GEOMETRIC LTD, MUMBAI V. DCIT RG 14(1)(1), MUMBAI

ITA 1594/MUM/2016

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 3546 (ITAT-MUMBAI)
• Duration Of Justice: 4 year(s) 10 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: K
• Assessment Year: 2011-2012
• Appeal Filed On: 21-03-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 143(3); 144C; 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL K BENCH, MUMBAI BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER AND SHRI S. RIFA UR RAHMAN, ACCOUNTANT MEMBER IT A NO. 1594/MUM./2016 ( ASSESSMENT YEAR : 20 11 12 ) GEOMETRIC LTD. C/O M/S. KALYANIWALLA & MISTRY , 3 RD FLOOR, ARMY & NAVY BUILDING 148, M.G. ROAD, FOR, MUMAI 400 001 PAN AABCG0066A . APPELLANT V/S DY. COMMISSIONER OF INCOME TAX RANGE 1 4 (1)(1), MUMBAI . RESPONDENT ITA NO. 1916/MUM./2016 ( ASSESSMENT YEAR : 20 11 12 ) ASSTT . COMMISSIONER OF INCOME TAX RANGE 14(1)(2), MUMBAI . APPELLANT V/S GEOMETRIC LTD. C/O M/S. KALYANIWALLA & MISTRY, 3 RD FLOOR, ARMY & NAVY BUILDING 148, M.G. ROAD, FOR, MUMAI 400 001 . RESPONDENT PAN AABCG0066A IT (TP) A NO. 1140/MUM./2017 ( ASSESSMENT YEAR : 20 12 13 ) GEOMETRIC LTD. C/O M/S. KALYANIWALLA & MISTRY, 3 RD FLOOR, ARMY & NAVY BUILDING 148, M.G. ROAD, FOR, MUMAI 400 001 . APPELLANT V/S DY. COMMISSIONER OF INCOME TAX RANGE 14(1)(1), MUMBAI . RESPONDENT PAN AABCG0066A ASSESSEE BY : SHRI NAYAN THAKKAR REVENUE BY : SHRI SUSHIL KUMAR MISHRA DATE OF HEARING 17 .0 2 .202 1 DATE OF ORDER 19.02.2021 2 AL GHURAIR CONSTRUCTION FOUNDATIONS INDIA PVT. LTD. O R D E R PER S. RIFAUR RAHMAN, A.M. THE AFORESAID CROSS APPEALS ARE FOR THE ASSESSMENT YEAR 2011 12 WHICH HAVE BEEN FILED CHALLENGING THE DRAFT ASSESSMENT ORDER DATED 26 TH MARCH 2015, AND ANOTHER APPEAL FILED BY THE ASSESSEE WHICH IS FOR THE ASSESSMENT YEAR 2012 13, CHALLENGING THE DRAFT ASSESSMENT ORDER DATED 21 ST MARCH 2016, PASSED UNDER SECTION 144C R/W SECTION 143(3) OF T HE INCOME TAX ACT, 1961 (FOR SHORT 'THE ACT' ) IN PURSUANCE TO THE DIRECTIONS OF THE DISPUTE RESOLUTION PANEL I (DRP), MUMBAI. 2. DURING THE COURSE OF HEARING, WE FIND THAT T HE ASSESSEE HAS FILED A LETTER DATED 16 TH FEBRUARY 2021, BEFORE THE REGISTRY OF THE TRIBUNAL SEEKING WITHDRAWAL OF THE APPEAL IN VIEW OF THE FACT THAT THE ASSESSEE HAS APPLIED FOR SETTLING THE TAX DISPUTE UNDER THE VIVAD SE VISHWAS TAX SCHEME, 2020. THE LETTER SUBMITTED BY THE ASSESSEE IS ACCOMPANIED BY THE ACKN OWLEDGEMENT IN FORM I AND II OF THE DECLARATION FILED UNDER THE AFORESAID SCHEME. THE AFORESAID LETTER AND THE DECLARATIONS ARE KEPT ON RECORD. 3. THE LEARNED DEPARTMENTAL REPRESENTATIVE HAS NO OBJECTION FOR WITHDRAWAL OF THE APPEAL BY THE ASSESSEE. 3 AL GHURAIR CONSTRUCTION FOUNDATIONS INDIA PVT. LTD. 4. HEARD THE LEARNED COUNSEL FOR BOTH THE PARTIES AND PERUSED MATERIAL ON RECORD. CONSIDERING THE FACT THAT THE ASSESSEE HAS SOUGHT WITHDRAWAL OF THE PRESENT APPEAL S , AS IT HAS APPLIED FOR SETTLING THE DISPUTE UNDER VIVAD SE VISHWAS SCHEME, 2020, WE PERMIT THE ASSE SSEE TO WITHDRAW THE APPEAL S AT THIS STAGE. HOWEVER, LIBERTY IS GRANTED TO THE ASSESSEE TO SEEK RESTORATION OF TH E S E APPEAL S IN THE EVENT THE APPLICATION FILED UNDER VIVAD SE VISHWAS TAX SCHEME IS NOT ACCEPTED BY THE DEPARTMENT. IT IS FURTHER MADE CLEAR TH AT IN SUCH EVENTUALITY IF THE ASSESSEE SEEKS RESTORATION OF THE PRESENT APPEAL S BY FILING MISC. APPLICATION, THE DELAY, IF ANY, SHOULD BE CONDONED WITHOUT INSISTING UPON FILING ANY APPLICATION FOR CONDONATION OF DELAY. THIS IS IN VIEW OF THE DECISION OF TH E HONBLE MADRAS HIGH COURT IN ORDER DATED 16 TH OCTOBER 2020, DELIVERED IN M/S. NANNUSAMY MOHAN (HUF) V/S ACIT, TCA NO.372 OF 2020. WITH THE AFORESAID OBSERVATIONS, THE APPEAL S ARE DISMISSED AS WITHDRAWN. 5. IN THE RESULT, APPEAL S ARE DISMISSED IN TERMS INDI CATED ABOVE. ORDER PRONOUNCED IN THE OPEN COURT ON 19.02.2021 SD/ - VIKAS AWASTHI JUDICIAL MEMBER SD/ - S. RIFAUR RAHMAN JUDICIAL MEMBER MUMBAI, DATED: 19.02.2021 4 AL GHURAIR CONSTRUCTION FOUNDATIONS INDIA PVT. LTD. COPY OF THE ORDER FORWARDED TO : (1) THE ASSESSEE; (2) THE REVENUE; (3) THE CIT(A); (4) THE CIT, MUMBAI CITY CONCERNED; (5) THE DR, ITAT, MUMBAI; (6) GUARD FILE . TRUE COPY BY ORDER PRADEEP J. CHOWDHURY SR. PRIVATE SECRETARY ASSISTANT REGISTRAR ITAT, MUMBAI