Appeal details
Counselvise Citation
[2021] 109 COUNSELVISE.COM (IT) 7317 (ITAT-AHMEDABAD)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
2 year(s) 6 month(s) 16 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
21-01-2021
Appeal Filed By
Assessee
Order Result
Dismissed
Bench Allotted
D
Next Hearing Date
22-04-2020
Assessment Year
2014-2015
Appeal Filed On
05-07-2018
Judgement Text
, D IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT) BEFORE SHRI RAJPAL YADAV, VICE-PRESIDENT AND SHRI AMARJIT SINH, ACCOUNTANT MEMBER ITA NO.1630/AHD/2018 / ASSTT.YEAR : 2014-15 LAMBDA THERAPEUTIC RESEARCH LTD. LAMBDA HOUSE OPP: GUJARAT HIGH COURT S.G. HIGHWAY, GOTA AHMEDABAD. PAN : AAACL 4089 R VS. ACIT, CIR.2(1)(2) AHMEDABAD. ( APPLICANT ) ( RESPONENT ) ASSESSEE BY : SHRI TUSHAR HEMANI, SR.ADVOCATE SHRI PARIMAL SINH PARMAR, AR WITHDRAWAL APPLICATION REVENUE BY : SHRI RAJDEEP SINGH, SR.DR / DATE OF HEARING : 21/01/2021 / DATE OF PRONOUNCEMENT: 21/01/2021 !'/ O R D E R PER RAJPAL YADAV, VICE-PRESIDENT: THE ABOVE APPEALS FILED BY THE ASSESSEE ARISES FROM ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) CIT(A)-2, AH MEDABAD DATED 20.6.2018 FOR ASSESSMENT YEAR 2014-15. 2. WHEN THE MATTER WAS CALLED FOR HEARING, IT IS PO INTED OUT TO THE BENCH BY THE ASSESSEES REPRESENTATIVE THAT THE ASS ESSEE DOES NOT WANT TO PURSUE THE ABOVE APPEAL OWING TO THE FACT THAT A N APPLICATION FOR ITA NO.1630 /AHD/2018 2 EXERCISING OF OPTION FOR AVAILING VSV SCHEME IS UND ER PROCESS AND THEREFORE SEEK WITHDRAWAL OF HIS APPEAL. 3. IN THE LIGHT OF THE ABOVE SUBMISSIONS MADE ON BE HALF OF THE ASSESSEE BY ASSESSEES REPRESENTATIVE, APPEAL OF TH E ASSESSEE STANDS DISMISSED AS WITHDRAWN. HOWEVER, IN THE EVENT, THE ASSESSEE FAILS TO AVAIL THE BENEFIT OF VSV SCHEME FOR ANY BONAFIDE REASONS, THEN THE ASSESSEE WILL BE AT LIBERTY TO SEEK RESTORATION OF ORIGINAL APPEAL FOR ADJUDICATION BEFORE ITAT IN ACCORDANCE WITH LAW. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DIS MISSED AS BEING WITHDRAWN UNDER VSV SCHEME. ORDER PRONOUNCED IN THE COURT ON 21 ST JANUARY, 2021 AT AHMEDABAD. S D / - (AMARJIT SINGH) ACCOUNTANT MEMBER S D / - (RAJPAL YADAV) VICE-PRESIDENT
