M/s Shyamlal Iron & Steel Co., Kolkata V. ACIT, Cir-40, Kolkata, Kolkata

ITA 2606/KOL/2019

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 5964 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 1 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2009-2010
• Appeal Filed On: 18-12-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: JAYANTA KHANRA
• Keywords: Competent authority

Judgement Text

ITA NO.2606/KOL/2019 M/S SHYAMLAL IRON & STEEL CO. A.Y. 2009-10 1 | P A GE , C(SMC) , IN THE INCOME TAX APPELLATE TRIBUNAL C(SMC) BENCH : KOLKATA [BEFORE SHRI A. T. VARKEY, JM] I.T.A. NO. 2606/KOL/2019 ASSESSMENT YEAR: 2009-10 M/S SHYAMLAL IRON & STEEL CO. (PAN: AALFS 6698 F) VS. ACIT, CIRCLE-45, KOLKATA APPELLANT RESPONDENT DATE OF HEARING (VIRTUAL) 03.02.2021 DATE OF PRONOUNCEMENT 03.02.2021 FOR THE APPELLANT SHRI TARAKNATH JAISWAL, ADVOCATE FOR THE RESPONDENT SHRI JAYANTA KHANRA, JCIT, SR. D .R ORDER PER SHRI A. T. VARKEY, JM: THIS APPEAL PREFERRED BY THE ASSESSEE IS AGAINST THE ORDER OF LD. CIT(A)-13, KOLKATA DATED 26.06.2019 FOR ASSESSMENT YEAR 2009-1 0. 2. AT THE OUTSET, THE LD. COUNSEL FOR THE ASSESSEE SHRI TARAKNATH JAISWAL BROUGHT TO MY NOTICE THAT THE ASSESSEE HAD OPTED FOR DIRE CT TAX VIVAD SE VISHWAS SCHEME, 2020 (HEREINAFTER, THE SCHEME) AND HAD FILED FORM -1 & FORM-2 BEFORE THE COMPETENT AUTHORITY AND IS AWAITING THE ISSUE OF FO RM NO. 3 FROM THE COMPETENT AUTHORITY. THEREFORE, TAKING INTO CONSIDERATION TH E FACT THAT SINCE THE ASSESSEE HAS OPTED FOR THE SCHEME FOR THE AY 2009-10, THERE IS N O POINT IN KEEPING THE IMPUGNED APPEAL PENDING. 3. IN THE LIGHT OF THE AFORESAID DISCUSSION, WE TR EAT THIS SUBMISSION OF THE ASSESSEE INFORMING THE TRIBUNAL THE FACT THAT ASSES SEE HAS OPTED FOR THE SAID SCHEME, THEREFORE, WE ALLOW THE ASSESSEE TO WITHDRAW THE IM PUGNED APPEAL. IN CASE, IF THE COMPETENT AUTHORITY AS PER THE SCHEME DOES NOT ACCE PT THE ASSESSEES PROPOSAL TO OPT FOR THE VIVAD SE VISHWAS SCHEME, 2020, THEN THE ASS ESSEE IS AT LIBERTY TO MOVE AN ITA NO.2606/KOL/2019 M/S SHYAMLAL IRON & STEEL CO. A.Y. 2009-10 2 | P A GE APPLICATION FOR RECALLING THIS ORDER. WITH THE AFO RESAID CAVEAT, I ALLOW THE ASSESSEE TO WITHDRAW THE CAPTIONED APPEAL. 4. NEEDLESS TO SAY THAT MY AFORESAID ACTION ALLOWIN G THE ASSESSEE TO WITHDRAW THE APPEAL, WILL NOT COME IN THE WAY OF THE COMPETENT A UTHORITY OF REVENUE TO ACCEPT THE ASSSSEES SAID OPTION/SCHEME FOR AVAILING VIVAD SE VISHWAS SCHEME, 2020. 5. IN THE RESULT, THE APPEAL OF ASSESSEE IS DISMISS ED AS WITHDRAWN. ORDER IS PRONOUNCED IN THE OPEN COURT ON 3 RD FEBRUARY, 2021. SD/- (J.S. REDDY) (A. T. VARKEY) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 03.02.2021 JD, SR. PS COPY OF THE ORDER FORWARDED TO: 1. APPELLANT- M/S SHYAMLAL IRON & STEEL CO., 120A, MAN ICKTALA MAIN ROAD, KOLKATA-700054. 2. RESPONDENT ACIT, CIRCLE-45, KOLKATA 3. THE CIT(A)- 13, KOLKATA (SENT THROUGH E-MAIL) 4. CIT- , KOLKATA 5. DR, KOLKATA BENCHES, KOLKATA (SENT THROUGH E-MAIL) TRUE COPY BY ORDER ASSISTANT REGISTRAR ITAT, KOLKATA BENCHES, KOLKATA