M/S.KG CORPORATION , MUMBAI V. DCIT 5(3), MUMBAI

ITA 1356/MUM/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 0675 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 9 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-12-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: H
• Assessment Year: 2014-2015
• Appeal Filed On: 06-03-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: T S KHALSA
• Assessee Lawyers: VIDE S LETTER DATED
• Keywords: Competent authority
• Section: 143(3)

Judgement Text

H IN THE INCOME TAX APPELLATE TRIBUNAL H BENCH, MUMBAI , . , BEFORE S H RI MAHAVIR SINGH, VP AND S H RI M. BALAGANESH, AM ./ ITA NO. 1356 / MUM/ 2018 ( / ASSESSMENT YEAR 2014 - 15 ) ./ ITA NO. 130 / MUM/ 2020 ( / ASSESSMENT YEAR 2014 - 15 ) KG CORPORATION LTD. 11/12, RAGH UVANSHI MILL COMPOUND, LOWER PAREL, MUMBAI - 400 013 / VS. THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 5(3), AIR INDIA BUILDING, 19 TH FLOOR, ROOM NO. 1906, NARIMAN POINT MUMBAI - 400 021 ( / APPELLANT) ( / RESPONDENT) . / PAN NO. AACCT 3462 C / APPELLANT BY : VIDE ASSESSEES LETTER DATED. 02.11.2020 / RESPONDENT BY : SHRI T. S . KHALSA , DR / DATE OF HEARING : 18 .1 2 . 2020 / DATE OF PRONOUNCEMENT : 1 8.12.2020 / O R D E R , / PER MAHAVIR SINGH, VP : THESE APPEALS OF ASSESSEE IS ARISING OUT OF THE ORDER S OF THE COMMISSIONER OF INCOME TAX (APPEALS)] - 53 , MUMBAI [IN SHORT CIT(A)], ITA NOS.1356/M/18 & 130/M/20 KG CORP ORATION LTD. PAGE | 2 DATE D 15.12.2017 & 25.10.2019 . THE ASSESSMENT WAS FRAMED BY THE DY. COMMISSIONER OF INCOME TAX (IN SHORT DCIT / AO) FOR THE A.Y. 2014 - 15 VIDE ORDER DATED 28.12.2016 UNDER SECTION 143(3) OF THE INCOME - TAX ACT, 1961 (HEREINAFTER THE ACT). 2. THE ASSESSEE HAS MOVED PETITION SEEKING WITHDRAWAL OF THE APPEAL ON THE GROUND THAT THE MAT TER IS SETTLED UNDER VIVAD SE VISHWAS SCHEME 2020. 3. THE LEARNED DEPARTMENTAL REPRESENTATIVE DOES NOT OPPOSE THE PRAYER SO MADE BY THE ASSESSEE. 4. WE HAVE HEARD THE LEARNED DEPARTMENTAL REP RESENTATIVE SHRI. T.S. KHALSA AND ALSO PERUSED THE LETTER OF THE ASSESSEE DATED 02.11.2020 . IN THE LETTER, THE ASSESSEE HAS OPTED TO SETTLE THE DISPUTE UNDER THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020. 5. WE FIND THAT THE ASSESSEE HAS ENCLOSED THE COPY OF APP LICATION OF FORM NO. 3 UNDER SECTION 5(1) OF THE DIRECT TAX VIVAD SE VISWAS SCHEME - 2020 FILED BEFORE THE COMPETENT AUTHORITY. WE NOTED THAT ONCE THE ASSESSEE HAS OPTED FOR VIVAD SE VISWAS SCHEME - 2020 AND FILED FORM - 3 UNDER THE VIVAD SE VISWAS SCHEME - 2 020 WITH THE COMPETENT AUTHORITY AND THE COMPETENT AUTHORITY HAS ISSUED FORM NO.3 , IT IS NOT NECESSARY FOR THE TRIBUNAL TO DECIDE THE ABOVE RAISED ISSUE AS THE GOVT. OF INDIA HAS ENACTED THE DIRECT TAX VIVAD SE VISWAS SCHEME ACT 2020 TO PROVIDE FOR RESOLU TION OF DISPUTE MECHANISM IN REGARD TO DIRECT TAX DISPUTES AND FOR MATTERS CONNECTED THEREWITH OR INCIDENTAL THERETO. IN TERM S OF THE SAID ACT, THE ASSESSEE HAS BEEN GIVEN AN OPTION TO PUT AN END TO THE TAX DISPUTES WHICH MAY BE ITA NOS.1356/M/18 & 130/M/20 KG CORP ORATION LTD. PAGE | 3 PENDING AT DIFFERENT LEVELS INCLUDING THE INCOME TAX APPELLATE TRIBUNAL. UNDER SECTION 25 OF THE DIRECT TAX VIVAD SE VISWAS SCHEME - 2020 DISPUTED TAX HAS BEEN DEFINED AND ALSO IN TERM S OF SECTION 3, A DECLARANT MEANS A PERSON WHO HAS FILED A DECLARATION ON OR BEFORE THE LAST DATE W ITH DECLARATION BEFORE DESIGNATED OR COMPETENT AUTHORITY IN ACCORDANCE WITH THE PROVISIONS OF SECTION 4 IN RESPECT OF TAX ARREARS. THEN, NOTWITHSTANDING ANYTHING CONTAINED IN THE INCOME TAX ACT, 1961 OR ANY OTHER LAW FOR THE TIME BEING IN FORCE, T HE AMOUNT PAYABLE BY THE DECLARANT SHALL BE DETERMINED IN TERMS OF SECTION 3 OF DIRECT TAX VIVAD SE VISWAS SCHEME ACT 2020. 6. IN VIEW OF THE FACTS THAT THE ASSESSEE HAS SUBMITTED FORM NO. 3 ISSUED BY THE COMPETENT AUTHORITY UNDER DIRECT TAX VIVAD SE VISWAS SCHEME - 2020 , WE DISMISS THIS APPEAL OF ASSESSEE AS WITHDRAW N . 7. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN . ORDER PRONOUNCED IN THE OPEN COURT ON 18.12 .2020 SD/ - SD/ - ( . / M. BALAGANESH ) ( /MAHAVIR SINGH) ( / ACCOUNTANT MEMBER) ( / VICE PRESIDENT) , / MUMBAI, DATED: 18.12 .2020 , . / SUDIP SARKAR, SR.PS ITA NOS.1356/M/18 & 130/M/20 KG CORP ORATION LTD. PAGE | 4 / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE. / BY ORDER, //TRUE COPY// / (ASSTT. REGISTRAR) , / ITAT, MUMBAI