M/S MEDASA INVESTMENT PVT. LTD, MUMBAI V. ITO, 10(2)(4), MUMBAI

ITA 3212/MUM/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 3675 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-05-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2013-2014
• Appeal Filed On: 14-05-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: THAMIAN OOMMEN
• Assessee Lawyers: WITHDRAWAL LETTER DT
• Section: 143(3); 250; 254(2)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI BEFORE SHRI M BALAGANESH, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA NO. 3212/MUM/2019 (A.Y: 2013-14) M/S. MEDASA INVESTMENT PVT LTD., D-112, CRYSTAL PLAZA, LINK ROAD, ANDHERI MUMBAI 400053. VS. ITO 10(2)(4) AAYAKAR BHAVAN, R.NO. 213, MK ROAD, MUMBAI 400020. ./ ./ PAN/GIR NO. : AACCM6206H APPELLANT .. RESPONDENT APPELLANT BY : WITHDRAWAL LETTER DT 26.03.2021 RESPONDENT BY : SHRI THAMIAN OOMMEN, DR DATE OF HEARING 31 .0 5 .2021 DATE OF PRONOUNCEMENT 31 .0 5 .2021 / O R D E R PER PAVAN KUMAR GADALE, JM: THE ASSESSEE HAS FILED THE APPEAL AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) - 51, MUMB AI, PASSED U/S. 143(3) AND 250 OF THE INCOME TAX ACT, 1 961. 2. AT THE TIME HEARING, THE ASSESSEE HAS FILED A L ETTER DT 26-03-2021 MENTIONING THAT IT INTEND TO SETTLE T HE TAX LITIGATION BY OPTING FOR VIVAD SE VISHWAS SCHEME 2 020 (VSVS2020) AND FILED AN APPLICATION IN FORM NO. 1 & 2 ITA NO. 3212/MUM/2019 MEDASA INVESTMENT PVT LTD., MUMBAI - 2 - UNDER VSVS RULES 2020. CONTRA, THE LD.DR HAS NO OBJECTIONS. 3. WE HEARD THE LD DR AND PERUSED THE MATERIAL ON RECORD. SINCE THE ASSESSEE HAS FILED A LETTER ON 26.03.2021 AND HAS OPTED FOR VIVAAD SE VISHWAS SCHEME 2020 AND HAS RECEIVED FORM-3 FROM THE INCOM E TAX DEPARTMENT. WE ARE OF THE VIEW THAT, NO PURPOSE WILL BE SERVED IN KEEPING THE APPEAL PENDING. ACCORDING LY, WE DISMISS THE APPEAL OF THE ASSESSEE AS WITHDRAWN AND THE ASSESSEE IS GIVEN LIBERTY TO MOVE AN APPLICATION U/ S 254(2) OF THE ACT TO RECALL THE PRESENT ORDER AS PE R PROVISIONS OF LAW. 4. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 31.05.2021 SD/- SD/- (M BALAGANESH) (PAVAN KUMAR GADALE) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED 31.05.2021 KRK, PS ITA NO. 3212/MUM/2019 MEDASA INVESTMENT PVT LTD., MUMBAI - 3 - / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. / THE CIT(A) 4. ( ) / CONCERNED CIT 5. '#$%&&' , )* , / DR, ITAT, MUMBAI 6. %-./0 / GUARD FILE. / BY ORDER, '& //TRUE COPY// 1. ( ASST. REGISTRAR) ITAT, MUMBAI