RABO INDIA FINANCE LTD, MUMBAI V. ASST CIT 1(3), MUMBAI

ITA 1176/MUM/2014

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 6105 (ITAT-MUMBAI)
• Duration Of Justice: 6 year(s) 10 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-01-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: K
• Next Hearing Date: 28-08-2014
• Assessment Year: 2006-2007
• Appeal Filed On: 21-02-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL

Judgement Text

1 RABO INDIA FINANCE LIMITED IN THE INCOME TAX APPELLATE TRIBUNAL J BENCH, MUMBAI BEFORE SHRI PRAMOD KUMAR (VICE PRESIDENT) AND SHRI SAKTIJIT DEY ( JUDICIAL MEMBER) I.T(TP) A. NO.1176/MUM/2014 (ASSESSMENT YEAR : 2006-07) & I.T(TP) A. NO.3976/MUM/2014 (ASSESSMENT YEAR : 2008-09) & I.T(TP) A. NO.1177/MUM/2014 (ASSESSMENT YEAR : 2009-10) & I.T(TP) A. NO.2173/MUM/2015 (ASSESSMENT YEAR : 2010-11) & I.T.A. NO.1116/MUM/2016 (ASSESSMENT YEAR : 2011-12) RABO INDIA FINANCE LIMITED (EARLIER KNOWN S RABO INDIA FINANCE PVT LIMITED)1 ST FLOOR, FORBES BUILDING, CHARNJIT RAI MARG, FORT, MUMBAI-400 001 PAN : AAACR6065R VS THE DEPUTY COMMISSIONER OF INCOME-TAX- 1(3), MUMBAI (APPELLANT) (RESPONDENT) APPELLANT BY SHRI PERCY PARDIWALLA (AR) RESPONDENT BY SHRI A MOHAN [CIT (DR)] APPELLANT BY SHRI P.J. PARDIWALLA (AR) RESPONDENT BY SHRI S.S. IYENGAR (DR) DATE OF HEARING 11-01-2021 DATE OF PRONOUNCEMENT 11 /01/2021 2 RABO INDIA FINANCE LIMITED O R D E R PER BENCH, THESE APPEALS BY THE ASSESSEE PERTAIN TO ASSESSMENT YEARS 2006-07, 2008-09, 2009-10, 1010-11 AND 2011-12. 2. SHRI PERCY PARDIWALLA, LEARNED SENIOR COUNSEL APPEARING FOR THE ASSESSEE , AT THE OUTSET, SUBMITTED THAT THE ASSESSEE HAS OPTED FOR SETTLING THE DISPUTE ARISING IN THESE APPEALS BY FILING APPLICATIONS UNDER THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020. IN SUPPORT, COPIES OF FORM NO.1 AND 2 WERE SUBMITTED BEFORE US. ON A SUGGESTION FROM THE BENCH, THE LEARNED COUNSEL FAIRLY ACCEPTED THAT THE APPEALS MAY BE DISMISSED AS WITHDRAWN, HOWEVER, THE ASSESSEE MAY BE GRANTED LIBERTY TO SEEK RESTORATION OF THE APPEALS IF, DUE TO SOME UNFORESEEN REASONS, THE APPLICATIONS FILED UNDER THE VIVAD SE VISHWAS ACT, 2020 ARE NOT ACCEPTED BY THE DEPARTMENT. THE LEARNED DEPARTMENTAL REPRESENTATIVE DID NOT HAVE ANY OBJECTION TO THE AFORESAID SUBMISSION. 3. HAVING HEARD THE PARTIES AND CONSIDERING THE FACT THAT THE ASSESSEE HAS ALREADY APPLIED FOR SETTLING THE DISPUTE ARISING IN THE PRESENT APPEALS UNDER THE VIVAD SE VISHWAS ACT, 2020, WE ARE INCLINED TO DISMISS THESE APPEALS AS WITHDRAWN. HOWEVER, IN THE UNLIKELY EVENT OF ASSESSEES APPLICATION FILED UNDER THE VIVAD SE VISHWAS ACT, 2020 BEING NOT ACCEPTED BY THE DEPARTMENT, LIBERTY IS GRANTED TO THE ASSESSEE TO SEEK RECALL OF THIS ORDER AND RESTORATION OF THE APPEALS. 4. IN THE RESULT, APPEALS FILED BY THE ASSESSEE ARE DISMISSED WITH THE AFOREMENTIONED LIBERTY. 3 RABO INDIA FINANCE LIMITED ORDER PRONOUNCED IN THE OPEN COURT ON THIS 11 /01/2021. SD/- SD/- ( PRAMOD KUMAR) (SAKTIJIT DEY) VICE PRESIDENT JUDICIAL MEMBER MUMBAI, DATED : 11 /01/2021. PAVANAN, SR.P.S (ON CONTRACT) COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT. 2. THE RESPONENT. 3. THE CIT(A) 4. 4. THE CIT 5. D.R., ITAT, MUMBAI. 6. GUARD FILE. //TRUE COPY// BY ORDER I.T.A.., MUMBAI.