INDIGO FLAVOURS PVT. LTD., MUMBAI V. ACIT 1 (2)(1), MUMBAI

ITA 19/MUM/2019

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 0722 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 11 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-12-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2015-2016
• Appeal Filed On: 02-01-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: JAS SANGHVI
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH C MUMBAI BEFORE SHRI VIKAS AWASTHY (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) ITA NO. 19/MUM/2019 ASSESSMENT YEAR: 2015-16 M/S INDIGO FLAVOURS PRIVATE LIMITED, 104, MHATRE PEN BUILDING, C- WING, SENAPATI BAPAT MARG, DADAR (W), MUMBAI-400028. VS. ASST. CIT 1(2)(1), ROOM NO. 535, M.K. ROAD, AAYAKAR BHAVAN, MUMBAI-400020. PAN NO. AABCI 2361 J APPELLANT RESPONDENT ASSESSEE BY : MR. JAS SANGHVI, AR REVENUE BY : MS. SHREEKALA PARDESHI, DR DATE OF HEARING : 22/12/2020 DATE OF PRONOUNCEMENT : 22/12/2020 ORDER PER N.K. PRADHAN, A.M. THIS IS AN APPEAL FILED BY THE ASSESSEE. THE RELEVA NT ASSESSMENT YEAR IS 2015-16. THE APPEAL IS DIRECTED AGAINST THE ORDER O F THE COMMISSIONER OF INCOME TAX (APPEALS)-2, MUMBAI [IN SHORT CIT(A)] AND ARISES OUT OF THE ASSESSMENT COMPLETED U/S 143(3) THE INCOME TAX ACT 1961, (THE ACT). 2. THE LD. COUNSEL FOR THE APPELLANT SUBMITS THAT T HE ASSESSEE HAS FILED NECESSARY DECLARATION UNDER DIRECT TAX VIVAD SE VI SHWAS ACT, 2020 (IN SHORT VSV ACT). IT IS FURTHER STATED THAT THE ASS ESSEE MAY BE ALLOWED TO ITA NO. 19/MUM/2019 M/S INDIGO FLAVOURS 2 WITHDRAW THE ABOVE APPEAL WITH LIBERTY TO RESTORE T HE SAME, IN THE EVENT, THE DECLARATION IS REJECTED BY THE DESIGNATED AUTHORITY . THE LD. DR HAS NO OBJECTION TO THE ABOVE. 3. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE RELEVANT MATERIALS ON RECORD. THE GOVERNMENT OF INDIA ENACTE D THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 (ACT NO. 3 OF 2020) TO PROVIDE FOR RESOLUTION OF DISPUTED TAX AND FOR MATTER CONNECTED THEREWITH OR INCIDENTAL THERETO. THE ACT OF THE PARLIAMENT RECEIVED THE ASSENT OF THE PR ESIDENT ON 17.03.2020 AND PUBLISHED IN THE GAZETTE OF INDIA ON 17.03.2020. IN TERMS OF THE SAID ACT, THE ASSESSEE HAS BEEN GIVEN AN OPTION TO PUT AN END TO THE TAX DISPUTES, WHICH MAY BE PENDING AT DIFFERENT LEVELS EITHER BEFORE TH E FIRST APPELLATE AUTHORITY OR BEFORE THE TRIBUNAL OR BEFORE THE HIGH COURT OR BEFORE THE SUPREME COURT OF INDIA. CONSIDERING THE SUBMISSIONS OF THE LD. COUNSELS APP EARING FOR THE PARTIES AND KEEPING IN VIEW THE DECISION OF THE HON BLE MADRAS HIGH COURT IN THE CASE OF M/S NANNUSAMY MOHAN (HUF) V. ACIT (TCA NO. 372 OF 2020, ORDER DATED 16.10.2020), WE ARE INCLINED TO DISMISS THIS APPEAL AS WITHDRAWN. HOWEVER, LIBERTY IS GRANTED TO THE ASSES SEE TO SEEK THE RESTORATION OF THIS APPEAL IN THE EVENT THE DECLARA TION FILED UNDER THE AFORESAID ACT IS NOT ACCEPTED BY THE DEPARTMENT. IT IS FURTHER MADE CLEAR, IN SUCH EVENTUALITY, IF THE ASSESSEE SEEKS RESTORATION OF THIS APPEAL BY FILING MISCELLANEOUS APPLICATION, THE DELAY IF ANY WOULD B E CONDONED WITHOUT INSISTING UPON FILING ANY APPLICATION FOR CONDONATI ON OF DELAY. ITA NO. 19/MUM/2019 M/S INDIGO FLAVOURS 3 4. IN THE RESULT, THE APPEAL IS DISMISSED AS WITHDR AWN, SUBJECT TO THE OBSERVATION ABOVE. ORDER PRONOUNCED IN THE OPEN COURT ON 22/12/2020. SD/- SD/- (VIKAS AWASTHY) ( N.K. PRADHAN) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI; DATED: 22/12/2020 RAHUL SHARMA, SR. P.S. 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