SGD Pharma India Limited (Formerly known as cognet Glass Limited), Mahabubnagar V. Dy. Commissioner of Income Tax , Circle-1(2), Hyderabad

ITA 1771/Hyd/2018

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 4946 (ITAT-HYDERABAD)
• Duration Of Justice: 2 year(s) 5 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-B
• Assessment Year: 2014-2015
• Appeal Filed On: 31-08-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: LAXMINIVAS SHARMA
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B , HYDERABAD (THROUGH VIRTUAL HEARING) BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ITA NO. 1771/HYD/2018 ASSESSMENT YEAR: 2014 - 15 SGD PHARMA INDIA LIMITED (FORMERLY KNOWN AS COGENT GLASS LIMITED), SY.NO. 266, VEMULA VILLAGE, ADDAKAL MANDAL, MAHABUB NAGAR DISTRICT 509380. PAN: AADCC 7815 K VS. DCIT, CIRCLE - 1(2), HYDERABAD. (APPELLANT) (RESPONDENT) ASSESSEE BY: SHRI LAXMINIVAS SHARMA REVENUE BY: SHRI ROHIT MUJUMDAR, DR DATE OF HEARING: 04/02/2021 DATE OF PRONOUNCEMENT: 05 /02/2021 ORDER PER A. MOHAN ALANKAMONY , A.M: THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LD. CIT(A) - 1, HYDERABAD IN APPEAL NO. 0349/CIT(A) - 1/HYD/2016 - 17/2018 - 19, DATED 20/06/2018 PASSED U/S. 143(3) R.W.S. 250(6) OF THE ACT FOR THE A.Y. 2014 - 15. 2 2. AT THE OUTSET, LD.AR SUBMITTED BEFORE US THAT THE ASSESSEE DESIRE S TO WITHDRAW ITS APPEAL AS THE ASSESSEE HAS O PTED TO AVAIL VIVAD SE VISWAS SCHEME. HE FURTHER SUBMITTED THAT THE ASSESSEE HA D FILED FORM NO.1 & 2 AND IS AWAITING TO RECEIVE FORM - 3 FROM THE REVENUE. IT WAS THEREFORE PLEADED, THAT THE APPEAL OF THE ASSESSEE MAY BE ALLOWED TO BE WITHDRAWN. 3. THE L D. DR CONCEDED TO THE REQUEST OF THE LD.AR. 4 . HAVING HEARD BOTH THE PARTIES THROUGH VIDEO CONFERENCE, W E ARE INCLINED TO ALLO W THE APPEAL OF THE ASSESSEE TO BE WITHDRAWN YIELDING TO THE PRAYER OF THE LD. A R AS THE ASSESSEE HAS PREFERRED TO AVAIL THE VIVA D - SE - VISHWAS SCHEME BY FILING FORM NO.1 & 2 AND IS AWAITING TO RECEIVE FORM - 3 FROM THE REVENUE . THE LD. DR HAS ALSO CONCEDED TO THE REQUEST OF THE LD. AR. A CCORDINGLY, WE HEREBY DISMISS THE APPEAL OF THE ASSESSEE AS WITHDRAWN. HOWEVER, WE ALSO MAKE IT CLEAR THAT, IF THE ASSESSEE S CASE IS NOT ACCEPTED IN THE VIVAD - SE - VIS H WAS SCHEME BY THE REVENUE FOR WHATSOEVER MAY BE THE REASON, THEN THE ASSESSEE SHALL BE AT LIBERTY TO FILE A MISCELLANEOUS PETITION BEFORE THE TRIBUNAL WITHIN THE TIME LIMIT PRESCRIBED U NDER THE ACT TO REINSTATE THE APPEAL. IT IS ORDERED ACCORDINGLY. 3 PRONOUNCED IN THE OPEN COURT ON THE FIFTH DAY OF FEBRUARY, 2021. SD/ - SD/ - (SMT. P. MADHAVI DEVI) ( A. MOHAN ALANKAMONY ) JUDICIAL MEMBER ACCOUNTANT MEMBER HYDERABAD, DATED: 05 TH FEBRUARY, 2021. OKK COPY TO: - 1) SGD PHARMA INDIA LIMITED (FORMERLY KNOWN AS COGENT GLASS LIMITED), SY. NO. 266, VEMULA VILLAGE, ADDAKAL MANDAL, MAHABUB NAGAR DISTRICT 509380. 2) THE DCIT, CIRCLE - 1(2), HYDERABAD. 3) THE CIT(A) - 1 , HYDERABAD . 4) THE PR. CIT - 1 , HYDERABAD. 5) THE DR, ITAT, HYDERABAD 6) GUARD FILE