SUN TAN TRADING CO. LTD, MUMBAI V. ASST CIT 1(3), MUMBAI

ITA 1962/MUM/2014

• Counselvise Citation: [2016] 131 COUNSELVISE.COM (IT) 2623 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 6 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-09-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: E
• Assessment Year: 2010-2011
• Appeal Filed On: 21-03-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: CAPTAIN PRADEEP ARYA
• Assessee Lawyers: ATUL H MEHTA
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES E, MUMBAI BEFORE SHRI B.R.BASKARAN (AM) AND SHRI RAM LAL NEGI ( JM) ITA NO 1962/MUM/2014 ASSESSMENT YEAR: 2010-11 SUN TAN TRADING CO. LTD., C/O. GIINERS & PRESSERS LTD., ORIENTAL HOUSE, 5 TH FLOOR, 7, J. TATA ROAD, CHURCHGATE, MUMBAI- 400 020. PAN:- AACCS2091L VS. THE ACIT 1(3), AAYAKAR BHAVAN, M.K.ROAD, MUMBAI 400 020. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI. ATUL H.MEHTA. RESPONDENT BY : CAPTAIN PRADEEP ARYA DATE OF HEARING: 2 9 /09 / 2016 DATE OF PRONOUNCEMENT: 29/09/20 16 O R D E R PER RAM LAL NEGI, JM THIS APPEAL HAS BEEN PREFERRED BY THE ASSESS EE AGAINST ORDER DATED 24/10/2013 PASSED BY THE LD. CIT(APPEALS)-2 MUMBAI FOR THE ASST. YEAR 2010- 11, WHEREBY THE LD. CIT(A) PARTLY ALLOWED THE APPEA L FILED BY THE ASSESSEE AGAINST ASSESSMENT ORDER PASSED U/S 143(3) OF THE I NCOME TAX ACT, 1961 (IN SHORT THE ACT). 2. AT THE OUTSET, THE LD. COUNSEL FOR THE ASSESSEE SUBMITTED AN APPLICATION DULY SIGNED BY SHRI. N.T. KILACHAND, MANAGING DIREC TOR, SEEKING PERMISSION TO WITHDRAW THE PRESENT APPEAL, THE RELEVANT PORTION O F WHICH READS AS UNDER:- 2 ITA NO 1962/MUM/2014 ASSESSMENT YEAR: 2010-11 THE APPELLANT HAD DEPOSITED RS. 60 CRORES AS ADVAN CE ON WITHOUT PREJUDICE BASIS WITH THE DIRECTORATE OF REVENUE INT ELLIGENCE (DRI). THE APPELLANT HAD CLAIMED THE SAID AMOUNT OF RS. 60 CRORES TO BE ALLOWED IN THE EVENT A VIEW IS TAKEN BY THE TAX DEP ARTMENT THAT THE SAID AMOUNT SO DEMANDED IS NOT ALLOWABLE IN THE IN WHICH DEMAND IS RAISED, BUT IN THE YEAR OF PAYMENT. THE ASSESSING OFFICER HAS COMPLETED THE ASSESSMENT YEAR 2012-13 ALLOWING CLAIM OF THE APPELLANT IN THE SAID YEAR FO R THE AMOUNT PAID AS PER SETTLEMENT COMMISSION ORDER . 3. THE LD. DR DID NOT HAVE ANY OBJECTION IN ALLOWIN G THE APPLICATION FOR WITHDRAWAL OF THE APPEAL. 4. IN VIEW OF THE WRITTEN SUBMISSION MADE BY THE A PPELLANT, THE APPLICATION IS ALLOWED AND APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAW. ORDER PRONOUNCED IN THE OPEN COURT ON 29 TH SEPTEMBER, 2016 SD/- SD/- ( B.R.BASKARAN ) ( RAM LAL NEGI ) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI; DATED:29/09/2016 3 ITA NO 1962/MUM/2014 ASSESSMENT YEAR: 2010-11 / 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 PRAMILA