MGN AGRO PROPERTIES PVT. LTD. (SUCCESSOR IN INTEREST TO M/S. WELSPUN FINTRADE PVT. LTD.), MUMBAI V. DCIT- 8 (3)(2), MUMBAI

ITA 2904/MUM/2018

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 1478 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 9 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2014-2015
• Appeal Filed On: 07-05-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: T S KHALSA
• Section: 143(3)

Judgement Text

ITA NO. 2904/MUM/2018 A.Y. 2014 - 15 M/S MGN AGRO PROPERTIES PVT. LTD. VS. DCIT - 8(3)(2) 1 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH G MUMBAI BEFORE SHRI MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) AND SHRI RAVISH SOOD (JUDICIAL MEMBER) ITA NO. 2904/MUM/2018 (ASSESSMENT YEAR: 2014 - 15) M/S MGN AGRO PROPERTIES PVT. LTD, (SUCCESSOR IN INTEREST TO M/S WELSPUN PVT. LTD.) WING - B, 9 TH FLOOR, TRADE WORLD, KAMALA MILLS COMPOUND, SENAPATI BAPAT MARG, LOWER PAREL, MUMBAI 400 013 VS. DCIT - 8(3)(2), ROOM NO. 615, AAYAKAR BHAVAN, M.K. ROAD, MUMBAI 400 020 PAN NO. AAACW2877J (ASSESSEE) (REVENUE) ASSESSEE BY : SHRI POOJAN MEHTA , A.R REVENUE BY : SHRI T.S. KHALSA, D.R DATE OF HEARING : 11 /02/2021 DAT E OF PRONOUNCEMENT : 11 /02/2021 ORDER PER RAVISH SOOD, J.M: THE PRESENT APPE AL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER PASSED BY THE CIT(A) - 1 4 , MUMBAI , WHICH IN TURN ARISES FROM THE ASSESSMENT ORDER PASSED BY THE A.O UNDER SEC. 143(3) OF THE INCOME - TAX ACT, 1961, DATED 30.11.2016 FOR ASSESSMENT YEAR 2014 - 15. 2. THE ASSESSEE HAS FILED A LETTER ON 0 9 TH FEBRUARY, 2021, WHEREIN IT IS STATED THAT IT HAD FILED AN APPLICATION UNDER THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 IN ORDER TO SETTLE THE AFORESAID MATTER PENDING BEFORE THE TRIBU NAL AND HA S RECEIVED THE CERTIFICATE UNDER SUB - SECTION (1) OF SEC. 5 OF DIRECT TAX VIVAD SE VISHWAS ACT, 2020 FROM THE DESIGNATED AUTHORITY . IN SUPPORT OF IT S AFORESAID CLAIM THE ASSESSEE HAD ENCLOSED ALONGWITH ITS LETTER FORM 3 ISSUED BY THE DESIGNATED AUTHORITY . IT IS STATED BY THE ASSESSEE THAT IN THE BACKDROP OF THE AFORESAID FACTS THE CAPTIONED APPEAL MAY ALLOWED TO BE WITHDRAWN. 3. THE LD. D.R DID NOT CONTROVERT THE AFORESAID FACTUAL POSITION AS WAS CANVASSED BEFORE US. ITA NO. 2904/MUM/2018 A.Y. 2014 - 15 M/S MGN AGRO PROPERTIES PVT. LTD. VS. DCIT - 8(3)(2) 2 4. IN VIEW OF THE ABOVE, WE DISMISS THE APPEAL AS WITHDRAWN, SUBJECT TO A RIDER THAT IN THE UNLIKELY EVENT OF THE MATTER NOT BEING RESOLVED UNDER THE VIVAD SE VISHWAS SCHEME THE ASSESSEE SHALL HAVE LIBERTY TO APPROACH THE TRIBUNAL FOR RESTORATION OF ITS APPEAL. 5. RESULTANTLY, THE A PPEAL IS DISMISSED AS WITHDRAWN SUBJECT TO THE OBSERVATION RECORDED HEREINABOVE. ORDER PRON OUNCED IN THE OPEN COURT ON 11 /02/2021. SD/ - SD/ - ( MANOJ KUMAR AGGARWAL) (RAVISH SOOD) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI ; DATED: 11 .02.2021 PS: ROHIT 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// (SR. PRIVATE SECRETARY) ITAT, MUMBAI