Venkat Homes Private Limited , Hyderabad V. Income Tax Officer, Ward-17(3), Hyderabad

ITA 1575/Hyd/2018

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 0781 (ITAT-HYDERABAD)
• Duration Of Justice: 2 year(s) 7 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-A
• Assessment Year: 2012-2013
• Appeal Filed On: 19-07-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: PHANINDRA SUSARLA
• Section: 271(1)(c)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER I.T.A. NO. 1575/HYD/2018 ASSESSMENT YEAR: 2012-13 VENKAT HOMES PRIVATE LIMITED, HYDERABAD [PAN: AAACV8177E] VS INCOME TAX OFFICER, WARD-17(3), HYDERABAD (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI PHANINDRA SUSARLA, AR FOR REVENUE : SHRI SUNIL KUMAR PANDEY, DR DATE OF HEARING : 03-02-2021 DATE OF PRONOUNCEMENT : 25-02-2021 O R D E R PER BENCH : THIS ASSESSEES APPEAL FOR AY.2012-13 ARISES FROM TH E CIT(A)-5, HYDERABADS ORDER DATED 06-06-2018 PASSED IN APPEAL NO.0314/2017-18/CIT(A)-5, IN PROCEEDINGS U/S . 271(1)(C) OF THE INCOME TAX ACT, 1961 [IN SHORT, THE ACT]. 2. AT THE OUTSET, WE ARE INFORMED DURING THE COURSE OF HEARING THAT THE ASSESSEE HAS FILED FOR SETTLEMENT BENEF IT UNDER THE DIRECT TAX VIVAD SE VISWAS SCHEME-2020 IN PRESC RIBED FORM NO.1 & 2 AND FORM(S)-3 IN TUNE THERETO; ALSO STAN D ISSUED. 3. THE ASSESSEES SOLE IDENTICAL PLEA IN THIS CASE IS THAT SINCE THE DEPARTMENT IS YET TO FINALISE THE SETTLEMENT IN TU NE ITA NO. 1575/HYD/2018 :- 2 -: WITH FORM(S)-3 ISSUED UNDER THE SCHEME, THIS APPEAL M AY NOT BE DISMISSED AS WITHDRAWN AS ON DATE. WE FIND NO MER IT IN ASSESSEES CONTENTIONS PER SE. THE FACT REMAINS THAT THE ASSESSEE HAS ALREADY BEEN ISSUED FORM(S)-3, NO PURP OSE WOULD BE SERVED IF THIS CASE IS KEPT PENDING. WE THEREFORE O RDER THAT THIS APPEAL BE TREATED AS DISMISSED AS WITHDRAWN WITH A RIDER THAT IT SHALL BE VERY MUCH OPEN FOR THE ASSESSEE TO FILE FOR REVIVAL OF THIS CASE, IF THE SETTLEMENT BENEFIT UNDER THE SCHEME IS DENIED TO IT FOR TECHNICAL REASONS. 4. THIS ASSESSEES APPEAL IS DISMISSED AS WITHDRAWN IN ABOVE TERMS. ORDER PRONOUNCED IN THE OPEN COURT ON 25 TH FEBRUARY, 2021 SD/- SD/- (LAXMI PRASAD SAHU) (S.S.G ODARA) ACCOUNTANT MEMBER JUDICIAL MEM BER HYDERABAD, DATED: 25-02-2021 TNMM ITA NO. 1575/HYD/2018 :- 3 -: COPY TO : 1.VENKAT HOMES PRIVATE LIMITED, C/O.M/S.MAHESH, VIRENDER & SRIRAM, CHARTERED ACCOUNTANTS, 6-3-788/3 6 & 37A, AMEER PET, HYDERABAD. 2.THE INCOME TAX OFFICER, WARD-17(3), HYDERABAD. 3.CIT(APPEALS)-5, HYDERABAD. 4.PR.CIT-5, HYDERABAD. 5.D.R. ITAT, HYDERABAD. 6.GUARD FILE.