GENERAL ELECTRIC COMPANY, MUMBAI V. ASST. DIRECTOR OF INCOME TAX (INT.TAX.)-3(1), MUMBAI

ITA 1416/MUM/2009

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 5495 (ITAT-MUMBAI)
• Duration Of Justice: 11 year(s) 10 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-01-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: K
• Next Hearing Date: 16-09-2013
• Assessment Year: 2003-2004
• Appeal Filed On: 02-03-2009
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SANJAY SINGH
• Assessee Lawyers: AMEYA PANT

Judgement Text

ITA NO S . 1416 & 1417 /MUM/2009 ITA NOS. 1342 & 1343/MUM/2009 ASSESSMENT YEAR S : 2003 - 04 & 2004 - 05 PAGE 1 OF 2 INCOME TAX APPELLATE TRIBUNAL MUMBAI I BENCH, MUMBAI [CORAM: PRAMOD KUMAR (VICE PRESIDENT) AND SAKTIJIT DEY (JUDICIAL MEMBER)] ITA NO S . 1416 & 1417 /MUM/2009 ASSESSMENT YEAR S : 2003 - 04 & 2004 - 05 GENERAL ELECTRIC COMPANY ....................A SSESSEE PWC HOUSE, PLOT NO. 18/A, GURU NANAK ROAD (STATION ROAD), BANDRA (W), MUMBAI 400050 [PAN: AAACG5399M ] VS ASSISTANT DIRECTOR OF INCOME TAX (INTERNATIONAL TAXATION) - 3(1), MUMBAI. ....................REVENUE ITA NOS. 1342 & 1343/MUM/2009 ASSESSMENT YEARS: 2003 - 04 & 2004 - 05 ADDITIONAL DIRECTOR OF INCOME TAX (INTERNATIONAL TAXATION) - 3(1), MUMBAI. ....................REVENUE VS GENERAL ELECTRIC CAPITAL CORPORATION ....................ASSESSEE C/O PRICEWATER HOUSE COOPERS P. LTD., PWC HOUSE, PLOT NO. 18/A, GURU NANAK ROAD (STATION ROAD), BANDRA (W), MUMBAI 400050 [PAN: AACCG0933H ] APPEARANCES BY AMEYA PANT FOR THE A SSESSEE SANJAY SINGH FOR THE RE VENUE DATE OF CONCLUDIN G THE HEARING : JANUARY 13, 2021 DATE OF PRON OUNCEMENT : JANUARY 1 4 , 2021 ITA NO S . 1416 & 1417 /MUM/2009 ITA NOS. 1342 & 1343/MUM/2009 ASSESSMENT YEAR S : 2003 - 04 & 2004 - 05 PAGE 2 OF 2 ORDER PER BENCH: - 1. THESE APPEAL S , FILED BY THE ASSESSEE AS WELL AS REVENUE , CALL INTO QUESTION THE CORRECTNESS OF THE ORDER DATED 21.11.2018, PASSED BY THE LD. CIT(A) - XXXII I , MUMBAI IN THE MATTER OF ASSESSMENT U/S.143(3) OF THE INCOME TAX ACT, 1961, FOR THE ASSESSMENT YEAR S 2003 - 04 & 2004 - 05 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 S E VISHWAS ACT, 2020 (ACT 3 OF 2020) AND IS AWAITING FOR FINAL RESOLUTION OF THE MATTER UNDER THE SAID SCHEME. HE SUBMITTED THAT UPON COMPLETION OF THE NECESSARY FORMALITIES, HE WILL WITHDRAW HIS APPEAL. IN RESPONSE TO THE SUGGESTION FROM THE BENCH, HE FAIR LY ACCEPTED THAT HE HAS NO OBJECTION TO THE APPEAL BEING DISMISSED AS WITHDRAWN AS LONG AS HIS RIGHT FOR 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 RIGHT 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 MATT ER NOT BEING RESOLVED UNDER THE VIVAD SE VISHWAS SCHEME, BOTH ASSESSEE AND REVENUE SHALL HAVE LIBERTY TO APPROACH THE TRIBUNAL FOR RESTORATION OF THEIR RESPECTIVE APPEALS. 5. IN THE RESULT, THESE APPEALS ARE DISMISSED AS WITHDRAWN SUBJECT TO THE OBSERV ATION ABOVE. PRONOUNCED IN 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 THE 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, MUMBAI