MEDTECH LIFE PVT LTD, MUMBAI V. PR CIT 7, MUMBAI

ITA 347/MUM/2020

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 4469 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 4 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-05-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2015-2016
• Appeal Filed On: 13-01-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 263; 143(3)

Judgement Text

ITA NO. 347/MUM/2020 A.Y. 2015 - 16 MEDTECH LIFE PRIVATE LIMITED VS. PR. COMMISSIONER OF INCOME TAX - 7 1 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH D MUMBAI BEFORE SHRI M. BALAGANESH (ACCOUNTANT MEMBER) AND SHRI RAVISH SOOD (JUDICIAL MEMBER) ITA NO. 347/MUM/2020 (ASSESSMENT YEAR: 2015 - 16 ) MEDTECH LIFE PRIVATE LIMITED (FORMERLY KNOWN AS NULIFE GLOBAL MEDICAL DEVICE PVT. LTD.) B - 6, BYCULLA INDUSTRIAL ESTATE, SUSEX ROAD, BYCULLA, MUMBAI 400 027 VS. PR. COMMISSIONER OF INCOME TAX - 7 AAYAKAR BHAVAN, MUMBAI - 400020 PAN NO. AADCN1255C (ASSESSEE) (REVENUE) ASSESSEE BY : SHRI RAJESH, A.R REVENUE BY : SHRI BHARAT ANDHALE , D.R DATE OF HEARING : 26/04 /2021 DATE O F PRONOUNCEMENT : 21 /05 /2021 ORDER PER RAVISH SOOD, J.M: THE PRESENT APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST T HE ORDER PASSED BY THE PR. CIT - 7, MUMBAI , DATED 27.11.2019 UNDER SEC. 263 OF THE INCOME - TAX ACT, 1961 WHICH IN TURN ARISES FROM THE ASSESSMENT ORD ER PASSED BY THE A.O UNDER SEC. 143(3) OF T HE ACT , DATED 26.10.2017 FOR ASSESSMENT YEAR 2015 - 16 . 2. THE ASSESSEES COUNSEL HAS E - FILED A LETTER DATED 25 TH APRIL, 2021, WHEREIN IT IS STATED THAT THE ASSESSEE COMPANY HAS FILED AN APPLICATION UNDER THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 IN FORM 1 & FORM 2 IN ORDER TO SETTLE THE AFORESAID MAT TER PENDING BEFORE THE TRIBUNAL. IT IS FURTHER STATED THAT THE ASSESSEE COMPANY HAS BEEN ISSUED FORM 3 BY THE DESIGNATED AUTHORITY. 3. THE LD. D.R DID NOT CONTROVERT THE AFORESAID FACTUAL POSITION AS WAS STATED BEFORE US. 4. IN VIEW OF THE ABOVE, WE DISMISS THE APPEAL AS WITHDRAWN, SUBJECT TO A RIDER THAT IN THE UNLIKELY EVENT OF THE MATTER NOT BEING RESOLVED UNDER THE VIVAD SE VISHWAS SCHEME THE ASSESSEE SHALL HAVE LIBERTY TO APPROACH THE TRIBUNAL FOR RESTORATI ON OF ITS APPEAL. ITA NO. 347/MUM/2020 A.Y. 2015 - 16 MEDTECH LIFE PRIVATE LIMITED VS. PR. COMMISSIONER OF INCOME TAX - 7 2 5. RESULTANTLY, THE APPEAL IS DISMISSED AS WITHDRAWN SUBJECT TO THE OBSERVATION RECORDED HEREINABOVE. ORDER PRONOUN CED IN THE OPEN COURT ON 21 /05 /2021. SD/ - SD/ - ( M. BALAGANESH ) (RAVISH SOOD) ACCOUNTAN T MEMBER JUDICIAL MEMBER MUMBAI ; DATED: 21 . 0 5 .2021 PS: ROHIT COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A) - 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE . BY ORDER, //TRUE COPY// (SR. PRIVATE SECRETARY) ITAT, MUMBAI