SHRI MIKHIL KUMAR MAGANLAL JAIN, MUMBAI V. INCOME TAX OFFICER 18(2)(3) PRESENTLY INCOME TAX OFFICER 21(2)(3), MUMBAI

ITA 1279/MUM/2018

• Counselvise Citation: [2020] 109 COUNSELVISE.COM (IT) 9672 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 9 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-12-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2003-2004
• Appeal Filed On: 05-03-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 22

Judgement Text

ITA NO. 1279/MUM/2018 ASSESSMENT Y EAR: 2003 - 04 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI D BENCH, MUMBAI [CORAM: JUSTICE P. P. BHATT (PRESIDENT) AND PRAMOD KUMAR (VICE PRESIDENT)] ITA NO. 1279/MUM/2018 ASSESSMENT Y EAR: 2003 - 04 SHRI MIKHIL KUMAR MAGANLAL JAIN .APPELLANT 89 - B, PANKAJ MANSION, DR. A. B. ROAD, WORLI, MUMBAI - 400 018 [PAN: AECPJ 0041 E ] VS INCOME TAX OFFICER 18(2)(3) (PRESENTLY ITO - 21(2)(3 ) ), PIRAMAL CHAMBER, LALBAUG, MUMBAI .......... RESPONDENT APPEARANCES BY 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 ASSESSEE APPELLANT HAS CALLED INTO QUESTION CORRECTNESS OF THE ORDER DATED 14.11.2017 PASSED BY THE LEARNED CIT(A) - 33, MUMBAI IN THE MATTER OF ASSESSMENT U/S.14 4 O F THE INCOME TAX ACT, 1961, FOR THE ASSESSMENT YEAR 2003 - 04. 2. WHEN THIS APPEAL WAS CALLED OUT FO R HEARING, IT IS NOTICED THAT THE ASSESSEE HAS FILED THE NECESSARY DECLARATION UNDER DIRECT TAX VIVAD SE VISHWAS ACT, 2020 (ACT 3 OF 2020) AND IS AWAITING FOR FINAL RESOLUTION OF THE MATTER UNDER THE SAID SCHEME. ITA NO. 1279/MUM/2018 ASSESSMENT Y EAR: 2003 - 04 PAGE 2 OF 2 3. THE LD. 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. 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 IN VIEW OF THE ABOVE, WE DISMISS THE APPEAL AS WITHDRAWN, SUBJECT TO BE RIDER THAT IN THE UNLIKELY EVENT OF MATTER NOT BEING RESOLVED UNDER THE VIVAD SE VISHWAS SCHEME , THE ASSESSEE SHALL HAVE LIBERTY TO APPROACH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 H IS APPEAL. 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 IN THE RESULT, THE APPEAL IS DISMISSED AS WITHDRAWN SUBJECT TO THE OBSERVATION ABOVE.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 . SD/ - SD/ - JUSTICE P. P. BHATT PRAMOD KUMAR ( PRESIDENT ) (VICE PRESIDENT) MUMBAI, DATED THE 22 ND DAY OF DECEMBER, 2020 ROSHANI, 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