Krishna Developers, Vadodara V. The Income Tax Officer, Ward-5(2), Baroda

ITA 1686/AHD/2016

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 5747 (ITAT-AHMEDABAD)
• Duration Of Justice: 4 year(s) 7 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2004-2005
• Appeal Filed On: 20-06-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 143(3); 5(2)

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL , D BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT AT AHMEDABAD) BEFORE SHRI RAJPAL YADAV , VICE PRESIDENT AND SHRI WASEEM AHMED , ACCOUNTANT MEMBER ./ ITA NO. 1686/AHD/2016 / ASSTT. YEAR: 2004 - 2005 KRISHNA DEVELOPERS , 404 & 406, EARTH COMPLEX, OPP. VACCINE INSTITUTE , NEAR MALHAR POINT , VADODARA - 390007 . PAN : AAFFK3301H VS. INCOME TAX OFFICER , WARD 5(2) , BARODA . (APPLICANT) ( RESPON D ENT ) ASSESSEE BY : SHRI MUKUND BAKSHI , A.R REVENUE BY : SHRI MOHD USMAN, CIT .D. R / DATE OF HEARING : 0 3 / 02 / 2021 / DATE OF PRONOUNCEMENT: 04 / 02 /2021 / O R D E R PER WASEEM AHMED, ACCOUNTANT MEMBER: THE CAPTIONED APPEAL HAS BEEN FILED AT THE INSTANCE OF THE ASSESSEE A GAINST THE ORDER OF THE LEARNED COMM ISSIONER OF INCOME TAX (APPEALS) - 1 , VADODARA , DATED 17/03/2016 ARISING IN THE MATTER OF ASSESSMENT ORDER PASSED UNDER S. 143(3) R.W.S 254 OF THE INCOME TAX ACT, 1961 ( HERE - IN - AFTER REFERRED TO AS 'THE ACT') RELEVANT TO THE ASSESSMENT YEAR 2004 - 20 05 . ITA NO.1686/AHD/2016 ASSTT. YEAR 2004 - 05 2 2. WHEN THE CASE WAS CALLED FOR HEARING, THE LD.COUNSEL FOR THE ASSESS EE FILED AN APPLICATION DATED 03/02 /2021 SEEKING ADJOURNMENT ON THE GROUND THAT ASSESSEE IS LOOKING FOR AVAILING BENEFIT UNDER VIVAD SE VISHWAS ( VSV ). HE SUBMITTED THAT OWING TO THIS FACT THAT APPLICATION FOR EXERCISE OF OPTION F OR AVAILING VIVAD SE VISHWAS SCHEME IS UNDER PROCESS AND IT DOES NOT WANT TO PURSUE IT S APPEAL, ASSESSEE MAY BE PERMITTED TO WITHDRAW ITS APPEAL. 3. THE LD.DEPARTMENTAL REPRESENTATIVE FOR THE REVENUE STATED THAT HE HAS NO OBJECTION FOR WITHDRAWAL OF THE APPEAL BY THE ASSESSEE, IN THE CIRCUMSTANCES NARRATED ON BEHALF OF THE ASSESSEE. 4. IN THE LIGHT OF ABOVE SUBMISSION OF BOTH THE PARTIES APPEAL FILED BY THE ASSESSEE STAND DISMISSED AS WITHDRAWN. HOWEVER, IN THE EVENT, THE ASSESSEE FAILS TO AVAIL THE BEN EFIT OF VSV SCHEME FOR ANY BONAFIDE REASON, THEN THE ASSESSEE WILL BE AT LIBERTY TO SEEK RESTORATION OF ORIGINAL APPEAL FOR ADJUDICATION BEFORE ITAT IN ACCORDANCE WITH LAW. 5. IN THE RESULT , THE APPEAL FILED BY THE ASSESSEE IS DISMISSED AS BEING WITHDRAWN UNDER VSV SCHEME . O RDER PRONOUNCED IN THE COURT ON 04 /02 / 2021 AT AHMEDABAD. SD/ - SD/ - (RAJPAL YADAV ) (WASEEM AHMED) VICE PRESIDENT ACCOUNTANT MEMBER (TRUE COPY) A HMEDABAD; DATED 04 / 02 /2021 M ANISH