THE THANE DISTRICT CENTRAL CO. OP. BANK LTD, THANE V. DCIT CIR 3, THANE

ITA 1315/MUM/2016

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 5541 (ITAT-MUMBAI)
• Duration Of Justice: 4 year(s) 10 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-01-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: Not Allotted
• Assessment Year: 2007-2008
• Appeal Filed On: 11-03-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: VIJAY KUMAR MENON

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL (V I RTUAL COURT) , E BENCH MUMBAI BEFORE SHRI C.N. PRASAD, JM & SHRI M. BALAGANESH, AM ITA NO. 1315 /MUM/ 20 16 ( ASSESSMENT YEAR : 2007 - 08 ) THE THANE DISTRICT CENTRAL CO - OP BANK LTD., SHIVAJI PATH , THANE (W) 400 601 VS. DY. CIT CIRCLE - 3, ASHAR IT PARK WAGLE INDUSTRIAL ESTATE THANE PAN/GIR NO. AAAAT0739N (APPELLANT ) .. (RESPONDENT ) ASSESSEE BY SHRI ASHOK PATIL REVENUE BY SHRI VIJAY KUMAR MENON DATE OF HEARING 28 / 01 /202 1 DATE OF PRONO UNCEMENT 28/01 /202 1 / O R D E R PER M. BALAGANESH (A.M) : THIS APPEAL IN ITA NO. 1315/MUM/2016 FOR A.Y. 2007 - 08 ARISES OUT OF THE ORDER BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 2, MUMBAI IN APPEAL NO. 126/13 - 14 DATED 27/01/2016 (LD. CIT (A) IN SHORT) AGAINST THE ORDER OF ASSESSMENT PASSED U/S.143(3) R.W.S. 147 OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS ACT) DATED 28/03/2013 BY THE LD. DY. COMMISSIONER OF INCOME TAX, CIRCLE - 3, THANE (HEREINAFTER REFERRED TO AS LD. AO). 2. AS SESSEE VIDE ITS AUTHORISED REPRESENTATIVES LETTER DATED 27/01/2021, PRAYED FOR WITHDRAW AL OF APPEAL IN ITA NO.1 31 5 /MUM/201 6 . ITA NO . 1315/MUM/2016 THE THANE DISTRICT CENTRAL CO - OP BANK LTD., 2 FOR THE SAKE OF CONVENIENCE, WE ARE REPRODUCING THE CONTENTS OF THE SAID APPLICATION AS UNDER: - THE ABOVE CAPTIONED APPEAL IS FIX ED FOR HEARING BEFORE YOUR HONOURS TODAY, AND I HA VE BEEN ENGAGED TO APPEAR IN THE SAID APPEAL. THE APPELLANT HAS FILED FOR AMNESTY UNDER THE VIVAD SE VISHWAS SCHEME. HAV E BEEN INSTRUCTED BY THE ASSESSEE TO WITHDRAW THE APPEAL. IN VIEW OF THE ABOVE THE M ATTER MAY BE DECIDED ACCORDINGLY. 3. LD. DR HAS NOT RAISED ANY OBJECTION. 4. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE RECORDS, ESPECIALLY THE APPLICATION FOR WITHDRAWAL OF THE APPEAL. WE FIND THAT ASSESSEE HAD PREFERRED APPLICATION UNDER VIVAD SE V ISHWAS SCHEME - 2020 TO SETTLE ITS TAX DISPUTE FOR THE IMPUGNED ASSESSMENT YEAR. HENCE, THERE IS NO POINT IN KEEPING THIS APPEAL PENDING IN VIEW OF THE DECISION OF THE HONBLE MADRAS HIGH COURT IN THE CASE OF NANNUSAMY MOHAN (HUF) VS. ACIT IN T.C.A. NO.372 OF 2020 DATED 16.10.2020 . ACCORDINGLY, WE TREAT THIS APPEAL OF THE ASSESSEE AS WITHDRAWN GIVING LIBERTY TO THE ASSESSEE THAT IN CASE IF THE DECLARATION FILED BY IT UNDER VIVAD SE VISWAS SCHEME - 2020 DOES NOT ATTAIN LOGICAL CONCLUSION FOR ANY REASON WHATSO EVER, THEN THIS APPEAL SHALL GET RESTORED TO ITS ORIGINAL FORM BASED ON THE APPLICATION PREFERRED BY THE ASSESSEE IN THIS REGARD. WITH AFORESAID OBSERVATIONS, THIS APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN. 5. IN THE RESULT, THE APPEAL OF THE ASSESS EE IS DISMISSED AS WITHDRAWN . ORDER PRONOUNCED IN THE OPEN COURT ON 28/01/2021. SD/ - ( C.N. PRASAD ) SD/ - (M.BALAGANESH) VICE PRESIDENT ACCOUNTANT MEMBER MUMBAI ; DATED 28/01/2021 ITA NO . 1315/MUM/2016 THE THANE DISTRICT CENTRAL CO - OP BANK LTD., 3 KARUNA , SR. PS COPY OF THE ORDER FORWARDED TO : BY ORDER, ( ASSTT. REGISTRAR) ITAT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//