Labh Construction & Industries Ltd., Ahmedabad V. ITO, Ward-2(1)(3), Ahmedabad

ITA 2176/AHD/2018

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 7794 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 10 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-09-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2003-2004
• Appeal Filed On: 24-10-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: R R MAKWANA
• Assessee Lawyers: SARKAR SHARMA

Judgement Text

, B IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT) BEFORE SHRI RAJPAL YADAV, VICE-PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER ITA NO.2176/AHD/2018 / ASSTT.YEAR : 2003-04 LABH CONSTRUCTION & INDUSTRIES LTD. 104, SHANTANU OPP: KLASSIC GOLD HOTEL SARDAR PATEL NAGAR ROAD AHMEDABAD 380 009. PAN : AAACL 2648 G VS. ITO, WARD - 2(1)(3) AHMEDABAD. ( APPLICANT ) ( RESPONENT ) ASSESSEE BY : SHRI SARKAR SHARMA, AR REVENUE BY : SHRI R.R.MAKWANA, SR.DR / DATE OF HEARING : 02/09/2021 / DATE OF PRONOUNCEMENT: 03/09/2021 !'/ O R D E R PER RAJPAL YADAV, VICE-PRESIDENT: THE ABOVE APPEAL FILED BY THE ASSESSEE ARISES FROM ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-2, AHMEDABAD D ATED 7.8.2018 FOR ASSESSMENT YEAR 2003-04. 2. WHEN THE MATTER WAS CALLED FOR HEARING, IT IS NO TICED THAT THE ASSESSEE HAS FILED A LETTER DATED 01.09.2021 ENCLOS ING THEREWITH COPY FORM NO.3 ISSUED BY THE DESIGNATED AUTHORITY FOR SE TTLEMENT OF ISSUE UNDER DIRECT TAX VIVAD SE VISHWAS ACT, 2020. IN VI EW OF THIS, THE LD.COUNSEL FOR THE ASSESSEE SEEKS WITHDRAWAL OF THE ABOVE APPEAL PENDING BEFORE THE TRIBUNAL SO AS TO AVAIL BENEFIT UNDER SCHEME. THE ITA NO.2176/AHD/2018 2 LD.DR HAS NO OBJECTION IF THE APPEAL OF THE ASSESSE E IS TREATED TO BE WITHDRAWN IN TERMS OF SCHEME OPTED BY THE ASSESSEE. 3. IN THE LIGHT OF THE ABOVE SUBMISSION MADE BY ASS ESSEE, WE FIND NO REASON TO KEEP PENDING APPEAL OF THE ASSESSEE BE FORE THE TRIBUNAL. ACCORDINGLY, THE APPEAL OF THE ASSESSEE STANDS DISM ISSED. HOWEVER, IN THE EVENT, THE ASSESSEE FAILS TO AVAIL THE BENEFIT OF VSV SCHEME FOR ANY REASONS, THEN THE ASSESSEE WILL BE AT LIBERTY T O SEEK RESTORATION OF ORIGINAL APPEAL FOR ADJUDICATION BEFORE ITAT IN ACC ORDANCE WITH LAW. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE STANDS DISMISSED UNDER VSV SCHEME. ORDER PRONOUNCED IN THE COURT ON 3 RD SEPTEMBER, 2021 AT AHMEDABAD. S D / - (WASEEM AHMED) ACCOUNTANT MEMBER S D / - (RAJPAL YADAV) VICE-PRESIDENT