The Deputy Commissioner of Income Tax, Central Circle-2, Guntur V. Madana Veera Reddy, Guntur

ITA 444/VIZ/2019

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 5975 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 1 year(s) 7 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-02-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2016-2017
• Appeal Filed On: 27-06-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: T.S.N. MURTHY
• Section: 20

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM (T HROUGH WEB - BASED VIDEO CONFERENCING PLATFORM) BEFORE SHRI N.K. CHOUDHRY, HONBLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, HON'BLE ACCOUNTANT MEMBER I . T . A . NO. 444 / VIZ /2019 (ASST. YEAR : 20 1 6 - 1 7 ) DCIT, CENTRAL CIRCLE - 2, GUNTUR. VS. MADANA VEERA REDDY THROUGH L/H MADANA NAGI REDDY, D.NO. 3 - 56, OPP. RAMALAYAM GORANTLA, GUNTUR. PAN NO. AFYPN 9632 G (RESPONDENT) (APPELLANT ) C.O.NO. 134/VIZ/2019 (ARISING OUT OF I.T.A. NO. 444/VIZ/2019) (ASST. YEAR : 2016 - 17 ) MADANA VEERA REDDY THROUGH L/H MADANA NAGI REDDY, D.NO. 3 - 56, OPP. RAMALAYAM GORANTLA, GUNTUR. PAN NO. AFYPN 9632 G VS. DCIT, CENTRAL CIRCLE - 2, GUNTUR. (RESPONDENT) (APPLICANT ) ASSESSEE BY : SHRI I.KAMA SASTRY , C A . DEPARTMENT BY : SHRI T.S.N. MURTHY , CIT DR DATE OF HEARING : 29 / 0 1 /2021 . DATE OF PRONOUNCEMENT : 03 / 0 2 /20 2 1 . 2 ITA NO. 444 /VIZ/20 19 C.O.NO.134/VIZ/2019 ( MADANA VEERA REDDY THROUGH L/H MADANA NAGI REDDY ) O R D E R PER N.K. CHOUDHRY, JUDICIAL MEMBER: THIS APPEAL HAS BEEN PREFERRED BY THE REVENUE AND THE CROSS OBJECTION HAS BEEN PREFERRED BY THE ASSESSEE AGAINST THE ORDER DATED 27/03/2019 IMPUGNED HEREIN PASSED BY THE LD. CIT(A) - 3, VISAKHAPATNAM U/SEC. 250(6) OF THE INCOME TA X ACT, 1961 (HEREINAFTER REFERRED TO AS THE 'ACT') FOR THE A.Y. 2016 - 17 . 2. THE A SSESSEE HA S PREFERRED AN APPLICATION UNDER CONSIDERATION DATED 25/01/2021 FOR WITHDRAWAL OF THE CROSS OBJECTION . 3. AT THE OUTSET , L D. COUNSEL FOR THE A SSESSEE HAS SUBMITTED THAT SINCE A SSESSEE HA S AVAILED THE IMMUNITY SCHEME I.E . VIVAD SE VISHWAS UNDER T HE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 AND T HE INCOME TAX DEPARTMENT HAS ISSUED FORM NO.3 , DATED 07/01/2021 IN RESPONSE TO THE APPLICATION FILED BY THE A SSESSEE UNDER THE SCHEME, THEREFORE CROSS OBJECTION OF THE A SSESSEE MAY BE ALLOWED TO BE DISMISSED AS WITHDRAWN AND ALSO REQUESTED THE BENCH TO DISMISS THE APPEAL OF THE REVENUE AS INFRUCTUOUS. 4. THE LD. DR HAS RAI SED NO OBJECTION, IF THE CROSS OBJECTION OF THE A SSESSEE IS ALLOWED TO BE DISMISSED AS WITHDRAWN AND ALSO APPEAL OF THE REVENUE MAY BE DISMISS ED AS INFRUCTUOUS WITH LIBERTY TO SEEK RECALL OF THE ORDER IN CASE ANY UNFORESEEN CIRCUMSTANCES WOULD ARISE IN FUTURE. 5. HAVING HEARD BOTH THE PART IES AND PERUSED THE APPLICATION FOR WI THDRAWAL OF THE CROSS OBJECTION AND FORM NO. 3 (COPY ALREADY ON RECORD) ISSUED BY THE DEPARTMENT. CONSIDERING THE FACT S AND 3 ITA NO. 444 /VIZ/20 19 C.O.NO.134/VIZ/2019 ( MADANA VEERA REDDY THROUGH L/H MADANA NAGI REDDY ) CIRCUMSTANCES OF THE CASE , THE CROSS OBJECTION OF THE ASSESSEE IS LIABLE TO BE DIS MISSED AS WITHDRAWN AND THE APPEAL OF THE REVENUE IS ALSO LIABLE TO BE DISMISSED AS INFRUCTUOUS WITH LIBERTY TO SEEK RECALL OF THE ORDER AS PRAYED FOR IN ACCORDANCE WITH LAW, HENCE ORDERED ACCORDINGLY . 6. IN THE RESULT, APPEAL OF THE REVENUE STANDS DISMISSED AS INFRUCTUOUS AND THE CROSS OBJECTION OF THE ASSESSEE STANDS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN OPEN COURT ON THIS 0 3 R D DAY OF FEB ., 2021 . S D / - S D / - ( D.S.SUNDER SINGH) ( N.K.CHOUDHRY ) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 0 3 R D FEBRUARY , 2021 . VR/ - COPY TO: 1. THE ASSESSEE MADANA VEERA REDDY THROUGH L/H MADANA NAGI REDDY, D.NO. 3 - 56, OPP. RAMALAYAM GORANTLA, GUNTUR. 2. THE REVENUE DCIT, CENTRAL CIRCLE - 2, GUNTUR. 3. THE PR.CIT (CENT R AL) , VISAKHAPATNAM . 4. THE CIT(A) - 3 , VISAKHAPATNAM . 5. THE D.R., VISAKHAPATNAM. 6. GUARD FILE. BY ORDER (VUKKEM RAMBABU) SR. PRIVATE SECRETARY, ITAT, VISAKHAPATNAM.