Dy. Commissioner of Income Tax , Circle-16(1), Hyderabad V. NMDC Limited, Hyderabad

ITA 1601/Hyd/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 5940 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 5 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-04-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-A
• Assessment Year: 2016-2017
• Appeal Filed On: 01-11-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R. DIPAK
• Assessee Lawyers: LAXMINIWAS SHAR MA
• Section: 143(3); 20

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES A : HYDERABAD (THROUGH VIRTUAL CONFERENCE) BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND LAXMI PRASAD SAHU, ACCOUNTANT MEMBER ITA NO. 1601 /H/20 1 9 A SSESSMENT Y EAR : 20 1 6 - 1 7 DY. COMMISSIONER OF INCOME - TAX, CIRCLE 1 6 ( 1 ), HYDERABAD. VS. NMDC LTD., HYDERABAD. PAN AA ACN 7325 A (APPELLANT) (RESPONDENT) REVENUE BY: SHRI R. DIPAK ASSESSEE BY: SHRI LAXMI NIWAS SHARMA DATE OF HEARING: 2 1 /0 4 /2021 DATE OF PRONOUNCEMENT: 26 / 0 4 /2021 O R D E R PER BENCH: T H IS APPEAL FILED BY THE REVENUE FOR AY 20 1 6 - 1 7 I S DIRECTED AGAINST CIT(A) - 4 , HYDERABADS ORDER DATED 0 8 / 0 8 /201 9 INVOLVING PROCEEDINGS U/S 143(3) OF THE INCOME TAX ACT, 1961 ; IN SHORT THE ACT. 2. AT THE OUTSET, THE LD. DR SUBMITTED THAT SINCE THE ASSESSEE HAS OPTED TO AVAIL THE BENEFIT UNDER THE DIRECT TAX VIVAD SE VISWAS SCHEME - 2020 IN PRESCRIBED FORM NO.1 & 2 , WHICH ARE PLACED ON RECORD AND AWAITING TO RECEIVE ITA NO. 1601 / H YD/ 20 1 9 NMDC LTD. , HYDERABAD. : - 2 - : FORM(S) - 3 , REQUESTED THE BENCH TO PERMIT TO WITHDRAW REVENUES APPEAL. 3 . HAVING REGARD TO THE FACTS AND CIRCUMSTANCES OF THE CASE, WE ARE INCLINED TO DISMISS THE APPEAL OF THE REVENUE AS WITHDRAWN SINCE THE ASSESSEE HAS PREFERRED TO AVAIL THE VIVAD - SE - VISHWAS SCHEME BY FILING FORM NO.1 & 2 AND AWAITING TO RECEIVE FORM(S) - 3 , WITH A RIDER THAT IT SHALL BE VERY MUCH OPEN FOR THE REVENUE TO FILE FOR REVIVAL OF TH IS CASE, IF THE SETTLEMENT BENEFIT UNDER THE SCHEME IS DENIED TO THE ASSESSEE FOR TECHNICAL REASONS. 4 . IN THE RESULT, REVENUE S APPEAL IS DISMISSED IN ABOVE TERMS. PRONOUNCED IN THE OPEN COURT ON 26 TH APRIL , 2021 . SD/ - SD/ - (S . S . GODARA) (L . P . SAHU) JUDICIAL MEMBER ACCOUNTANT MEMBER HYDE RABAD, DATED : 26 TH APRIL , 20 2 1 . KV C OPY TO : 1 DCIT, CIRCLE 1 6 ( 1 ), 1 ST FLOOR, B BLOCK, IT TOWERS, AC GUARDS, MASAB TANK, HYDERAB AD. 2 M/S NMDC LTD., 10 - 3 - 311/A, KHANIJ BHAVAN , CASTLE HILLS, MASAB TANK, HYDERABAD 28 3 CIT(A) 4 , HYDERABAD 4 PR. CIT - 4 , HYDERABAD. 5 ITAT, DR, HYDERABAD 6 GUARD FILE. ITA NO. 1601 / H YD/ 20 1 9 NMDC LTD. , HYDERABAD. : - 3 - : S.NO. DETAILS DATE 1 DRAFT DICTATED ON 2 DRAFT PLACED BEFORE AUTHOR 3 DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER 4 DRAFT DISCUSSED/APPROVED BY SECOND MEMBER 5 APPROVED DRAFT COMES TO THE SR. PS/PS 6 KEPT FOR PRONOUNCEMENT 7 FILE SENT TO BENCH CLERK 8 DATE ON WHICH THE FILE GOES TO HEAD CLERK 9 DATE ON WHICH FILE GOES TO A.R. 10 DATE OF DISPATCH OF ORDER