The ACIT, Circle-2(1)(2), Ahmedabad V. Lincoln Pharmaceuticals Ltd., Ahmedabad

ITA 2123/AHD/2017

• Counselvise Citation: [2021] 104 COUNSELVISE.COM (IT) 8336 (ITAT-AHMEDABAD)
• Duration Of Justice: 4 year(s) 1 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-11-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2010-2011
• Appeal Filed On: 24-09-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: MOHIT BELANI

Judgement Text

आयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरणआयकर अपीलीय अिधकरण आयकर अपीलीय अिधकरण, अहमदाबाद 瀈यायपीठ अहमदाबाद 瀈यायपीठअहमदाबाद 瀈यायपीठ अहमदाबाद 瀈यायपीठ ‘बी’ अहमदाबाद। अहमदाबाद।अहमदाबाद। अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, AHMEDABAD (through web-based video conferencing platform) ] ] BEFORE SHRI RAJPAL YADAV, VICE PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER ITA No. 2123/Ahd/2017 Assessment Years : 2010-11 The Assistant Commissioner of Income-tax, Circle 2(1)(2), Ahmedabad Vs Lincoln Pharmaceuticals Ltd., Lincoln House, B/h. Satyam Complex, Science City Road, Sola, Ahmedabad PAN : AAACL 2711 N अपी अपीअपी अपीलाथ牸 लाथ牸लाथ牸 लाथ牸/ (Appellant) 灹त् 灹त् 灹त् 灹त् यथ牸 यथ牸यथ牸 यथ牸/ (Respondent) Revenue by : Shri R.R. Makwana, Sr DR Assessee by : Shri Mohit Belani, AR सुनवाई क琉 तारीख/Date of Hearing : 10/11/2021 घोषणा क琉 तारीख /Date of Pronouncement: 17/11/2021 आदेश आदेशआदेश आदेश/O R D E R PER RAJPAL YADAV, VICE PRESIDENT : The Revenue is in appeal before the Tribunal against the order of the learned Commissioner of Income-Tax (Appeals)-2, Ahmedabad dated 03.07.2017 passed for Assessment Year 2010-11. 2. We have heard the Learned Representatives of both the parties through video conferencing. Learned Counsel for the assessee, at the outset, submitted that assessee-company has opted to avail the benefits of “Vivad Se Vishwas Scheme, 2020” and also apprised the Bench that the assessee-company has received Form No.5 issued by the Principal Commissioner of Income Tax, Ahmedabad-1 in this regard, which is placed on record, alongwith application dated 08.11.21 for withdrawal of appeal. In view of the above, the assessee has requested for withdrawal of the appeal in order to facilitate settlement of issue under Vivad Se Vishwas Scheme. When we asked the learned Departmental Representative about the factum of resolution of dispute opted by the assessee under the above scheme as averred in the letter, the learned Departmental ITA No. 2123/Ahd/2017 ACIT Vs. Lincoln Pharmaceuticals Ltd AY : 2010-11 2 Representative did not dispute the same, but submitted that in case the assessee fails to avail the benefit, then the Revenue may be given liberty to restore its appeal pending before the Tribunal. 3. We have considered the application of the assessee for withdrawal of the appeal under the Scheme “Vivad se Vishwas 2020”. In the light of aforesaid request made by the assessee, we do not find any reason to keep the appeal pending before the Tribunal, hence, the appeal is dismissed as withdrawn for facilitating the assessee to settle the dispute under Vivad Se Vishwas Scheme. However, in the event, the assessees fail to avail the benefit of “Vivad se Vishwas Scheme” for any bonafide reason, then the Revenue will be at liberty to seek restoration of its original appeal for hearing before the ITAT in accordance with law. 4. In the result, the appeal of the Revenue is dismissed as withdrawn. Order pronounced in the Court on 17 th November 2021 at Ahmedabad. Sd/- Sd/- (WASEEM AHMED) (RAJPAL YADAV) ACCOUNTANT MEMBER VICE-PRESIDENT Ahmedabad, Dated 17/11/2021 *Bt आदेश क琉 灹ितिलिप अ灡ेिषत/Copy of the Order forwarded to : 1. अपीलाथ牸 / The Appellant 2. 灹瀄यथ牸 / The Respondent. 3. संबंिधत आयकर आयु猴 / Concerned CIT 4. आयकर आयु猴)अपील (/ The CIT(A)- 5. िवभागीय 灹ितिनिध ,आयकर अपीलीय अिधकरण/DR,ITAT, Ahmedabad, 6. गाड榁 फाईल /Guard file. आदेशानुसार/ BY ORDER, TRUE COPY सहायक पंजीकार (Asstt. Registrar) आयकर अपीलीय अिधकरण ITAT, Ahmedabad ITA No. 2123/Ahd/2017 ACIT Vs. Lincoln Pharmaceuticals Ltd AY : 2010-11 3 1. Date of dictation- ...16.11.2021...- Vivad Se Vishwas... 2. Date on which the typed draft is placed before the Dictating Member ............... Other member ..................... 3. Date on which the approved draft comes to the Sr.P.S./P.S. - .................. 4. Date on which the fair order is placed before the Dictating Member for Pronouncement ..... 5. Date on which the file goes to the Bench Clerk................... 6. Date on which the file goes to the Head Clerk.................................. 7. The date on which the file goes to the Assistant Registrar for signature on the order..................... 8. Date of Despatch of the Order..................