M/S NARESH TRADING CO. , MUMBAI V. ASST CIT CC 3 (3) , MUMBAI

ITA 298/MUM/2020

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 6919 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 7 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-08-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 1990-1991
• Appeal Filed On: 10-01-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SANJAY J SETHI
• Section: 143(3)

Judgement Text

ITA NO.298/MUM/2020 A.Y. 1990 - 91 M/S NARESH TRADING CO. VS. ACIT, CC - 3(3) 1 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH SMC MUMBAI BEFORE SHRI S.RIFAUR RAHMAN (ACCOUNTANT MEMBER) AND SHRI RAVISH SOOD (JUDICIAL MEMBER) ITA NO.298/MUM/2020 (ASSESSMENT YEAR: 1990 - 91) M/S NARESH TRADING CO. 116, MULJI DEVSI BUILDING, GROUND FLOOR, NEW CHINCH BUNDER ROAD, MUMBAI 400 009 VS. ASSTT. CIT, CC - 3(3) ROOM NO. 401, AAYAKAR BHAVAN, M.K. ROAD, MUMBAI 400 020 PAN NO. AAAFN3246K (ASSESSEE) (REVENUE) ASSESSEE BY : WITHDRAWAL LETTER DATED 10.06.2021 REVENUE BY : SHRI SANJAY J . SETHI , D.R DATE OF HEARING : 11/08 /2021 DATE OF PRONOUNCEMENT : 11 /08 /2021 ORDER PER RAVISH SOOD, J.M: THE PRESENT APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST T HE ORDER PASSED BY THE CIT(A) - 51 , MUMBAI, WHICH IN TURN ARISES FROM THE ASSESSMENT ORDER PASSED BY THE A.O UNDER SEC. 143(3) R.W.S 147 R.W.S 245HA OF THE INCOME - TAX ACT, 1961 DATED 16.03.2 015 FOR ASSESSMENT YEAR 1990 - 91 . 2. THE ASSESSEE HAS E - FILED A LETTER ON 10.06.2021, WHEREIN IT IS POINTED OUT THAT IT HAS FILED AN APPLICTION UNDER THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 IN ORDER TO SETTLE THE AFORESAID MATTER PENDING BEFORE THE TRIBUNAL. IT IS FURTHER STATED BY THE ASSESSEE THAT IT HAS RECEIVED FORM 3 FROM 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 IT IS STATED BY THE ASSESSEE THAT IN THE BACKDROP OF THE AFORESAID FACTS THE CAPTIONED APPEAL MAY ALLOWED TO BE WITHDRAWN. 3.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 HAD BEEN STATED BEFORE US. ITA NO.298/MUM/2020 A.Y. 1990 - 91 M/S NARESH TRADING CO. VS. ACIT, CC - 3(3) 2 4. IN VIEW OF THE ABOVE, WE DISMISS THE APPEAL AS WITHDRAWN, SUBJECT TO A RID ER THAT IN THE UNLIKELY EVENT OF THE MATTER NOT BEING RESOLVED UNDER THE VIVAD SE VISHWAS SCHEME THE ASSESSEE SHALL HAVE LIBERTY TO APPROACH TH E TRIBUNAL FOR RESTORATION OF IT S APPEAL. 5. RESULTANTLY, THE APPEAL IS DISMISSED AS WITHDRAWN SUBJECT TO THE OB SERVATION RECORDED HEREINABOVE. ORDER PRONOUN CED IN THE OPEN COURT ON 11 /08 /2021. SD/ - SD/ - ( S.RIFAUR RAHMAN ) (RAVISH SOOD) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI ; DATED: 11 .08 .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