M/s Ambika Bullion Trading private Limited , Bangalore V. Income Tax Officer Ward-1(1)(2), Bangalore

ITA 41/BANG/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 7038 (ITAT-BANGALORE)
• Duration Of Justice: 2 year(s) 3 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-04-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 05-04-2021
• Assessment Year: 2015-2016
• Appeal Filed On: 04-01-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: MUZAFFAR HUSSAIN
• Assessee Lawyers: MOHAMMED MUJASSIM

Judgement Text

ITA NO.41/BANG/2019 M/S. AMBIKA BULLION TRADING PVT. LTD., BENGALURU IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH: BANGALORE BEFORE SHRI B. R. BASKARAN, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA NO.41/BANG/2019 ASSESSMENT YEAR: 2015-16 M/S. AMBIKA BULLION TRADING PVT. LTD. NO.1, MDP MARKET, BETTAPALANE C.T. STREET CROSS BENGALURU PAN NO : AAMCA4556F VS. ITO WARD-1(1)(2) BENGALURU APPELLANT RESPONDENT APPELLANT BY : SHRI MOHAMMED MUJASSIM, A.R. RESPONDENT BY : SHRI MUZAFFAR HUSSAIN, D.R. DATE OF HEARING : 05.04.2021 DATE OF PRONOUNCEMENT : 05.04.2021 O R D E R PER B.R. BASKARAN, ACCOUNTANT MEMBER: THE ASSESSEE HAS FILED THIS APPEAL CHALLENGING THE ORDER DATED 24.10.2018 PASSED BY LD CIT(A)-1, BENGALURU AND IT RELATES TO THE ASSESSMENT YEAR 2015-16. 2. THE LD COUNSEL FOR THE ASSESSEE HAS FURNISH ED A LETTER STATING THAT THE ASSESSEE HAS OPTED TO SETTLE THE DISPUTE U NDER DIRECT TAX VIVAD SE VISHWAS ACT FOR SETTLEMENT OF THE DISPUTE BY FILING FORM NO.1 & 2 AND AWAITING FOR FORM NO.3. ACCORDINGLY THE LD A.R HAS SOUGHT ADJOURNMENT OF THE CASE. ITA NO.41/BANG/2019 M/S. AMBIKA BULLION TRADING PVT. LTD., BENGALURU PAGE 2 OF 3 3. THE LD D.R, HOWEVER, SUBMITTED THAT THE ASSES SEE HAS TO WITHDRAW THE PENDING APPEAL AFTER FILING FORM VSV1 AS PER DIRECT TAX VIVAD SE VISHWAS ACT, 2020. THEREAFTER, THE ASSESS EE IS REQUIRED TO FURNISH A COPY OF THE SAME ALONG WITH THE PROOF OF PAYMENT OF TAX AS DETERMINED BY THE TAX OFFICIAL TO THE DEPARTMENT. ACCORDINGLY HE SUBMITTED THAT THE APPEAL OF THE ASSESSEE MAY BE DI SMISSED AS WITHDRAWN, AS THE ASSESSEE, IN ANY WAY, IS REQUIRED TO WITHDRAW THE APPEAL. HE SUBMITTED THAT THE BANGALORE BENCH OF T RIBUNAL IS GIVING LIBERTY TO THE ASSESSEE TO SEEK RECALL OF THE ORDER , IF SO WARRANTED. 4. WE HEARD THE PARTIES AND PERUSED THE RECORD. SINCE THE ASSESSEE HAS OPTED TO SETTLE THE DISPUTE UNDER DIRECT TAX VI VAD SE VISHWAS ACT, 2020, THE APPELLANT WOULD BE MOVING APPLICATIO N FOR WITHDRAWING THE PRESENT APPEAL FILED BEFORE THE TRIBUNAL IN DUE COURSE. ACCORDINGLY, WE ARE OF THE VIEW THAT NO PURPOSE WIL L BE SERVED IN KEEPING THIS APPEAL PENDING. ACCORDINGLY WE DISMIS S THE APPEAL OF THE ASSESSEE AS WITHDRAWN. HOWEVER, THE ASSESSEE IS GIVEN LIBERTY TO MOVE APPROPRIATE APPLICATION FOR RECALL OF THE PRES ENT ORDER IN ACCORDANCE WITH THE LAW, IF THE ASSESSEE INTENDS TO DO SO. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE I S DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 5 TH APR, 2021 SD/- (BEENA PILLAI) JUDICIAL MEMBER SD/- (B.R. BASKARAN) ACCOUNTANT MEMBER BANGALORE, DATED 5 TH APR, 2021. VG/SPS ITA NO.41/BANG/2019 M/S. AMBIKA BULLION TRADING PVT. LTD., BENGALURU PAGE 3 OF 3 COPY TO: 1. THE APPLICANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT(A) 5. THE DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASST. REGISTRAR, ITAT, BANGALORE.