Sri. G. Dayananda Reddy (HUF), Bangalore V. Income Tax Officer, Ward- 4(3)(4), Bangalore

ITA 2539/BANG/2019

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 6871 (ITAT-BANGALORE)
• Duration Of Justice: 8 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-09-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 07-09-2020
• Assessment Year: 2011-2012
• Appeal Filed On: 17-12-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: R PREMI JT BENGALU RU
• Assessee Lawyers: V SRINIVASAN
• Keywords: Reopening of assessment; Capital Gains
• Section: 148

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER ITA NO.2539/BANG/2019 ASSESSMENT YEAR : 2011-12 SHRI G. DAYANANDA REDDY HUF, # 205, BEHIND TRINITY WOODS, SARJAPURA ROAD, AMBALIPURA, BENGALURU 560 102. PAN: AAAHG 6308M VS. THE INCOME TAX OFFICER, WARD 4[3][4], BENGALURU. APPELLANT RESPONDENT APPELLANT BY : SHRI V. SRINIVASAN, ADVOCATE RESPONDENT BY : SMT. R. PREMI, JT. CIT(DR)(ITAT), BENGALURU. DATE OF HEARING : 07.09.2020 DATE OF PRONOUNCEMENT : 10 .0 9 .2020 O R D E R PER N.V. VASUDEVAN, VICE PRESIDENT THE ASSESSEE HAS FILED THIS APPEAL AGAINST THE OR DER DATED 25.10.2019 PASSED BY THE LD. CIT(APPEALS)-4, BENGAL URU RELATING TO THE ASSESSMENT YEAR 2011-12. THE ASSESSEE HAS CHALLEN GED THE JURISDICTION OF REOPENING OF ASSESSMENT U/S. 148 OF THE INCOME-T AX ACT, 1961 [THE ACT] AS WELL AS ON MERITS THE ADDITION ON ACCOUNT OF LON G TERM CAPITAL GAINS. ITA NO.2539/BANG/2019 PAGE 2 OF 3 2. THE LD. COUNSEL FOR THE ASSESSEE HAS FILED A LET TER DATED 02.09.2020 STATING THAT THE ASSESSEE HAS FILED FORM 1 & FORM 2 UNDER THE DIRECT TAX VIVAD SE VISHWAS ACT WITH RESPECT TO THIS APPEAL AN D FORM 3 IS AWAITED. ONCE FORM-3 IS ISSUED, THE ASSESSEE WILL BE WITHDRA WING THIS APPEAL BEFORE THE TRIBUNAL. ACCORDINGLY, ADJOURNMENT OF THE APPE AL IS SOUGHT FOR. 3. THE LD. D.R, HOWEVER, SUBMITTED THAT THE ASSESSE E HAS TO WITHDRAW THE PENDING APPEALS AFTER FILING FORM VSV1 AS PER V IVAD SE VISHWAS SCHEME 2020. THEREAFTER, THE ASSESSEE IS REQUIRED TO FURNISH A COPY OF THE SAME ALONG WITH THE PROOF OF PAYMENT OF TAX AS DETE RMINED BY THE TAX OFFICIAL TO THE DEPARTMENT. SHE SUBMITTED THAT THE FORM NO.3 SHALL BE ISSUED TO THE ASSESSEE IN DUE COURSE AND ACCORDINGL Y SHE SUBMITTED THAT THESE APPEALS OF THE ASSESSEE MAY BE DISMISSED AS W ITHDRAWN, AS THE ASSESSEE, IN ANY WAY, IS REQUIRED TO WITHDRAW THE A PPEAL. 4. WE HEARD THE PARTIES AND PERUSED THE RECORD. SI NCE THE ASSESSEE HAS OPTED FOR VIVAD SE VISHWAS SCHEME, 2020, IT WOU LD BE MOVING APPLICATION FOR WITHDRAWING THE PRESENT APPEAL FILE D BEFORE THE TRIBUNAL IN DUE COURSE. SINCE THE ASSESSEE HAS ALREADY FILED T HE NECESSARY APPLICATIONS BEFORE THE TAX AUTHORITIES UNDER THE A BOVE SAID SCHEME, WE ARE OF THE VIEW THAT NO PURPOSE WILL BE SERVED IN K EEPING THESE APPEALS PENDING. ACCORDINGLY WE DISMISS THE APPEAL OF THE ASSESSEE AS WITHDRAWN. 5. THE ASSESSEE HAS ALSO SOUGHT ADJOURNMENT ON THE GROUND THAT SINCE IT HAS NOT YET RECEIVED FORM NO.3, IN WHICH THE TAX AMOUNT TO BE PAID BY THE ASSESSEE SHALL BE INTIMATED BY THE DEPARTMENT, MEAN ING THEREBY, THE ASSESSEE WANTS TO MAKE SURE THAT THE TAX LIABILITY MENTIONED BY IT IN FORM NO.1 SHOULD GET CONFIRMED BY THE REVENUE. ON THESE SET OF FACTS, SINCE WE HAVE ALREADY DISMISSED THE APPEAL, THE ASSESSEE IS GIVEN LIBERTY TO MOVE APPROPRIATE APPLICATION FOR RECALL OF THE PRESENT O RDER IN ACCORDANCE WITH THE LAW, IF THE ASSESSEE INTENDS TO DO SO. ITA NO.2539/BANG/2019 PAGE 3 OF 3 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DIS MISSED AS WITHDRAWN. PRONOUNCED IN THE OPEN COURT ON THIS 10 TH DAY OF SEPTEMBER, 2020. SD/- SD/- ( CHANDRA POOJARI ) ( N V VASUDEVAN ) ACCOUNTANT MEMBER VICE PRE SIDENT BANGALORE, DATED, THE 10 TH SEPTEMBER, 2020. / DESAI S MURTHY / COPY TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. BY ORDER ASSISTANT REGISTRAR ITAT, BANGALORE.