The Deputy Commissioner of Income Tax, Circle-1(1), , Guntur V. Bitcorp Private Limited, Guntur

ITA 330/VIZ/2019

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 4273 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 1 year(s) 8 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-02-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2016-2017
• Appeal Filed On: 24-05-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: B.SATYANARAYANA RAJU

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM , . . , BEFORE SHRI N.K.CHOUDHRY, HONBLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, HONBLE ACCOUNTANT MEMBER ./ I.T. A.NO. 330 /VIZ/2019 ( / A SSESSMENT Y EAR : 2016 - 17 ) DY.COMMISSIONER OF INCOME TAX CIRCLE - 1(1) GUNTUR VS . M/S BITCORP PRIVATE LTD 08 - 14 - 28, TOBACCO COLONY MANGALAGIRI ROAD GUNTUR [PAN : AADCB4080D] ( / APPELLANT) ( / RESPONDENT) / APPELLANT BY : SHRI B.SATYANARAYANA RAJU , D R / RESPONDENT BY : NONE / DATE OF HEARING : 15 .02.2021 / DATE OF PRONOUNCEMENT : 15 .02.2021 / O R D E R P ER D.S.SUNDER SINGH , ACCOUNTANT MEMBER : TH IS APPEAL IS FILED BY THE REVENUE AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) [CIT(A)] - 1, GUNTUR IN APPEAL NO.10151/2018 - 19 DATED 14.03.2019 FOR THE ASSESSMENT YEAR (A.Y.) 2016 - 17. 2. WHEN TH IS AP PEAL IS TAKEN UP FOR HEARING, IT IS OBSERVED THAT THE LD.AR HAS FILED A LETTER STATING THAT THE ASSESSEE PREFERRED AN APPLICATION 2 I.T.A. NO . 330 /VIZ/20 19 , A.Y.20 1 6 - 17 M/S BITCORP PRIVATE LTD ., VISAKHAPATNAM U/SEC. 4(2) OF VIVAD SE VISHWAS ACT, 2020 AND THE PRINCIPAL COMMISSIONER (CENTRAL), VISAKHAPATNAM WAS PLEASED TO ISSUE A C ERTIFICATE IN FORM NO.3 ON 28.01. 202 1 . FORM NO.3 IS A CERTIFICATE UNDER SUB - SECTION (1) OF SECTION 5 OF THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020, WHICH IS BEING ISSUED BY THE PRINCIPAL COMMISSIONER OF INCOME TAX DETERMINING THE TOTAL TAX PAYABLE BY THE ASSESSEE IN RESPONSE TO THE APPLICATION MADE BY THE ASSESSEE. THUS, THE TAX DISPUTE STANDS SETTLED UNLESS THE CERTIFICATE IS WITHDRAWN OR CANCELLED BY THE DEPARTMENT. THEREFORE, ONCE THE FORM NO.3 IS ISSUED BY THE PR. COMMISSIONER, THE APPEAL SHALL BE DEEMED TO HAVE BE EN WITHDRAWN FROM THE DATE ON WHICH FORM NO.3 IS FILED . THE LD.DR DID NOT OBJECT FOR DISMISSAL OF APPEAL, HOW EVER, SUBMITTED THAT APPEAL MAY BE RECALLED IN CASE THE CERTIFICATE ISSUED BY THE PR. COMMISSIONER IS WITHDRAWN AT A FUTURE DATE DUE TO ANY UNFORESEEN CONTINGENCIES. 3. WE HAVE HEARD THE LD.DR AND GONE THROUGH THE FORM NO.3 AND ALSO THE PETITION FILED BY THE ASSESSEE PRAYING FOR DISMISSAL OF THE DEPARTMENTAL APPEAL AS THE ISSUE IS SETTLED UNDER VIVAD SE VISHWAS SCHEME. DURING THE APPEAL HEARING, THE LD.DR DID NOT OBJECT FOR DISPOSAL OF THE APPEAL AS REQUESTED BY THE ASSESSEE, SINCE, THE PR.CIT HAD ISSUED FORM NO.3 DETERMINING THE TOTAL TAX LIABILITY AS PER SUB SECTION (1) OF SECTION 5 OF 3 I.T.A. NO . 330 /VIZ/20 19 , A.Y.20 1 6 - 17 M/S BITCORP PRIVATE LTD ., VISAKHAPATNAM VIVAD SE VISHWAS ACT TOWARDS FULL AND FINAL SETTLEMENT OF THE TAX DUES. SINCE, THE DISPUTE IS SETTLED UNDER THE VIVAD SE VISHWAS SCHEME AND ACCEPTED BY THE PR.CIT, THE AP PEAL FILED BY THE DEPARTMENT BECOMES INFRUCTUOUS, HENCE THE SAME IS DISMISSED. H OWEVER, IT IS OPEN TO THE DEPARTMENT TO FILE AN APPROPRIATE APPLICATION BEFORE THE TRIBUNAL IN CASE THE CERTIFICATE ISSUED BY THE PR. COMMISSIONER IS WITHDRAWN AT A FUTURE DATE DUE TO NON PAYMENT OF TAXES AS SPECIFIED IN FORM NO.3 OR ANY UNFORESEEN CONTINGENCIES. ACCORDINGLY, THE APPEAL FILED BY THE DEPARTMENT IS DISMISSED AS INFRUCTUOUS. 5. IN THE RESULT, REVENUES APPEAL IS DISMISSED AS INFRUCTUOUS. ORDER PRONOUNCED IN THE OPEN COURT ON 15 TH FEBRUARY, 2021. SD/ - SD/ - ( ) ( . . ) (N.K.CHOUDHRY) (D.S.SUNDER SINGH) / JUDICIAL MEMBER / ACCOUNTANT MEMBER DATED : 15 .02.2021 L.RAMA, SPS 4 I.T.A. NO . 330 /VIZ/20 19 , A.Y.20 1 6 - 17 M/S BITCORP PRIVATE LTD ., VISAKHAPATNAM / COPY OF THE ORDER FORWARDED TO : - 1 . / THE REVENUE DY.COMMISSIONER OF INCOME TAX , CIRCLE - 1(1), GUNTUR 2 . / THE ASSESSEE M/S BITCORP PRIVATE LTD, 08 - 14 - 28, TOBACCO COLONY, MANGALAGIRI ROAD, GUNTUR 3 . THE PR. COMMISSIONER OF INCOME TAX , GUNTUR 4. THE COMMISSIONER OF INCOME TAX (APPEALS) - 1, GUNTUR 5 . , , / DR, ITAT, VISAKHAPATNAM 6 . / GUARD FILE / BY ORDER // TRUE COPY // SR. PRIVATE SECRETARY ITAT, VISAKHAPATNAM