KHYALILAL D JAIN (HUF), Mumbai V. ITO 27(2)(1), Mumbai

ITA 1962/MUM/2019

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 8173 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 9 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-01-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: H
• Assessment Year: 2014-2015
• Appeal Filed On: 04-04-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: GURBINDER SINGH
• Keywords: Question of law; Competent authority; Condonation of delay
• Section: 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL (V I RTUAL COURT) , H BENCH MUMBAI BEFORE SHRI M.BALAGANESH, AM & SHRI PAVAN KUMAR GADALE , JM ITA NO. 1962 /MUM/ 20 19 ( ASSESSMENT YEAR : 201 4 - 1 5 ) KHAYALILAL D. JAIN (HUF) SHOP NO.2, SAPNA APARTME NT LBS MARG, GHATKOPAR (W) MUMBAI 400 086 VS. ITO 27(2)(1) TOWER NO.6, ROOM NO.413 VASHI RAILWAY STATION COMPLEX, VASHI NAVI MUMBAI PAN/GIR NO. AADHK4898R (APPELLANT ) .. (RESPONDENT ) ASSESSEE BY NONE REVENUE BY SHRI GURBINDER SINGH DATE OF HEA RING 11 / 01 /202 1 DATE OF PRONOUNCEMENT 11 / 01 /202 1 / O R D E R PER M. BALAGANESH (A.M) : THIS APPEAL IN ITA NO. 1962/MUM/2019 FOR A.Y. 2014 - 15 ARISES OUT OF THE ORDER BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 25, MUMBAI IN APPEAL N O. CIT(A) - 25/IT - 54/2017 - 18 DATED 16/01/2019 (LD. CIT(A) IN SHORT) IN THE MATTER OF IMPOSITION OF PENALTY U/S.271(1)(C) OF THE INCOME TAX ACT, 1961. NONE APPEARED ON BEHALF OF THE ASSESSEE ITA NO . 1962/MUM/2019 KHAYALILAL D. JAIN (HUF) 2 2. WE FIND THAT LD. AR FILED A LETTER DATED 20/10/2020 MENTIONING T HAT ASSESSEE HAD PREFERRED TO OPT FOR DIRECT TAX VIVAD SE VISHWAS SCHEME - 2020 AND ASSESSEE HAS ALREADY FILED FORM NO.1 ON 20 / 03 /2020. 3. WE HAVE HEARD RIVAL SUBMISSIONS AND PERUSED THE MATERIALS AVAILABLE ON RECORD. SINCE, THE ASSESSEE HAD ALREADY FILED AN APPLICATION UNDER DIRECT TAX VIVAD SE VISWAS SCHEME ACT 2020 , THERE IS NO NEED TO KEEP THE APPEAL PENDING BEFORE US IN VIEW OF THE DECISION OF HON'BLE MADRAS HIGH COURT IN THE CASE OF NANNUSAMY MOHAN (HUF) VS. ACIT IN T.C.A. NO.372 OF 2020 DATED 16.10 .2020, WHEREIN THE HONBLE HIGH COURT AFTER CONSIDERING THE INTENTION OF THE ASSESSEE TO AVAIL THE BENEFIT OF VIVAD SE VISHWAS SCHEME - 2020 (VSV SCHEME), HAD DISMISSED THE APPEAL BY OBS ERVING IN PARA 7 TO 9 AS UNDER: - 7. AS OBSERVED, THE ASSESSEE IS GIVE N LIBERTY TO RESTORE THIS APPEAL IN THE EVENT THE ULTIMATE DECISION TO BE TAKEN ON THE DECLARATION TO BE FILED BY THE ASSESSEE UNDER SECTION 4 OF THE SAID ACT IS NOT IN FAVOUR OF THE ASSESSEE. IF SUCH A PRAYER IS MADE, THE REGISTRY SHALL ENTERTAIN THE PRAY ER WITHOUT INSISTING UPON ANY APPLICATION TO BE FILED FOR CONDONATION OF DELAY IN RESTORATION OF THE APPEAL AND ON SUCH REQUEST MADE BY THE ASSESSEE BY FILING A MISCELLANEOUS PETITION FOR RESTORATION, THE REGISTRY SHALL PLACE SUCH PETITION BEFORE THE DIVIS ION BENCH FOR ORDERS. 8. IN THE LIGHT OF THE ABOVE, WE DIRECT THE APPELLANT/ ASSESSEE TO FILE THE FORM NO.I ON OR BEFORE 20.11.2020 AND THE COMPETENT AUTHORITY SHALL PROCESS THE APPLICATION/ DECLARATION IN ACCORDANCE WITH THE ACT AND PASS APPROPRIATE ORDER S AS EXPEDITIOUSLY AS POSSIBLE PREFERABLY WITHIN A PERIOD OF 6 (6) WEEKS FROM THE DATE ON WHICH THE DECLARATION IS FILED IN THE PROPER FORM. 9. WITH THIS DECLARATION, THE TAX CASE APPEAL STANDS DISPOSED OF WITH THE AFOREMENTIONED LIBERTY AND CONSEQUENTLY THE SUBSTANTIAL QUESTION OF LAW ARE LEFT UPON. NO COSTS. 4. IN THE LIGHT OF THE VIEW TAKEN BY HONBLE MADRAS HIGH COURT CITED (SUPRA), WE ALSO GIVE LIBERTY TO THE ASSESSEE TO GET THE APPEAL RESTORED IN ITA NO . 1962/MUM/2019 KHAYALILAL D. JAIN (HUF) 3 THE EVENT THAT THE ASSESSEE DOES NOT SUCCEED ON THE DECLARATION FILED BY THE ASSESSEE UNDER DIRECT TAX VIVAD SE VISWAS SCHEME - 2020. IN OTHER WORDS IF THE ASSESSEES DECLARATION FILED IS NOT ACCEPTED BY THE REVENUE FOR ANY REASON WHATSOEVER, THE ASSESSEE CAN MAKE A PRAYER BEFORE THE BENCH FOR RECALLING OF THE ORDER BY FILING A MISCELLANEOUS APPLICATION FOR RESTORATION OF APPEAL. THE REGISTRY WILL PLACE SUCH PETITION BEFORE THE BENCH CONCERNED. 5. IN VIEW OF THE AFORESAID OBSERVATIONS, WE DISMISS TH IS APPEAL WITH A LIBERTY TO GET IT RECALLED IN THE EVENTUALI TY OF ASSESSEES DECLARATION NOT GETTING ACCEPTED BY THE REVENUE. 6. IN THE RESULT, APPEAL OF THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED ON 11 / 01 /202 1 BY WAY OF PROPER MENTIONING IN THE NOTICE BOARD. SD/ - ( PAV AN KUMAR GADALE ) SD/ - (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED 11 / 01 / 2021 KARUNA , SR.PS ITA NO . 1962/MUM/2019 KHAYALILAL D. JAIN (HUF) 4 COPY OF THE ORDER FORWARDED TO : BY ORDER, ( ASSTT. REGISTRAR) ITAT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//