M/S. SHREENATH ENTERPRISES, MUMBAI V. ACIT,18(3), MUMBAI

ITA 280/MUM/2019

• Counselvise Citation: [2020] 109 COUNSELVISE.COM (IT) 9343 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 11 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-12-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2011-2012
• Appeal Filed On: 21-01-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SUSHIL MISHRA
• Section: 48; 13; 2

Judgement Text

SMC IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, MUMBAI , BEFORE S H RI VIKAS AWASTHY , JUDICIAL MEMBER ./ ITA NO. 280 / MUM/ 2019 ( / ASSESSMENT YEARS 2011 - 12 ) ./ ITA NO. 281 / MUM/ 2019 ( / ASSESSMENT YEARS 2012 - 13 ) M/S SHREENATH ENTERPRISES 6, SAMARTH SADAN, PITAMBAR LANE, MAHIM, MUMBAI - 400 016 / VS. THE ASST. COMMISSIONER OF INCOME TAX, CIRCLE 18(3), ROOM NO. 209, PIRAMAL CHAMBERS, PAREL, MUMBAI - 400 012 ( / APPELLANT) ( / RESPONDENT) . / PAN NO. AACFS 2959 Q / APPELLANT BY : NONE (OPTED FOR VSVS) / RESPONDENT BY : SHRI SUSHIL MISHRA, DR / DATE OF HEARING : 28.12.2020 / DATE OF PRONOUNCEMENT : 28.12.2020 / O R D E R THESE APPEAL S BY THE ASSESSEE ARE DIRECTED AGAINST THE ORDER S OF COMMISSIONER OF INCOME TAX (APPEALS) - 48 , MUMBAI [IN SHORT THE PAGE | 2 ITA NO S . 280 & 281 /MUM/ 2019 M/S SHREENATH ENTERPRISES; AYS: 11 - 12, 12 - 13 CIT(A) ] FOR THE ASSE SSMENT YEAR S 2011 - 12 & 2012 - 13 DATED 26.03.2014 & 08.10.2018 , RESPECTIVELY . 2. A R EQUEST LETTER DATED 28.12.2020 HAS BEEN RECEIVED FROM THE ASSESSEE STATING THAT THE ASSESSEE HAS OPTED FOR VIWAD SE VISHWAS SCHEME, 2020 (IN SHORT VSVS) AND HENCE, WANT TO W ITHDRAW APPEAL S FOR BOTH THE ASSESSMENT YEAR S I.E. AY 2011 - 12 & 2012 - 13 . THE R ELEVANT EXTRACT OF THE AFORESAID LETTER IS REPRODUCED HEREIN BELOW: RE: APPEAL NO. ITA/280/MUM/2019 AND ITA/281/MUM/2019 P.A.N. AACFS2959Q ASSESSMENT YEAR: 2011 - 12 AND ASSESSMEN T YEAR 2012 - 13 THIS IS WITH REFERENCE TO OUR ABOVE APPEALS AND ACCORDINGLY WE WOULD LIKE TO SUBMIT AS FOLLOW: WE HAVE DECIDED TO OPT VIVAD SE VISHWAS SCHEME 2020 AND ALREADY SUBMITTED FROM NO. 1 AND 2 ON 27 TH DECEMBER, 2020 FOR ASSESSMENT YEAR 2011 - 12. THE COPY OF THE ACKNOWLEDGEMENT FOR THE SAME IS ENCLOSED FOR YOUR KIND REFERENCE. FOR ASSESSMENT YEAR 2012 - 13, THE ISSUES COVERED IN THE APPEAL ARE IDENTICAL TO ASSESSMENT YEAR 2011 - 12 AND WE ARE IN THE PROCESS OF SUBMITTING THE APPLICATION UNDER VIVAD S E VISHWAS SCHEME 2020 FOR THE SAID ASSESSMENT YEAR ALSO. ACCORDINGLY, WE WILL BE WITHDRAWING BOTH THE ABOVE APPEALS AFTER RECEIPT OF CERTIFICATE IN FORM NO. 3 FROM THE APPROPRIATE AUTHORITY UNDER THE SAID VIVAD SE VISHWAS SCHEME 2020 IN VIEW OF ABOVE, WE REQUEST YOU TO GRANT SUITABLE ADJOURNMENT IN THE MATTER. THANKING YOU AND ASSURING OF OUR COOPERATION AT ALL TIMES. YOURS FAITHFULLY FOR SHREENATH ENTERPRISES SD/ - ( ACCOUNT MANAGER ) PAGE | 3 ITA NO S . 280 & 281 /MUM/ 2019 M/S SHREENATH ENTERPRISES; AYS: 11 - 12, 12 - 13 3. SHRI SUSHIL MISHRA, REPRESENTING THE DEPARTMENT STATED THAT THE DEPARTMENT HAS NO OBJECTION IF THE ASSESSEE WANTS TO WITHDRAW THE APPEALS TO AVAIL THE BENEFIT OF VSVS. 4. IN VIEW OF ABOVE REQUEST, THE ASSESSEE IS ALLOWED TO WITHDRAW THE APPEAL S . THUS, THE APPEAL S OF ASSESSEE ARE DISMISSED AS WITHDRAWN. 5. LIBERTY IS GRANTE D TO THE ASSESSEE TO REVIVE THE APPEAL S IN THE EVENT APPLICATION FILED BY THE ASSESSEE UNDER VSVS FAILS TO MATURE. IT IS FURTHER MADE CLEAR THAT IF THE ASSESSEE /APPELLANT SEEKS TO RESTORE THE APPEAL S IN THE EVENT ASSESSEES DECLARATION MADE UNDER VSVS IS NOT ACCEPTED, THE REGISTRY SHALL NOT INSIST FOR FILING OF APPLICATION FOR CONDONATION OF DELAY, IF THE MISCELLANEOUS APPLICATION FOR RECALLING THE ORDER IS FILED BEYOND TIME ON ACCOUNT OF DELAY IN COMMUNICATION OF OUTCOME UNDER VSVS. [ RE. M/S. NANNUSAMY MOHAN(HUF) VS. ACIT IN T.C.A NO.372 OF 2020 DECIDED ON 16/10/2020 BY HONBLE MADRAS HIGH COURT]. 6. THE APPEAL S ARE DISMISSED AS WITHDRAWN WITH THE LIBERTY AFORESAID . ORDER PRONOUNCED IN THE OPEN COURT ON MONDAY , THE 28 TH DAY OF DECEMBER , 2020 . SD/ - ( / VIKAS AWASTHY ) ( / JUDICIAL MEMBER ) , / MUMBAI, DATED: 28 . 1 2.2020 , . / SUDIP SARKAR, SR.PS PAGE | 4 ITA NO S . 280 & 281 /MUM/ 2019 M/S SHREENATH ENTERPRISES; AYS: 11 - 12, 12 - 13 / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE. / BY ORDER, //TRUE COPY// / ( ASSTT. REGISTRAR) , / ITAT, MUMBAI