DCIT (IT) 2(3)(2), MUMBAI V. GENERAL ELECTRIC CAPITAL CORPORATION, MUMBAI

ITA 2372/MUM/2018

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 7345 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 8 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-01-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2012-2013
• Appeal Filed On: 17-04-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 143(3); 144C; 13

Judgement Text

ITA NO. 2372/MUM/2018 ASSESSMENT YEAR: 2012 - 13 PAGE 1 OF 2 INCOME TAX APPELLATE TRIBUNAL MUMBAI I BENCH, MUMBAI [CORAM: PRAMOD KUMAR (VICE PRESIDENT) AND SAKTIJIT DEY (JUDICIAL MEMBER)] ITA NO. 2372/MUM/2018 ASSESSMENT YEAR: 2012 - 13 DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION) - 2(3)(2), MUMBAI ..APPELLANT VS GENERAL ELECTRIC CAPITAL CORPORATION ..........RESPONDENT C/O SRBC & ASSOCIATES, 16 TH FLOOR, THE RUBY, 29 SENAPATI BAPAT MARG, MUMBAI 400028 [PAN: AACCG0933H] APPEARANCES BY AMEYA PANT FOR THE APPELLANT SANJAY SINGH FOR THE RESPONDENT DATE OF CONCLUDING THE HEARING : JANUARY 13, 2021 DATE O F PRONOUNCEMENT : JANUARY 1 4 ,2021 ORDER PER BENCH: - 1. THIS APPEAL, FILED BY THE ASSESSING OFFICER , CALLS INTO QUESTION THE CORRECTNESS OF THE ORDER DATED 24.01.2018 , PASSED BY THE LD. CIT(A) - 56 , MUMBAI IN THE MATTER OF ASSESSMENT U/S. 143(3) R.W.S. 144C OF THE INCOME TAX ACT, 1961, FOR THE ASSESSMENT YEAR 2012 - 13 . 2. WHEN THE APPEAL WAS CALLED OUT FOR H EARING, THE LD. COUNSEL OF THE ASSESSEE SUBMITTED THAT HE HAS FILED THE NECESSARY DECLARATION UNDER DIRECT TAX VIVAD SE VISHWAS ACT, 2020 (ACT 3 OF 2020) AND IS AWAITING FOR FINAL RESOLUTION OF THE MATTER UNDER THE SAID SCHEME. 3. ON A SUGGESTION FROM TH E BENCH THE LEARNED DEPARTMENTAL REPRESENTATIVE ACCEPTED FOR WITHDRAWAL OF APPEAL AS LONG AS THE RIGHT OF THE REVENUE IS PROTECTED FOR REVIVAL OF THE ITA NO. 2372/MUM/2018 ASSESSMENT YEAR: 2012 - 13 PAGE 2 OF 2 APPEAL, IF FOR SOME UNFORESEEN REASON THE MATTER BEING NOT SETTLED UNDER VIVAD SE VISHWAS SCHEME. 4. IN V IEW OF THE ABOVE, WE DISMISS THE APPEAL AS WITHDRAWN, SUBJECT TO THE RIDER THAT IN THE UNLIKELY EVENT OF MATTER NOT BEING RESOLVED UNDER THE VIVAD SE VISHWAS SCHEME, THE ASSESSEE SHALL HAVE LIBERTY TO APPROACH THE TRIBUNAL FOR RESTORATION OF HIS APPEAL. 5. IN THE RESULT, THE APPEAL IS DISMISSED AS WITHDRAWN SUBJECT TO THE OBSERVATION ABOVE. PRONOUNCED IN THE OPEN COURT TODAY ON THE 1 4 JANUARY, 2021. S D / - S D / - SAKTIJIT DEY PRAMOD K UMAR ( JUDICIAL MEMBER ) (VICE PRESIDENT) MUMBAI, DATED THE 1 4 DAY OF JANUARY, 2021 N.V, SR. PS COPIES TO: (1) THE APPLICANT (2) THE RESPONDENT (3) CIT (4) CIT(A) (5) DR (6) GUARD FILE BY ORDER TRUE COPY ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES, MUMBAI