Mangatrai Gems, Hyderabad V. Dy. Commissioner of Income Tax, Circle-6(1), Hyderabad

ITA 1740/Hyd/2017

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 1970 (ITAT-HYDERABAD)
• Duration Of Justice: 3 year(s) 1 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-12-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-A
• Next Hearing Date: 03-12-2020
• Assessment Year: 2007-2008
• Appeal Filed On: 13-10-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD SMC - A BENCH : HYDERABAD (THROUGH VIDEO CONFERENC E ) BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER ITA NO. 1 740 /HYD./201 7 ASSESSMENT YEAR: 20 0 7 - 08 M/S MANGAT RAI GEMS VS. DCIT, CIRCLE 6(1) HYDERABAD HYDERABAD PAN: AA MFM1044L (APPELLANT) (RESPONDENT) FOR ASSESSEE : SH. K.C.DEVDAS, ADV. FOR REVENUE : SH. SUNIL KUMAR PANDEY, D.R. DATE OF HEARING : 03 / 12 /2020 DATE OF PRONOUNCEMENT : 03 / 12 /2020 O R D E R THIS IS ASSESSEES APPEAL FILED AGAINST THE ORDER OF CIT(A) - 6 , HYDERABAD DATED 0 4.04.2017 RELATING TO A.Y. 200 7 - 08 PASSED U/S 143(3) R.W.S. 147 OF THE INCOME TAX ACT, 1961. THIS APPEAL WAS TAKEN UP FOR HEARING THROUGH VIDEO CONFERENCE ON 03.12.2020 AND BOTH THE PARTIES WERE HEARD. 2. THE LD.AR FOR THE ASSESSEE HAS SUBMITTED WITHDRAWAL APPLICATION DATED 03.12.2020 STATING THAT THE ASSESSEE HAS OPTED TO SETTLE THE DISPUTE RELATING TO THE TAX ARREARS FOR THE A.Y. UNDER CONSIDERATION UNDER VIVAD SE VISHWAS SCHEME, 2020 . HE FURTHER S UBMITTED THAT AN APPLICATION TO THIS EFFECT HAS BEEN FILED BY THE ASSESSEE AND THAT THE ASSESSEE HAS ALSO RECEIVED FORM - 3. 3. THE LD.DR HAS NO OBJECTION TO THE SAME. ITA NO. 1740 /HYD./201 7 MANGATRAI GEMS A.Y. 20 0 7 - 08 2 4. IN VIEW OF THE ABOVE, THE REQUEST OF THE ASSESSEE FOR WITHDRAWAL OF THE APPEAL AS PR.CIT HAS ISSUED FORM - 3 IS ACCEPTED. 5. HOWEVER, THE AFORESAID IS SUBJECT TO A CAVEAT THAT IN CASE THE DISPUTE RELATING TO TAX ARREARS FOR THE CAPTIONED A.Y. IS NOT ULTIMATELY RESOLVED IN TERMS OF THE AFORE - STATED ACT, THE APPELLANT (I.E. THE ASSESSEE) I S AT LIBERTY TO APPROACH THE TRIBUNAL FOR REINSTITUTION OF THE APPEAL AND THE TRIBUNAL SHALL CONSIDER SUCH APPLICATION APPROPRIATE AS PER LAW. THE LD.DR FOR THE REVENUE HAS NO OBJECTION WITH REGARD TO THE AFORESAID CAVEAT. 6. IN THE RESULT, THE APPEAL O F THE ASSESSEE IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN OPEN COURT ON 03/ 12/ 2020. SD/ - (P. MADHAVI DEVI) JUDICIAL MEMBER DATED: 03 RD DECEMBER, 2020 GMV COPY OF ORDER FORWARDED TO: 1. MANGAT RAI GEMS, 6 - 3 - 883/8, PUNJAGUTTA, HYDERABAD 500 020 . 2. DCIT, CIRCLE 6(1), HYDERABAD . 3. CIT( A ) - 6 , HYDERABAD. 4. ACIT, RANGE 6 , HYDERABAD 5 . PR.CIT - 6 , HYDERABAD 6 D.R. ITAT HYDERABAD 7 . GUARD FILE