DCIT 6(2)(1), MUMBAI V. DESTIMONEY ENTERPRISES P.LTD, MUMBAI

ITA 21/MUM/2017

• Counselvise Citation: [2018] 121 COUNSELVISE.COM (IT) 7457 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 3 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-04-2018
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: Not Allotted
• Assessment Year: 2011-2012
• Appeal Filed On: 02-01-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI RAJESH KUMAR , ACCOUNTANT MEMBER ITA NO. 21/MUM./2017 ( ASSESSMENT YEAR : 20 11 12 ) DY. COMMISSIONER OF INCOME TAX CIRCLE 6(2)(1), MUMBAI . APPELLANT V/S M/S. DESTIMONEY ENTERPRISES P. LTD. 5, SAHJEEVAN CHS, N.M. JOSHI MARG NEXT TO YAMAHA SHOWROOM ELPHINSTONE ROAD (WEST) MUMBAI 400 013 AACCD5100F . RESPONDENT ASSESSEE BY : SHRI SANDEEP BHALLA A/W SHRI BHARGAV SELARKA REVENUE BY : SHRI BHUPENDRA KUMAR SINGH DATE OF HEARING 16 . 04 .201 8 DATE OF ORDER 25.04.2018 O R D E R PER SAKTIJIT DEY, J.M. THIS APPEAL BY THE REVENUE IS AGAINST ORDER DATED 20 TH OCTOBER 2016, PASSED BY THE LEARNED COMMISSIONER (APPEALS) 12 , MUMBAI, FOR THE ASSESSMENT YEAR 20 11 12 . 2 . THE ASSESSEE, VIDE LETTER DATED 19 TH MARCH 2018, HAS REQUESTED FOR EARLY HEARING OF APPEAL STATING THEREIN THAT IT HAS INITIATED THE PROCESS OF MEMBERS VOLUNTARILY LIQUIDATION AS PER THE PROVISIONS OF 2 M/S. DESTIMONEY ENTERPRISES P. LTD. COMPANIES ACT, 1956. THEREFORE, THE COMPANY IS DESIROUS OF CLOSING ITS OUTSTANDING TAX MATTERS SO AS TO FACILITATE CO MPLETION OF VOLUNTARY WINDING UP PROCESS IN A TIMELY MANNER. IT IS STATED THAT IN ORDER TO AVOID PROTRACTED LITIGATION, THE ASSESSEE DOES NOT WISH TO DEFEND THE PRESENT APPEAL. AN AFFIDAVIT HAS ALSO BEEN FILED BY SHRI BERJIS DESAI, THE LIQUID ATOR OF THE COMPANY , STATING THAT THE ASSESSEE DOES NOT WISH TO CONTEST THE PRESENT APPEAL. FURTHER, AT THE TIME OF HEARING OF THE APPEAL, THE ASSESSEE THROUGH HIS COUNSEL HAS FILED A WRITTEN SUBMISSION REITERATING ITS STAND NOT TO CONTEST THE APPEAL FILED BY THE DEPARTMENT. 3 . THEREFORE, IN VIEW OF THE FACT THAT THE ASSESSEE DOES NOT WANT TO CONTEST THE APPEAL FILED BY THE REVENUE AND , IN EFFECT , HAS CONCEDED THE GROUNDS RAISED BY THE REVENUE IN THE PRESENT APPEAL, WE SET ASIDE THE ORDER OF THE LEARNED COMMI SSIONER (APPEALS) BY ALLOWING THE GROUNDS RAISED BY THE REVENUE. 4 . IN THE RESULT, REVENUES APPEAL IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 25.04.2018 SD/ - RAJESH KUMAR ACCOUNTANT MEMBER SD/ - SAKTIJIT DEY JUDICIAL MEMBER MUMBAI, DATED: 25.04.2018 3 M/S. DESTIMONEY ENTERPRISES P. LTD. COPY OF THE ORDER FORWARDED TO : ( 1 ) THE ASSESSEE; ( 2 ) THE REVENUE; ( 3 ) THE CIT(A); ( 4 ) THE CIT, MUMBAI CITY CONCERNED; ( 5 ) THE DR, ITAT, MUMBAI; ( 6 ) GUARD FILE . TRUE COPY BY ORDER PRADEEP J. CHOWDHURY SR. PRIVATE SECRETARY (ASSTT. REGISTRAR /SR.P.S ) ITAT, MUMBAI