PENINSULA LAND LTD , MUMBAI V. DY CIT CC 1 (3), MUMBAI

ITA 316/MUM/2020

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 4650 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 1 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-03-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2016-2017
• Appeal Filed On: 10-01-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: KUSHAL SHAH
• Keywords: Question of law; Competent authority; Condonation of delay
• Section: 20

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL , C BENCH MUMBAI BEFORE : SHRI M.BALAGANESH, A CCOUNTANT M EMBER & SHRI RAVISH SOOD , JUDICIAL MEMBER ITA NO. 316 /MUM/ 20 20 ( ASSESSMENT YEAR : 2016 - 1 7 ) M/S. PENINSULA LAND LTD., PENINSULA SPENTA, MAT HURADAS MILLS COMPOUND SENAPATI BAPAT MARG LOWER PAREL, MUMBAI - 400 013 VS. DY. CIT, CENTRAL CIRCLE 1(3) OLD CGO BUILDING, ANNEXE 9 TH FLOOR ROOM NO.905, M.K.ROAD MUMBAI 400 020 PAN/GIR NO. AAACT5173A (APPELLANT ) .. (RESPONDENT ) ITA NO. 702 /MUM/ 2020 ( A SSESSMENT YEAR : 2016 - 17 ) DY. CIT, CENTRAL CIRCLE 1(3) OLD CGO BUILDING, ANNEXE 9 TH FLOOR ROOM NO.905, M.K.ROAD MUMBAI 400 020 VS. M/S. PENINSULA LAND LTD., PENINSULA SPENTA, MATHURADAS MILLS COMPOUND SENAPATI BAPAT MARG LOWER PAREL, MUMBAI - 400 013 PAN /GIR NO. AAACT5173A (APPELLANT ) .. (RESPONDENT ) ASSESSEE BY SHRI KUSHAL SHAH REVENUE BY MS. SHREEKALA PARDESHI DATE OF HEARING 09 / 03 /202 1 DATE OF PRONOUNCEMENT 09 / 03 /202 1 ITA NO S . 316/MUM/2020 & 702/MUM/2020 M/S. PENINSULA LAND LTD., 2 / O R D E R PER M. BALAGANESH (A.M) : THESE CROSS APPEAL S IN ITA NO. 316/MUM/2020 & 702/MUM/2020 FOR A.Y. 2016 - 17 ARISE OUT OF THE ORDER BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 47, MUMBAI IN APPEAL NO. CIT(A) - 47/10263/2018 - 19 DATED 15/11/201 9 (LD. CIT(A) IN SHORT) AGAINST THE ORDER OF ASSESSMENT PASSED U/S.143(3) R.W.S. 142A OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS ACT) DATED 01/03/2019 BY THE LD. DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 1(3), MUMBAI (HEREINAFTER REFERRED TO AS LD. AO). 2 . AT THE OUTSET, THE LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT ASSESSEE HAD ALREADY FILED A DECLARATION UNDER VIVAD SE VISHWAS SCHEME TO SETTLE THE DISPUTES ARISING OUT OF THESE APPEALS. THIS IS CONSIDERED AS A STATEMENT MADE FROM THE BAR . 