M/S.PRISM CONSTRUCTION, MUMBAI V. DCIT CC-7(4), MUMBAI

ITA 4433/MUM/2018

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 4877 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 7 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2013-2014
• Appeal Filed On: 09-07-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: KAPIL K JAIN
• Section: 271(1)(c)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH C MUMBAI BEFORE SHRI C.N. PRASAD (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) ITA NO. 4433/MUM/2018 ASSESSMENT YEAR: 2013-14 M/S PRISM CONSTRUCTION, 505/506, SHALIMAR MORYA PARK, NEW LINK ROAD, ANDHERI (W), MUMBAI-400053 VS. THE DEPUTY COMMISSIONER OF INCOME TAX OFFICE, CENTRAL CIRCLE-7(4), 6 TH FLOOR, AAYAKAR BHAVAN, M.K. ROAD, CHURCHGATE, MUMBAI-400020. PAN NO. AAHFP 8872 C APPELLANT RESPONDENT ASSESSEE BY : MR. KAPIL K. JAIN, AR REVENUE BY : MS. SHREEKALA PARDESHI, DR DATE OF HEARING : 11/02/2021 DATE OF PRONOUNCEMENT : 11/02/2021 ORDER PER N.K. PRADHAN, A.M. THIS IS AN APPEAL FILED BY THE ASSESSEE. THE RELEVA NT ASSESSMENT YEAR IS 2013-14. THE APPEAL IS DIRECTED AGAINST THE ORDER O F THE COMMISSIONER OF INCOME TAX (APPEALS)-49, MUMBAI [IN SHORT CIT(A)] AND ARISES OUT OF PENALTY LEVIED U/S 271(1)(C) THE INCOME TAX ACT 196 1, (THE ACT). 2. THE LD. COUNSEL FOR THE ASSESSEE SUBMITS THAT TH E APPELLANT HAS FILED DECLARATION IN FORM NO. 1 AND FORM NO. 2 UNDER THE DIRECT TAX VIVAD SE VISHWAS SCHEME , 2020 AND THEY HAVE RECEIVED FORM N O. 3 U/S 5(1) OF THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 FROM THE DESI GNATED AUTHORITY, ACCEPTING DECLARATION. A COPY OF FORM NO. 3 IS FILE D BY THE LD. COUNSEL. THUS IT IS STATED THAT THE PRESENT APPEAL BE WITHDRAWN. ITA NO. 4433/MUM/2018 M/S PRISM CONSTRUCTION 2 WE DREW THE ATTENTION OF THE LD. DEPARTMENTAL REP RESENTATIVE TO THE ABOVE SUBMISSION. 3. WE HAVE HEARD THE LD. COUNSELS AND PERUSED THE RELEVANT MATERIALS ON RECORD. THE GOVERNMENT OF INDIA ENACTED THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 (ACT NO. 3 OF 2020) TO PROVIDE FOR RESOLU TION OF DISPUTED TAX AND FOR MATTER CONNECTED THEREWITH OR INCIDENTAL THERET O. THE ACT OF THE PARLIAMENT RECEIVED THE ASSENT OF THE PRESIDENT ON 17.03.2020 AND WAS PUBLISHED IN THE GAZETTE OF INDIA ON 17.03.2020. IN TERMS OF THE SAID ACT, THE ASSESSEE HAS BEEN GIVEN AN OPTION TO PUT AN END TO THE TAX DISPUTES, WHICH MAY BE PENDING AT DIFFERENT LEVELS EITHER BEFORE TH E FIRST APPELLATE AUTHORITY OR BEFORE THE TRIBUNAL OR BEFORE THE HIGH COURT OR BEFORE THE SUPREME COURT OF INDIA. CONSIDERING THE STATEMENT OF THE LD. COUNSEL AND KE EPING IN VIEW THE DECISION OF THE HONBLE MADRAS HIGH COURT IN THE CA SE OF M/S NANNUSAMY MOHAN (HUF) V. ACIT (TCA NO. 372 OF 2020, ORDER DATED 16.10.2020), WE ARE INCLINED TO DISMISS THIS APPEAL FILED BY THE AS SESSEE AS WITHDRAWN. 4. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 11/02/2021. SD/- SD/- (C.N. PRASAD) (N.K. PRADH AN) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI; DATED: 11/02/2021 RAHUL SHARMA, SR. P.S. ITA NO. 4433/MUM/2018 M/S PRISM CONSTRUCTION 3 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// (DY./ASSISTANT REGISTRAR) ITAT, MUMBAI