The Sutex Co.Op. Bank Ltd., Surat V. The ACIT, Circle-2, Surat

ITA 224/AHD/2016

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 8119 (ITAT-SURAT)
• Duration Of Justice: 5 year(s) 7 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-09-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2011-2012
• Appeal Filed On: 01-02-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SRINIVAS T BIDARI
• Assessee Lawyers: MEHUL K PATEL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER ITA NO. 224/AHD/2016 (AY 2011-12) (H EARING IN VIRTUAL COURT) THE SUTERX CO.OP. BANK LTD., SURAT TEXTILE MARKET, RING ROAD, SURAT-395017 PAN : AAAAT 2953 Q VS ACIT, CRICLE-2, ROOM NO.110, AAYKAR BHAVAN, MAJURA GATE, SURAT- 395001 ASSESSEE / APPELLANT REVENUE /RESPONDENT ASSESSEE BY SHRI MEHUL K. PATEL, ADVOCATE REVENUE BY SHRI SRINIVAS T. BIDARI, CIT-DR DATE OF HEARING 01.09.2021 DATE OF PRONOUNCEMENT 01.09.2021 ORDER UNDER SECTION 254(1) OF INCOME TAX ACT PER PAWAN SINGH, JUDICIAL MEMBER : 1. THIS APPEAL BY ASSESSEE IS DIRECTED AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-II, SURAT DATED 28.09.2015 FOR ASSESSMENT YEAR (AY) 2011-12. THIS APPEAL CAME UP HEARING TODAY (1 ST SEPTEMBER 2021), THE LEARNED COUNSEL FOR THE ASSESSEE SUBMITS THAT THE ASSESSEE HAS APPLIED FOR SEEKING THE BENEFITS OF VIVAD SE VISVAS SCHEME -2020 (VSV-20) AND RECEIVED FORM-3 OF VSV-20 FROM DESIGNATED AUTHORITY. THE LEARNED COUNSEL FOR THE ASSESSEE FURTHER SUBMITS THAT HE MAY BE ALLOWED TO WITHDRAW HIS APPEAL. 2. ON THE OTHER HAND THE LEARNED SENIOR DEPARTMENTAL REPRESENTATIVE (SR. DR) SUBMITS THAT HE HAS NO OBJECTION, IF THE APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN AS SUGGESTED BY THIS BENCH. ITA NO. 224/AHD/2016 THE SUTEX CO.OP.BANK LTD. (A.Y. 10-11) 2 3. WE HAVE CONSIDERED THE SUBMISSIONS OF BOTH THE PARTIES AND CONSIDERING THE FACTS THAT THE ASSESSEE HAS ALREADY FILED APPLICATION BEFORE THE PRESCRIBED AUTHORITY UNDER VSV-20 AND HAVE RECEIVED FORM-3 VIDE ACKNOWLEDGEMENT NO. 999159690040121DATED 04.01.2021 FROM DESIGNATED AUTHORITY. HENCE, THE APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN WITH LIBERTY TO THE ASSESSEE AS WELL AS TO THE REVENUE THAT IN CASE, IF THE APPLICATIONS PREFERRED BY THE ASSESSEE UNDER VSV-20 DOES NOT GET FINALLY SETTLED FOR ANY REASON WHATSOEVER, THEN BOTH THE PARTIES ARE AT LIBERTY TO PREFER MISCELLANEOUS APPLICATION BEFORE THIS TRIBUNAL FOR RESTORATION OF THIS APPEAL OR ANY FURTHER DIRECTION AND IN SUCH EVENT, THE APPEALS SHALL GET RESTORED. THE ASSESSING OFFICER IS DIRECTED TO PASS THE CONSEQUENTIAL ORDER. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN. ORDER ANNOUNCED AT THE TIME OF HEARING OF APPEAL ON WEDNESDAY 1 ST SEPTEMBER 2021 IN THE VIRTUAL COURT HEARING. SD/- SD/- ( DR ARJUN LAL SAINI) (PAWAN SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER SURAT, DATED: 01/09/2021 DKP. OUTSOURCING SR.P.S. COPY TO: 1. APPELLANT-THE SURTEX CO.OP. BANK LTD., SURAT TEXTILE MARKET, RING ROAD, SURAT 2. RESPONDENT- ACIT, CIR-2, ROOMNO.110, AAYKAR BHAVAN, MAJURA GATE, SURAT-395001 3. CIT(A)-II, SURAT 4. CIT 5. DR 6. GUARD FILE TRUE COPY/ BY ORDER ASSISTANT REGISTRAR, ITAT, SURAT