M/S VAMA APPARELS (I) PVT LTD., Mumbai V. ACIT-CENTRAL CIRCLE-42, Mumbai

ITA 2348/MUM/2019

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 4520 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 5 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-09-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: F
• Assessment Year: 2000-2001
• Appeal Filed On: 12-04-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S N KABRA
• Section: 271(1)(c); 250; 254(2); 72

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL F BENCH, MUMBAI BEFORE SHRI S RIFAUR RAHMAN, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA NO.2348/MUM/2019 (A.Y: 2000-01) M/S . VAMA APPARELS (I) PVT LTD., KANCHAN JUNGA, 72 PEDDAR ROAD,KEMPS CORNER, MUMBAI 400026. VS. ACIT 42 RNO. 655, 6 TH FLOOR, AAYAKAR BHAVAN, MK ROAD, MUMBAI 400020 ./ ./ PAN/GIR NO. : AAACV3456A APPELLANT .. RESPONDENT APPELLANT BY : SHRI MAYUR MAKADIA. AR RESPONDENT BY : SHRI S . N . KABRA. DR DATE OF HEARING 15 .0 9 .2021 DATE OF PRONOUNCEMENT 17 .0 9 .2021 / O R D E R PER PAVAN KUMAR GADALE JM: THE ASSESSEE HAS FILED THE APPEAL AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-49, MUMBAI PASSED U/S 271(1)(C) AND 250 OF THE INCOME TAX ACT, 1961. 2. 2. AT THE TIME HEARING, THE LD. COUNSEL OF THE ASSESSEE HAS SUBMITTED A LETTER ON 06.08.2021 MENTIONING THAT THE ASSESSEE INTEND TO SETTLE THE TAX LITIGATION BY OPTING FOR VIVAD SE VISHWAS SCHEME 2 020 ITA NO. 2348/MUM/2019 M/S VAMA APPARELS (I) PVT LTD, MUMBAI - 2 - (VSVS2020) AND RECEIVED FORM 3 UNDER VSVS RULES 2020. CONTRA, THE LD. DR HAS NO OBJECTIONS. 3. WE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL ON RECORD. SINCE THE ASSESSEE HAS OPTED FO R VIVAAD SE VISHWAS SCHEME 2020 AND RECEIVED FORM-3 FROM THE INCOME TAX DEPARTMENT. WE ARE OF THE VIEW THAT, NO PURPOSE WILL BE SERVED IN KEEPING THE APPEAL PEN DING. ACCORDINGLY, WE DISMISS THE APPEAL OF THE ASSESSEE AS WITHDRAWN AND THE ASSESSEE IS GIVEN LIBERTY TO MOVE AN APPLICATION U/S 254(2) OF THE ACT TO RECALL THE PRE SENT ORDER AS PER PROVISIONS OF LAW. 4. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 17.09.2021. SD/- SD/- ( S RIFAUR RAHMAN ) (PAVAN KUMAR GADALE) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED 17.09.2021 KRK, PS ITA NO. 2348/MUM/2019 M/S VAMA APPARELS (I) PVT LTD, MUMBAI - 3 - / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. / THE CIT(A) 4. ( ) / CONCERNED CIT 5. '#$%&&' , )* , / DR, ITAT, MUMBAI 6. %-./0 / GUARD FILE. / BY ORDER, '& //TRUE COPY// 1. ( ASST. REGISTRAR) ITAT, MUMBAI