V.G.N. JEWELLERS, MULUND WEST, MUMBAI V. ACIT 29(3), MUMBAI

ITA 2469/MUM/2019

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 6314 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 9 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 2013-2014
• Appeal Filed On: 22-04-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: DR P DANIEL
• Keywords: Competent authority
• Section: 6

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL F BENCH, MUM BAI BEFORE SHRI SHAMIM YAHYA, AM AND SHRI AMARJIT SINGH , JM ITA NO. 2469/MUM/2019 (ASSESSMENT YEAR: 2013-14) M/S. V. G. N. JEWELLERS PARTNERSHIP FIRM 2 ND FLOOR, R. MALL, LBS MARG, MULUND (W), MUMBAI-400 080 VS. ACIT-29(3) MUMBAI-400 051 PAN/GIR NO. AAHFV 2298 J ( APPELLANT ) : ( RESPONDENT ) APPELLANT BY : DR. P. DANIEL RESPONDENT BY : MS. USHA GAIKWAD DATE OF HEARING : 28.01.2021 DATE OF PRONOUNCEMENT : 01.02.2021 O R D E R PER SHAMIM YAHYA, A. M.: THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST TH E ORDER OF LEARNED CIT(A)-40, MUMBAI (IN SHORT THE CIT(A)) DATED 22.03.2019, PE RTAINING TO THE ASSESSMENT YEAR 2013-14. 2. AT THE OUTSET, IT IS NOTED THAT THE ASSESSEE HAS OPTED FOR SOLUTION OF DISPUTE UNDER THE VIVAAD SE VISHWAS SCHEME. 3. WE NOTE THAT IN A SIMILAR SITUATION, HON'BLE MAD RAS HIGH COURT HAS IN AN APPEAL IN THE CASE OF M/S. NANNUSAMY MOHAN (HUF) VS ACIT V IDE ORDER DATED 16.10.2020 HELD AS UNDER :- 3. THE LEARNED COUNSEL FOR THE APPELLANT / ASSESSE E, ON INSTRUCTIONS, SUBMITTED THAT THE APPELLANT / ASSESSEE INTENDS TO AVAIL THE BENEFIT OF VIVAD SE V ISHWAS SCHEME (VVS SCHEME FOR BREVITY) AND IN THIS REGARD, THE ASSESSEE IS TAKING STEPS TO FILE T HE APPLICATION / DECLARATION IN FORM NO. I. 4. IT MAY NOT BE NECESSARY FOR THIS COURT TO DECIDE THE SUBSTANTIAL QUESTIONS OF LAW FRAMED FOR CONSIDERATION ON ACCOUNT OF CERTAIN SUBSEQUENT DEVE LOPMENTS. THE GOVERNMENT OF INDIA ENACTED THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 (ACT 3 OF 202 0) TO PROVIDE FOR RESOLUTION OF DISPUTED TAX AND FOR MATTERS CONNECTED THEREWITH OR INCIDENTAL THERE TO. THE ACT OF THE PARLIAMENT RECEIVED THE ASSENT OF THE PRESIDENT ON 17 TH MARCH 2020 AND PUBLISHED IN THE GAZETTE OF INDIA O N 17 TH MARCH 2020. 5. IN TERMS OF THE SAID ACT, THE ASSESSEE HAS BEEN GIVEN AN OPTION TO PUT AN END TO THE TAX DISPUTES, WHICH MAY BE PENDING AT DIFFERENT LEVELS EITHER BEFORE THE FIRST APPELLATE AUTHORITY OR BEFORE THE TRIBUNAL OR BEFORE THE HIGH COURT OR BEF ORE THE HON'BLE SUPREME COURT OF INDIA. UNDER SECTION 2(J) DISPUTED TAX HAS BEEN DEFINED. IN TE RMS OF SECTION 3, WHERE A DECLARANT MEANS A PERSON, WHO FILES A DECLARATION UNDER SECTION 4 ON OR BEFORE THE LAST DATE FILES A DECLARATION TO THE DESIGNATED AUTHORITY IN ACCORDANCE WITH THE PROVISI ONS OF SECTION 4 IN RESPECT OF TAX ARREARS, THEN, NOTWITHSTANDING ANYTHING CONTAINED IN THE INCOME TA X ACT OR ANY OTHER LAW FOR THE TIME BEING IN FORCE, THE AMOUNT PAYABLE BY THE DECLARANT SHALL BE DETERMINED IN TERMS OF SECTION 3(A-C) THEREUNDER. 