Deputy Commissioner of Income Tax, Circle-16(2), Hyderabad V. P R Energy Holdings Limited, Hyderabad

ITA 2090/Hyd/2017

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 0454 (ITAT-HYDERABAD)
• Duration Of Justice: 3 year(s) 2 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-03-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-B
• Next Hearing Date: 03-03-2021
• Assessment Year: 2012-2013
• Appeal Filed On: 11-12-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ROHIT MUZUMDAR
• Assessee Lawyers: A V RAGHURAM
• Section: 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD B BENCH : HYDERABAD (THROUGH VIDEO CONFERENC E ) BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ITA NO. 2 090 /HYD./ 2017 ASSESSMENT YEAR: 20 12 - 13 DY.CIT, CIRCLE 16(2) VS. M/S P.R.ENERGY HOLDINGS LTD. HYDERABAD HYDERABAD [ PAN: AA DCP9245L ] (APPELLANT) (RESPONDENT) FOR REVENUE : SH. ROHIT MUZUMDAR, D.R. FOR ASSESSEE : SHRI A.V.RAGHU RAM, A.R. DATE OF HEARING : 03/03/ 202 1 DATE OF PRONOUNCEMENT : 09 / 03 /202 1 O R D E R PER P. MADHAVI DEVI, JM THIS IS REVENUES APPEAL FILED AGAINST THE ORDER OF CIT(A) - 4 , HYDERABAD DATED 0 8 .0 9 .2017 RELATING TO A.Y. 20 12 - 13 . HEARD BOTH THE PARTIES. 2. AT THE OUTSET, WE ARE INFORMED DURING THE COURSE OF HEARING FROM THE REVENUE SIDE THAT THE ASSESSEES HAS FILED FOR SET TLEMENT BENEFIT UNDER DIRECT TAXES VIVAD SE VISHWAS SCHEME, 2020 IN PRESCRIBED FORMS I & II AND ACCEPTANCE IS AWAITED ; THEREFORE REQUESTED TO WITHDRAW THIS APPEAL. ITA NO . 2090 /HYD./ 2017 AY 20 12 - 13 DY.CIT, CIR. 16(2) VS. M/S PR ENERGY HOLDINGS LTD. HYD. 2 3. AFTER HEARING BOTH THE PARTIES, WE DISMISS THE APPEAL OF THE REVENUE AS WITHDRAWN. HOWEVER, WE ALSO MAKE IT CLEAR THAT IT SHALL BE VERY MUCH OPEN FOR THE REVENUE TO FILE FOR REVIVAL OF THIS CASE, IF THE SETTLEMENT BENEFIT UNDER THE SCHEME IS DENIED TO T HE ASSESSEE FOR TECHNICAL REASONS . ORDERED ACCORDINGLY. 4 . IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED AS WITHDRAWN IN ABOVE TERMS. ORDER PRONOUNCED IN OPEN COURT ON 09 /03/2021 . SD/ SD/ - (A. MOHAN ALANKAMONY) (P. MADHAVI DEVI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 09 TH MARCH, 2021 *GMV COPY OF ORDER FORWARDED TO: 1. DY . CIT, CIRCLE 16(2), HYDERABAD 2. P.R. ENERGY HOLDINGS LTD. C/O AV RAGHURAM, CAS, FLAT NO.610, 6 TH FLOOR, BABUKHAN ESTATE, BASHEERBAGH, HYDERABAD 500 001 . 3. ACIT, RANGE 16 , HYDERABAD 4. C IT( A ) - 4 , HYDERABAD . 5 . PR.CIT - 4 , HYDERABAD 6 D.R. ITAT HYDERABAD 7 . GUARD FILE