DDIT (IT) 3(1), MUMBAI V. GENERAL ELECTRIC CAPITAL CORPORATION, MUMBAI

ITA 1414/MUM/2012

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 5497 (ITAT-MUMBAI)
• Duration Of Justice: 8 year(s) 10 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-01-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: K
• Next Hearing Date: 26-08-2013
• Assessment Year: 2005-2006
• Appeal Filed On: 01-03-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SANJAY SINGH
• Assessee Lawyers: AMEYA PANT

Judgement Text

ITA NO. 1347 & 1414 /MUM/2012 ASSESSMENT YEAR: 2005 - 06 PAGE 1 OF 2 INCOME TAX APPELLATE TRIBUNAL MUMBAI I BENCH, MUMBAI [CORAM: PRAMOD KUMAR (VICE PRESIDENT) AND SAKTIJIT DEY (JUDICIAL MEMBER)] ITA NO. 1347/MUM/2012 ASSESSMENT YEAR: 2005 - 06 GENERAL ELECTRIC CAPITAL CORPORATION ...ASSESSEE C/O DUTT MENON DUNMORR SETT, 127, MAKER CHAMBERS III, NARIMAN POINT, MUMBAI 400021 [PAN: AACCG0933H] VS ADDITIONAL DIRECTOR OF INCOME TAX (INTERNATIONAL TAXATION) - 3(1), MUMBAI. .......... REVENUE ITA NO. 1414/MUM/2012 ASSESSMENT YEAR: 2005 - 06 DEPUTY DIRECTOR OF INCOME TAX (INTERNATIONAL TAXATION) - 3(1), MUMBAI. .......... REVENUE VS GENERAL ELECTRIC CAPITAL CORPORATION ... ASSESSEE C/O DUTT MENON DUNMORR SETT, 127, MAKER CHAMBERS III, NARIMAN POINT, MUMBAI 400021 [PAN: AACCG0933H] APPEARANCES BY AMEYA PANT FOR THE ASSESSEE SANJAY SINGH FOR THE RESPONDENT DATE OF CONCLUDIN G THE HEARING : JANUARY 13, 2021 DATE OF PRON OUNCEMENT : JANUARY 1 4 ,2021 ITA NO. 1347 & 1414 /MUM/2012 ASSESSMENT YEAR: 2005 - 06 PAGE 2 OF 2 ORDER PER BENCH: - 1. THESE APPEAL S , FILED BY THE AS SESSEE AS WELL AS REVENUE, CALL INTO QUESTION THE CORRECTNESS OF THE ORDER DATED 09.12.2011, PASSED BY THE LD. CIT(A) - 15, MUMBAI IN THE MATTER OF ASSESSMENT U/S.143(3) OF THE INCOME TAX ACT, 1961, FOR THE ASSESSMENT YEAR 2005 - 06. 2. WHEN THESE APPEALS WERE CALLED OUT FOR HEARING, THE LD. COUNSEL OF THE ASSESSEE SUBMITTED THAT HE 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 S CHEME. HE SUBMITTED THAT UPON COMPLETION OF THE NECESSARY FORMALITIES, HE WILL WITHDRAW HIS APPEAL. IN RESPONSE TO THE SUGGESTION FROM THE BENCH, HE FAIRLY ACCEPTED THAT HE HAS NO OBJECTION TO THE APPEAL BEING DISMISSED AS WITHDRAWN AS LONG AS HIS RIGHT FO R REVIVAL OF THE APPEAL ARE PROTECTED, IN THE EVENT OF, FOR SOME UNFORESEEN REASON, THE MATTER BEING NOT SETTLED UNDER THE VIVAD SE VISHWAS SCHEME. 3. THE LD. DR ALSO AGREED THAT THE APPEAL OF THE REVENUE MAY ALSO BE DISMISSED AS WITHDRAWN WITH SIMILAR R IGHT OF REVIVAL OF THE APPEAL. 4. IN VIEW OF THE ABOVE, WE DISMISS THESE APPEALS AS WITHDRAWN, SUBJECT TO THE RIDER THAT IN THE UNLIKELY EVENT OF MATTER NOT BEING RESOLVED UNDER THE VIVAD SE VISHWAS SCHEME, BOTH ASSESSEE AND REVENUE SHALL HAVE LIBERTY T O APPROACH THE TRIBUNAL FOR RESTORATION OF THEIR RESPECTIVE APPEALS. 5. IN THE RESULT, THESE APPEALS ARE DISMISSED AS WITHDRAWN SUBJECT TO THE OBSERVATION ABOVE. PRONOUNCED I N THE OPEN COURT TODAY ON THE 1 4 JANUARY, 2021. S D / - S D / - SAKTIJIT DEY PRAMOD K UMAR ( JUDICIAL MEMBER ) (VICE PRESIDENT) MUMBAI, DATED TH E 1 4 DAY OF JANUARY, 2021 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, MUMBA I