6. THE FIRST PROVISO TO SECTION 3 STATES THAT IN CA SE, WHERE AN APPEAL OR WRIT PETITION OR SPECIAL LEAVE PETITION IS FILED BY THE INCOME TAX AUTHORITY ON ANY ISSUE BEFORE THE APPELLATE FORUM, THE AMOUNT PAYABLE SHALL BE ONE-HALF OF THE AMOUNT IN T HE TABLE STIPULATED IN SECTION 3 CALCULATED ON SUCH 2 ITA NO. 2469/MUM/2019 V.G.N JEWELLERS VS. ACIT ISSUE, IN SUCH A MANNER AS MAY BE PRESCRIBED. THE S ECOND PROVISO DEALS WITH THE CASES, WHERE THE MATTER IS BEFORE THE COMMISSIONER (APPEALS) OR BEFO RE THE DISPUTE RESOLUTION PANEL. THE THIRD PROVISO DEALS WITH CASES, WHERE THE ISSUE IS PENDIN G BEFORE THE INCOME TAX APPELLATE TRIBUNAL. THE FILING OF THE DECLARATION IS AS PER SECTION 4 OF TH E ACT AND THE PARTICULARS TO BE FURNISHED ARE ALSO MENTIONED IN THE SUB SECTIONS OF SECTION 4. SECTION 5 OF THE ACT DEALS WITH THE TIME AND MANNER OF THE PAYMENT AND SECTION 6 DEALS WITH IMMUNITY FROM INIT IATION OF PROCEEDINGS IN RESPECT OF OFFENCE AND IMPOSITION OF PENALTY IN CERTAIN CASES. SECTION 9 O F THE ACT DEALS WITH CASES, WHERE THE ACT 3 OF 2020 WILL NOT BE APPLICABLE. 7. AS OBSERVED, THE ASSESSEE IS GIVEN LIBERTY TO RE STORE THIS APPEAL IN THE EVENT THE ULTIMATE DECISION TO BE TAKEN ON THE DECLARATION TO BE FILED BY THE ASSESSEE UNDER SECTION 4 OF THE SAID ACT IS NOT IN FAVOUR OF THE ASSESSEE. IF SUCH A PRAYER IS MADE, THE REGISTRY SHALL ENTERTAIN THE PRAYER WITHO UT INSISTING UPON ANY APPLICATION TO BE FILED FOR COND ONATION OF DELAY IN RESTORATION OF THE APPEAL AND O N SUCH REQUEST MADE BY THE ASSESSEE BY FILING A MISCE LLANEOUS PETITION FOR RESTORATION, THE REGISTRY SHALL PLACE SUCH PETITION BEFORE THE DIVISION BENCH FOR ORDERS. 8. IN THE LIGHT OF THE ABOVE, WE DIRECT THE APPELLA NT / ASSESSEE TO FILE THE FORM NO.I ON OR BEFORE 20.11.2020 AND THE COMPETENT AUTHORITY SHALL PROCES S THE APPLICATION / DECLARATION IN ACCORDANCE WITH THE ACT AND PASS APPROPRIATE ORDERS AS EXPEDIT IOUSLY AS POSSIBLE PREFERABLY WITHIN A PERIOD OF SIX (6) WEEKS FROM THE DATE ON WHICH THE DECLARATIO N IS FILED IN THE PROPER FORM. 4. ACCORDINGLY, RESPECTFULLY FOLLOWING THE ABOVE AN D NOTING THE FACT THAT THE ASSESSEE IS OPTING FOR RESOLUTION OF DISPUTE UNDER VSWS SCHEME IN THE PRESENT CASE, WE TREAT THIS APPEAL BEING DISPOSED OFF AS WITHDRAW N. 5. THE ASSESSEE IS GIVEN LIBERTY FOR RESTORATION OF APPEAL IN ACCORDANCE WITH PARAGRAPH 7 OF THE HON'BLE HIGH COURT ORDER AS ABOV E. THE COUNSEL PRESENT FAIRLY AGREED TO THE ABOVE PROPOSITION 6. IN THE RESULT, THE APPEAL BY THE ASSESSEE IS DIS POSED OF BY TREATING THE SAME AS WITHDRAWN. ORDER PRONOUNCED UNDER RULE 34(4) OF THE INCOME TAX (APPELLATE TRIBUNAL) RULES, 1962, BY PLACING THE DETAILS ON THE NOTICE B OARD ON 01.02.2021. SD/- SD/- (AMARJIT SINGH) JUDICIAL MEMBER (SHAMIM YAHYA) ACCOUNTANT MEMBER MUMBAI, DATE : 01.02.2021 ROSHANI , SR. PS COPY TO : 1) THE APPELLANT 2) THE RESPONDENT 3) THE CIT(A) CONCERNED 4) THE CIT CONCERNED 5) THE D.R, SMC BENCH, MUMBAI 6) GUARD FILE BY ORDER DY./ASSTT. REGISTRAR I.T.A.T, MUMBAI