Capricorn Projects (India) Limited , Hyderabad V. Income Tax Officer, Ward-1(4), Hyderabad

ITA 337/Hyd/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 9380 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 11 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-03-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-A
• Assessment Year: 2001-2002
• Appeal Filed On: 11-03-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: A V RAGHURAM
• Section: 271(1)(c)

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A, HYDERABAD (THROUGH VIRTUAL HEARING) BEFORE SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI S.S. GODARA, JUDICIAL MEMBER ITA NO. 337/HYD/2019 A.Y. 2001 - 02 M/S. CAPRICORN PROJECTS (INDIA) LIMITED, HYDERABAD. PAN: AABCC 6890 J VS. INCOME TAX OFFICER, WARD - 1(4), HYDERABAD. (APPELLANT) (RESPONDENT) ASSESSEE BY: SHRI A.V. RAGHURAM REVENUE BY: SHRI SUNIL KUMAR PANDEY, DR DATE OF HEARING: 02/03/2021 DATE OF PRONOUNCEMENT: 0 9 /03/2021 ORDER PER A. MOHAN ALANKAMONY , A.M: THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LD. CIT(A) - 8, HYDERABAD IN APPEAL NO. 0017/2017 - 18, DATED 24/01/2019 PASSED U/S. 271(1)(C) R.W.S 250(6) OF THE ACT FOR THE A.Y. 2001 - 02. 2. AT THE OUTSET, LD.AR SUBMITTED BEFORE US THAT THE ASSESSEE DESIRES TO WITHDRAW ITS APPEAL AS THE ASSESSEE HAS OPTED TO AVAIL VIVAD SE VIS WAS SCHEME. HE FURTHER SUBMITTED THAT THE ASSESSEE HA D FILED FORM 2 NO.1 & 2 AND IS AWAITING TO RECEIVE FORM - 3 FROM THE REVENUE. IT WAS THEREFORE PLEADED, THAT THE APPEAL OF THE ASSESSEE MAY BE ALLOWED TO BE WITHDRAWN. 3. THE LD. DR CONCEDED TO THE REQUE ST OF THE LD.AR. 4. HAVING HEARD BOTH THE PARTIES THROUGH VIDEO CONFERENCE, WE ARE INCLINED TO ALLOW THE APPEAL OF THE ASSESSEE TO BE WITHDRAWN YIELDING TO THE PRAYER OF THE LD. AR AS THE ASSESSEE HAS PREFERRED TO AVAIL THE VIVAD - SE - VISHWAS SCHEME BY FILI NG FORM NO.1 & 2 AND IS AWAITING TO RECEIVE FORM - 3 FROM THE REVENUE . THE LD. DR HAS ALSO CONCEDED TO THE REQUEST OF THE LD. AR. ACCORDINGLY, WE HEREBY DISMISS THE APPEAL OF THE ASSESSEE AS WITHDRAWN. HOWEVER, WE ALSO MAKE IT CLEAR THAT, IF THE ASSESSEES C ASE IS NOT ACCEPTED UNDER THE VIVAD - SE - VISHWAS SCHEME BY THE REVENUE FOR WHATSOEVER MAY BE THE REASON, THEN THE ASSESSEE SHALL BE AT LIBERTY TO FILE MISCELLANEOUS PETITION BEFORE THE TRIBUNAL WITHIN THE TIME LIMIT PRESCRIBED UNDER THE ACT TO REINSTATE THE APPEAL. IT IS ORDERED ACCORDINGLY. PRONOUNCED IN THE OPEN COURT ON THE FOURTH 09 TH OF MARCH, 2021. SD/ - SD/ - (S.S. GODARA) ( A. MOHAN ALANKAMONY ) JUDICIAL MEMBER ACCOUNTANT MEMBER 3 HYDERABAD, DATED: 0 9 TH MARCH , 2021. OKK COPY TO: - 1) M/S. CAPRICORN PRO9JECTS (INDIA) LIMITED, 1D, MARUTHI HEIGHTS, ROAD NO.1, BANJARA HILLS, HYDERABAD 500 034. 2) INCOME TAX OFFICER, WARD - 1(4), 7 TH FLOOR, I.T. TOWERS, AC GUARDS, HYDERABAD. 3) THE CIT(A) - 8, HYDERABAD . 4) THE PR. CIT - I, HYDERABAD. 5) THE DR, ITAT, HYDERABAD 6) GUARD FILE