THE ADIT (IT)-3(2), MUMBAI V. M/S. NAGASE & CO. LTD, MUMBAI

ITA 366/MUM/2006

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 7372 (ITAT-MUMBAI)
• Duration Of Justice: 15 year(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-01-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: L
• Next Hearing Date: 22-06-2017
• Assessment Year: 2000-2001
• Appeal Filed On: 13-01-2006
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL I BENCH, MUMBAI , , BEFORE HONBLE SHRI MAHAVIR SINGH, VP AND HONBLE SHRI MANOJ KUMAR AGGARWAL, AM (HEARING THROUGH VIDEO CONFERENCING MODE) 1. ./ I.T.A. NO.116/MUM/2006 ( / ASSESSMENT YEAR: 1999-2000) & 2. ./ I.T.A. NO.117/MUM/2006 ( / ASSESSMENT YEAR: 2000-01) & 3. ./ I.T.A. NO.1801/MUM/2007 ( / ASSESSMENT YEAR: 1999-2000) & 4. ./ I.T.A. NO.1802/MUM/2007 ( / ASSESSMENT YEAR: 2000-01) NAGASE AND COMPANY LIMITED C/O. S.R. BATLIBOI & CO 14 TH FLOOR, THE RUBY 29 SENAPATI BAPAT MARG DADAR (W), MUMBAI-400 028. / VS. ASSTT. DIRECTOR OF INCOME TAX (INTERNATIONAL TAXATION)-RANGE-3 (1) MITTAL COURT, NARIMAN POINT MUMBAI-400 021. !' ./ ./PAN/GIR NO. AABCN-2879-G ( '$ /APPELLANT ) : ( %&'$ / RESPONDENT ) & 5. ./ I.T.A. NO.370/MUM/2006 ( / ASSESSMENT YEAR: 1999-2000) & 6. ./ I.T.A. NO.366/MUM/2006 ( / ASSESSMENT YEAR: 2000-01) ASSTT. DIRECTOR OF INCOME TAX (INTERNATIONAL TAXATION)-RANGE-3 (1) MITTAL COURT, NARIMAN POINT MUMBAI-400 021. / VS. NAGASE AND COMPANY LIMITED C/O.S.R. BATLIBOI & CO 14 TH FLOOR, THE RUBY, 29 SENAPATI BAPAT MARG DADAR (W), MUMBAI-400 028. !' ./ ./PAN/GIR NO. AABCN-2879-G ( '$ /APPELLANT ) : ( %&'$ / RESPONDENT ) 2 ASSESSEE BY : SHRI NITESH JOSHI-LD. AR REVENUE BY : SHRI VIJAY KUMAR SUBRAMANIAN- LD. DR / DATE OF HEARING : 20/01/2021 / DATE OF PRONOUNCEMENT : 20/01/2021 / O R D E R PER BENCH 1. THE CAPTIONED CROSS-APPEALS FOR VARIOUS ASSESSME NT YEARS CONTEST SEPARATE ORDERS OF LEARNED FIRST APPELLATE AUTHORITY ON CERTAIN GROUNDS AS MENTIONED ALONG WITH FORM 36. 2. THE LD. COUNSEL FOR ASSESSEE, SHRI NITESH JOSHI, AT THE OUTSET, SUBMITTED THAT THE ASSESSEE HAS ALREADY OPT ED FOR SETTLEMENT OF DISPUTE FOR ALL THESE YEARS UNDER DIR ECT TAX VIVAD SE VISHWAS SCHEME (VVS SCHEME), 2020 AND THEREFORE, THE APPEALS MAY BE DISMISSED WITH A LIBERTY TO SEEK RESTORATION IN CASE THE ASSESSEE DO NOT SUCCEED THEREIN. THE LD. DR ALSO RA ISED SIMILAR PLEA. 3. SINCE THE ASSESSEE HAS ALREADY OPTED FOR SETTLEM ENT OF DISPUTE AS AFORESAID, ALL THE APPEALS STAND DISMISS ED AS WITHDRAWN WITH LIBERTY TO ASSESSEE-APPELLANT AS WELL AS REVEN UE-APPELLANT TO SEEK RESTORATION OF THE APPEALS IN CASE THE AFORESA ID DECLARATION FILED UNDER THE SCHEME IS NOT ACCEPTED, FOR WHATEVE R REASONS. 3 4. ALL THE APPEALS STAND DISMISSED AS WITHDRAWN IN TERMS OF OUR ABOVE ORDER. ORDER PRONOUNCED ON 20 TH JANUARY, 2021. SD/- SD/- (MAHAVIR SINGH) (MANOJ KUMAR AGGARWAL) / VICE PRESIDENT / ACCOUNTANT MEMBER MUMBAI; DATED : 20/01/2021 SR.PS, JAISY VARGHESE / COPY OF THE ORDER FORWARDED TO : 1. '$ / THE APPELLANT 2. %&'$ / THE RESPONDENT 3. - ( ) / THE CIT(A) 4. - / CIT CONCERNED 5. ./% ( 0 , 0 , / DR, ITAT, MUMBAI 6. /123 / GUARD FILE / BY ORDER, / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI.