M/s. Accord Industries Limited, Vadodara V. DCIT, Central Circle-1(1)(1), Vadodara

ITA 460/AHD/2019

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 8877 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 4 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-08-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2013-2014
• Appeal Filed On: 19-03-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S S SHUKLA
• Assessee Lawyers: KETAN SINGH
• Section: 143(3)

Judgement Text

, A IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT) BEFORE SHRI RAJPAL YADAV, VICE-PRESIDENT AND SHRI WASEEM AHMED, ACCOUNTANT MEMBER ITA NO.460/AHD/2019 / ASSTT.YEAR : 2013-14 M/S.ACCORD INDUSTRIES LTD. 15, ALINDRA, GIDC, MANJUSAR SAVLI, VADODARA 391 775 GUJARAT. PAN : AAECA 2117 R VS. DCIT, CENT.CIR.1(1)(1) VADODARA. ( APPLICANT ) ( RESPONENT ) ASSESSEE BY : SHRI KETAN SINGH, AR REVENUE BY : SHRI S.S. SHUKLA, SR.DR / DATE OF HEARING : 11/08/2021 / DATE OF PRONOUNCEMENT: 11/08/2021 !'/ O R D E R PER RAJPAL YADAV, VICE-PRESIDENT: THE ABOVE APPEAL FILED BY THE ASSESSEE ARISES FROM ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-1, VADODARA DA TED 5.2.2019 FOR ASSESSMENT YEAR 2013-14. 2. WHEN THE MATTER WAS CALLED FOR HEARING, IT IS NO TICED THAT THE ASSESSEE HAS FILED A LETTER FOR WITHDRAWAL OF APPEA L UNDER DIRECT TAX VIVAD SE VISHWAS ACT, 2020. CONTENTS OF THE LETTER READ AS UNDER: AN ASSESSMENT U/S. 143(3) R.W.S 147 HAS BEEN FRAME D IN CASE OF ABOVEMENTIONED ASSESSEE FOR A.Y. 2013-14 ON 12,12.2 019. A DEMAND NOTICE U/S.156 OF RS.41,84,400/-WAS ALSO ISSUED TO THE APPELLANT ALONG WITH THE ASSESSMENT ORDER. ITA NO.460/AHD/2019 2 THE ASSESSEE HAS ALSO PREFERRED AN APPEAL BEFORE HO N'BLE CIT[A)-2, VADODARA AGAINST THE ASSESSMENT FRAMED BY YOUR HONO UR. THE APPEAL WAS PARTLY ALLOWED. THERE AFTER THE ASSESSEE HAS PREFERRED AN APPEAL BEFORE HON'BLE ITAT, AHMEDABAD. HOWEVER, IN ORDER TO GET RID OF LITIGATIONS, THE ASSESSEE WOULD LIKE TO OPT FOR A NEW SCHEME OF 'VIVAD SE VISHWAS' PROPOSED BY HON'BLE FINANCE MINI STER, INDIA ON 01.02.2020 AND PAY THE 'TAXES' ON OR BEFORE SPECIFI ED TIME. WE HERBY ATTACHED COPY OF FORM-3 UNDER VIVAD SE VISHWAS SCHE ME AT ANNEXURE-1. ALONG WITH THE APPLICATION THE ASSESSEE FILED COPY OF FORM NO.3 ISSUED UNDER SUB-SECTION (1) OF SECTION 5 OF THE AC T, 2020. IN OTHER WORDS, THE ASSESSEE WANTS TO RESOLVE THE ISSUE WITH THE DEPARTMENT BY AVAILING BENEFIT UNDER VIVAD SE VISHWAS SCHEME, AND NECESSARY FORMALITIES HAVE BEEN COMPLETED, AND THEREFORE, THE APPEAL OF THE ASSESSEE REQUIRES TO BE WITHDRAWN IN TERMS OF SCHEM E. THE LD.DR HAS NO OBJECTION IF THE APPEAL OF THE ASSESSEE IS TREAT ED TO BE WITHDRAWN IN TERMS OF SCHEME OPTED BY THE ASSESSEE. 3. IN THE LIGHT OF THE ABOVE SUBMISSION MADE BY ASS ESSEE, WE FIND NO REASON TO KEEP PENDING APPEAL OF THE ASSESSEE BE FORE THE TRIBUNAL. ACCORDINGLY, THE APPEAL OF THE ASSESSEE STANDS DISM ISSED. HOWEVER, IN THE EVENT, THE ASSESSEE FAILS TO AVAIL THE BENEFIT OF VSV SCHEME FOR ANY REASONS, THEN THE ASSESSEE WILL BE AT LIBERTY T O SEEK RESTORATION OF ORIGINAL APPEAL FOR ADJUDICATION BEFORE ITAT IN ACC ORDANCE WITH LAW. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE STANDS DISMISSED UNDER VSV SCHEME. ORDER PRONOUNCED IN THE COURT ON 11 TH AUGUST, 2021 AT AHMEDABAD. (WASEEM AHMED) ACCOUNTANT MEMBER (RAJPAL YADAV) VICE-PRESIDENT AHMEDABAD; DATED 11 /08/2021