KSB LTD. (EARLIER KNOWN AS KSB PUMPS LTD) [HEREINAFTER REFERRED TO AS KSB INDIA, MUMBAI V. ASST CIT LTU-1, MUMBAI

ITA 170/MUM/2020

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 9726 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 6 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-07-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: K
• Assessment Year: 2015-2016
• Appeal Filed On: 06-01-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S SUNIL KUMAR MISHRA; FILING FORM
• Section: 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES K , MUMBAI BEFORE SHRI PRAMOD KUMAR , HONBLE VICE PRESIDENT AND SHRI SAKTIJIT DEY , HONBLE JUDICIAL MEMBER ITA NO. 170/MUM/2020 ASSESSMENT Y EAR: 201 5 - 16 KSB LIMITED (EARLIER KN OWN AS KSB PUMPS LIMITED ), MUMBAI - PUNE ROAD, PIMPRI, PUNE - 411018 PAN: AAACK5918J VS. ASSISTANT COMMISSIONER OF INCOME TAX, LTU - 1, 29 TH FLOOR, WORLD TRADE CENTRE - 1, CUFFEE PARADE, MUMBAI - 400005 (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI NIKHIL TIWARI (AR) REVENUE BY : S/ SHRI SUNIL KUMAR MISHRA AND SUNIL DESHPANDE (DR S ) DATE OF HEARING : 15 /07 /202 1 DATE OF PRONOUNCEMENT: 15 / 0 7 /202 1 O R D E R PER SAKTIJI T DEY , JM THIS IS AN APPEAL BY THE ASSESSEE AGAINST THE ASSESSMENT ORDER DATED 31.1 0.2019 PASSED UNDER SECTION 143 (3) R.W.S. 144C(13) OF THE INCOME TAX ACT, 1 961 FOR THE ASSESSMENT YEAR 2015 - 16 IN PURSUANCE TO DIRECTIONS OF DISPUTE RESOLUTION PANEL (DRP). 2. WHEN THE APPEAL WAS TAKEN UP FOR HEARING, NONE APPEARED FOR THE ASSESSEE. HOWEVER, THE ASSESSEE HAS FILED LETTER DATED 14.06.2021 SEEKING WITHDRAWAL OF THE APPEAL AS IT HAS OPTED FOR SETTLING THE DISPUTE ARISING IN THE APPEAL UNDER THE DIRECT TAX VIVA D SE VISHWAS ACT, 2020. IT IS FURTHER STATED , IN 2 ITA NO. 170 / MUM/2020 ASSESSMENT YEAR: 201 5 - 1 6 COMPLIANCE TO FORM - 3 ISS UED BY THE DESIGNATED AUTHORITY, T HE ASSESSEE HAS ALREADY PAID THE TAX DUE AND INTIMATED THE DEPARTMENT BY FILING FORM - 4. 3. THE LEARNED DEPARTMENTAL REPRESENTATIVE HAS NO OBJECTION TO WITHDRAWAL OF THE APPEAL BY THE ASSESSEE. 4. IN VIEW OF THE FACTS DISCUSSED ABOVE AND CONSIDERING ASSESSEES REQUEST, WE PERMIT WITHDRAWAL OF THE PRESENT APPEAL. ACCORDINGLY, APPEAL IS DISMISSED AS WITHDRAWN. 5 . IN THE RESULT, APPEAL IS DI SMISSED . ORDER PRONOUNCED IN THE OPEN COURT ON 15 TH JULY , 2021 . SD/ - SD/ - ( PRAMOD KUMAR ) VICE PRESIDENT (SAKTIJIT DEY) JUDICIAL MEMBER MUMBAI ; DATED: 15 / 07 /202 1 ALINDRA, PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE . / BY ORDER, //TRUE COPY// / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI