M/s Centenary Arcades Private Limited , Bangalore V. Principal Commissioner of Income Tax , Bangalore

ITA 3378/BANG/2018

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 8495 (ITAT-BANGALORE)
• Duration Of Justice: 2 year(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-01-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 12-01-2021
• Assessment Year: 2014-2015
• Appeal Filed On: 21-12-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: PRADEEP KUMAR CIT BENGALURU
• Section: 254(2); 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH : BANGALORE BEFORE SHRI N. V. VASUDEVAN, VICE PRESIDENT AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER ITA NO. 3378 /BANG/20 1 8 ASSESSMENT YEAR : 2014-15 M/S. CENTANARY ARCADES PVT. LTD., NO.175, 6 TH CROSS, GANDHINAGAR, BENGALURU 560 009. PAN : A ABCC 6541 J VS. THE PRINCIPAL COMMISSIONER OF INCOME TAX, BENGALURU 2, BENGALURU 560 095. APPELLANT RESPONDENT ASSESSEE BY : SHRI. NARENDRA SHARMA, ADVOCATE REVENUE BY : SHRI. PRADEEP KUMAR, CIT (DR)(ITAT), BENGALURU DATE OF HEARING : 12.1.2021 DATE OF PRONOUNCEMENT : 12 .1.2021 O R D E R PER N. V. VASUDEVAN, VICE PRESIDENT THIS APPEAL FILED IS BY THE ASSESSEE AGAINST THE ORDER DATED 12.10.2018 OF PRINCIPAL CIT, BENGALURU-2, BENGALURU, PASSED UNDER SECTION 263 OF THE INCOME TAX ACT, 1961 (HEREINAFTER CALLED THE ACT) DATED 28.08.2018, RELATING TO ASSESSMENT YEAR 2014-15. 2. THE LEARNED AR OF THE ASSESSEE SUBMITTED THAT THE ASSESSEE HAS OPTED TO SETTLE THE DISPUTE IN THIS APPEAL UNDER THE DIRECT TAX VIVAD SE VISHWAS SCHEME, 2020 AND HAS ENCLOSED FORM NOS.1 AND 2. THE LEARNED AR HAS STATED THAT THE ASSESSEE IS AWAITING ACCEPTANCE OF THE FORM BY THE REVENUE AND HAS REQUESTED FOR ADJOURNMENT OF THE APPEAL. 3. IN THE COURSE OF HEARING, IT WAS THE PROPOSITION PUT FORWARD BY THE BENCH THAT UNDER THESE FACTS, THE APPEAL OF THE ASSESSEE MAY BE DISMISSED AS ITA NO.3378/BANG/2018 PAGE 2 OF 2 WITHDRAWN AND LIBERTY MAY BE GRANTED TO THE ASSESSEE TO APPROACH THIS TRIBUNAL FOR RECALL OF THIS ORDER UNDER SECTION 254(2) OF THE ACT IN CASE THE ASSESSEE FINALLY OPTS OUT OF VIVAD SE VISHWAS SCHEME, 2020. IN REPLY, IT WAS SUBMITTED BY LEARNED AR OF THE ASSESSEE THAT IF THE LIBERTY IS GRANTED TO THE ASSESSEE, THEN WE HAVE NO OBJECTION ABOUT DISMISSAL OF THE APPEAL AS WITHDRAWN. 4. THE APPEAL IS ACCORDINGLY DISMISSED AS WITHDRAWN. THE ASSESSEE IS HOWEVER AT LIBERTY TO SEEK RECALL OF THIS ORDER IN CASE THE ASSESSEE IS NOT ABLE TO SETTLE THE DISPUTE UNDER THE SCHEME. 5. IN THE RESULT, ASSESSEES APPEAL IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED ON THE CAPTION PAGE. SD/- SD/- SD/- SD/- BANGALORE, DATED: 12.1.2021. /NS/* COPY TO: 1. APPELLANTS 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR, ITAT, BANGALORE. ( CHANDRA POOJARI ) ( N. V. VASUDEVAN) ACCOUNTANT MEMBER VICE PRESIDENT