRAMOD KUMAR (VICE PRESIDENT)] ITA NO. 1156/MUM/2019 ASSESSMENT YEAR: 2014 - 15 DYNAMIC FLOW PRODUCTS PVT. LTD. .. APPELLANT 502/503, SHUDHAM APARTMENT, 51 ST TPS ROAD, BABHAI NAKA, BORIVALI (WEST), MUMBAI 400091 [PAN: AACCD3013F] VS. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 12(2)(1) MUMBAI. .RESPONDENT APPEARANCES: NONE FOR THE APPELLANT BHARAT ANDHALE FOR THE RESPONDENT DATE OF CONCLUDING THE HEARING: : DECEMBER 22 ND , 2020 DATE OF PRONOUNCEMENT : DECEMBER 22 ND , 2020 O R D E R PER BENCH : 1. BY WAY OF THIS APPEAL, THE ASSESSING OFFICER HAS CHALLENGED CORRECTNESS OF THE ORDER DATED 29.28.06.2017, PASSED BY THE LEARNED CIT(A) - 20, MUMBAI IN THE MATTER OF ASSESSMENT U/S.271(1)(C)OF THE INCOME TAX ACT, 1961, FOR THE ASSESSMENT YEAR 2014 - 15. 2. W HEN THIS APPEAL WAS CALLED OUT FOR HEARING, IT IS NOTICED THAT THE ASSESSEE HAS FILED THE NECESSARY DECLARATION UNDER DIRECT TAX VIVAD SE VISHWAS ACT, 2020 (ACT 3 OF 2020) HAS IS AWAITING FOR FINAL RESOLUTION OF THE MATTER UNDER THE SAID SCHEME. 3. THE L D. DR ALSO DID ACCEPT OUR SUGGESTION THAT THIS APPEAL CAN BE DISMISSED, WITH THE LIBERTY TO THE ASSESSEE TO APPROACH THE TRIBUNAL, IF FOR SOME UNFORESEEN REASON, THERE ARE ISSUES WITH RESPECT TO SETTLEMENT OF THE MATTER UNDER VIVAD SE VISHWAS SCHEME, 2020. ITA NO. 1156/MUM/2019 ASSESSMENT YEAR: 2014 - 15 PAGE 2 OF 2 4. IN VIEW OF THE ABOVE, WE DISMISS THE APPEAL AS WITHDRAWN, SUBJECT TO BE RIDER THAT IN THE UNLIKELY EVENT OF MATTER NOT BEING RESOLVED UNDER THE VIVAD SE VISHWAS SCHEME, THE ASSESSEE SHALL HAVE LIBERTY TO APPROACH THE TRIBUNAL FOR RESTORATION OF HIS AP PEAL. 5. IN THE RESULT, THE APPEAL IS DISMISSED AS WITHDRAWN SUBJECT TO THE OBSERVATION ABOVE. PRONOUNCED IN THE OPEN COURT TODAY ON THE 22 ND DECEMBER, 2020. S D / - S D / - JUSTICE P. P. BHATT PRAMOD KUMAR (PRESIDENT) (VICE PRESIDENT) MUMBAI, DATED THE 22 ND DAY OF DECEMBER, 2020 N.V, SR.PS COPIES TO: (1) THE APPLICANT (2) THE RESPONDENT (3) CIT (4) CIT(A) (5) DR (6) GUARD FILE BY ORDER TRUE COPY ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES, MUMBAI