3 . WE HAVE HEARD RIVAL SUBMISSIONS AND PERUSED THE MATERIALS AVAILABLE ON RECORD. SINCE, THE ASSESSEE HAD ALREADY FILED AN APPLICATION UNDER DIRECT TAX VIVAD SE VISWAS SCHEME ACT 2020 , THERE IS NO NEED TO KEEP THE APPEAL PENDING BEFORE US IN VIEW OF THE DECISION OF HON'BLE MADRAS HIGH COURT IN THE CASE OF NANNUSAMY MOHAN (HUF) VS. ACIT IN T.C.A. NO.372 OF 2020 DATED 16.10.2020, WHEREIN THE HONBLE HIGH COURT AFTER CONSIDERING THE INTENTION OF THE ASSESSEE TO AVAIL THE BENEFIT OF VIVAD SE VISHWAS SCHEME - 2 020 (VSV SCHEME), HAD DISMISSED THE APPEAL BY OBS ERVING IN PARA 7 TO 9 AS UNDER: - 7. AS OBSERVED, THE ASSESSEE IS GIVEN LIBERTY TO RESTORE THIS APPEAL IN THE EVENT THE ULTIMATE DECISION TO BE TAKEN ON THE DECLARATION TO BE FILED BY THE ASSESSEE UNDER SEC TION 4 OF THE ITA NO S . 316/MUM/2020 & 702/MUM/2020 M/S. PENINSULA LAND LTD., 3 SAID ACT IS NOT IN FAVOUR OF THE ASSESSEE. IF SUCH A PRAYER IS MADE, THE REGISTRY SHALL ENTERTAIN THE PRAYER WITHOUT INSISTING UPON ANY APPLICATION TO BE FILED FOR CONDONATION OF DELAY IN RESTORATION OF THE APPEAL AND ON SUCH REQUEST MADE BY THE ASSESSEE BY FILING A MISCELLANEOUS PETITION FOR RESTORATION, THE REGISTRY SHALL PLACE SUCH PETITION BEFORE THE DIVISION BENCH FOR ORDERS. 8. IN THE LIGHT OF THE ABOVE, WE DIRECT THE APPELLANT/ ASSESSEE TO FILE THE FORM NO.I ON OR BEFORE 20.11.2020 AND THE COMPETENT AUTHORITY SHALL PROCESS THE APPLICATION/ DECLARATION IN ACCORDANCE WITH THE ACT AND PASS APPROPRIATE ORDERS AS EXPEDITIOUSLY AS POSSIBLE PREFERABLY WITHIN A PERIOD OF 6 (6) WEEKS FROM THE DATE ON WHICH THE DECLARATION IS FILED IN THE PROPER F ORM. 9. WITH THIS DECLARATION, THE TAX CASE APPEAL STANDS DISPOSED OF WITH THE AFOREMENTIONED LIBERTY AND CONSEQUENTLY THE SUBSTANTIAL QUESTION OF LAW ARE LEFT UPON. NO COSTS. 4 . IN THE LIGHT OF THE VIEW TAKEN BY HONBLE MADRAS HIGH COURT CITED (SUPRA), WE ALSO GIVE LIBERTY TO THE ASSESSEE TO GET THE APPEAL RESTORED IN THE EVENT THAT THE ASSESSEE DOES NOT SUCCEED ON THE DECLARATION FILED BY THE ASSESSEE UNDER DIRECT TAX VIVAD SE VISWAS SCHEME - 2020. IN OTHER WORDS IF THE ASSESSEES DECLARATION TO BE FILED IS NOT ACCEPTED BY THE REVENUE FOR ANY REASON WHATSOEVER, THE ASSESSEE CAN MAKE A PRAYER BEFORE THE BENCH FOR RECALLING OF THE ORDER BY FILING A MISCELLANEOUS APPLICATION FOR RESTORATION OF APPEAL. THE REGISTRY WILL PLACE SUCH PETITION BEFORE THE BENCH CON CERNED. 5 . IN VIEW OF THE AFORESAID OBSERVATIONS, WE DISMISS TH ESE CROSS APPEAL S WITH A LIBERTY TO GET THE M RECALLED IN THE EVENTUALITY OF ASSESSEES DECLARATION NOT GETTING ACCEPTED BY THE REVENUE. ITA NO S . 316/MUM/2020 & 702/MUM/2020 M/S. PENINSULA LAND LTD., 4 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE AS WELL AS THA T OF THE REVENUE ARE DISMISSED . ORDER PRONOUNCED IN OPEN COURT ON 09/03/2021. SD/ - (RAVISH SOOD) SD/ - (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED 09 / 03 / 2021 KARUNA , SR.PS COPY OF THE ORDER FORWARDED TO : BY ORDER, ( ASSTT. REGISTRAR) ITAT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//