M/s HBN Housing Finance Ltd., New Delhi V. ACIT, New Delhi

ITA 4733/DEL/2013

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 6865 (ITAT-DELHI)
• Duration Of Justice: 7 year(s) 5 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-01-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2008-2009
• Appeal Filed On: 07-08-2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RAJESH KUMAR SENIOR
• Keywords: Set aside

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH C : NEW DELHI) BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER AND SHRI KULDIP SINGH, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCE) ITA NO.4733/DEL./2013 (ASSESSMENT YEAR : 2008-09) M/S. HBN HOUSING FINANCE LTD., VS. ACIT, CENTRAL CI RCLE 4, B 53, B 1, COMMUNITY CENTRE, NEW DELHI. JANAKPURI, NEW DELHI. (PAN : AABCH3930J) ITA NO.4573/DEL./2013 (ASSESSMENT YEAR : 2008-09) ACIT, CENTRAL CIRCLE 4, VS. M/S. HBN HOUSING FINAN CE LTD., NEW DELHI. B 53, B 1, COMMUNITY CENTRE, JANAKPURI, NEW DELHI. (PAN : AABCH3930J) (APPELLANT) (RESPONDENT) ASSESSEE BY : MS. GUNJAN JAIN, CA REVENUE BY : SHRI RAJESH KUMAR, SENIOR DR DATE OF HEARING : 28.01.2021 DATE OF ORDER : 28.01.2021 O R D E R PER KULDIP SINGH, JUDICIAL MEMBER : APPELLANTS, M/S. HBN HOUSING FINANCE LTD. (HEREINAF TER REFERRED TO AS THE ASSESSEE) AND ACIT, CENTRAL CI RCLE 4, NEW DELHI (HEREINAFTER REFERRED TO AS THE REVENUE), I N ITA ITA NO.4733/DEL./2013 ITA NO.4573/DEL./2013 2 NOS.4733/DEL/2013 & 4573/DEL/2013 RESPECTIVELY, BY FILING THE PRESENT APPEALS, SOUGHT TO SET ASIDE THE IMPUGNED O RDER DATED 01.04.2013 PASSED BY LD. COMMISSIONER OF INCOME-TAX (APPEALS)- XXXIII, NEW DELHI QUA THE ASSESSMENT YEAR 2008-09. 2. LD. COUNSEL FOR THE ASSESSEE FILED AN APPLICATIO N IN ITA NO.4573/DEL/2013 STATING THEREIN THAT THE ASSESSEE HAS OPTED TO SETTLE THE DISPUTE RELATING TO THE TAX ARREARS FOR THE ASSESSMENT YEAR UNDER CONSIDERATION UNDER THE VIVAD SE VISHWAS SCH EME, 2020 AND HAS FILED NECESSARY FORMS 1 & 2 WITH THE TAX DE PARTMENT. 3. KEEPING IN VIEW THE AFORESAID FACTS, APPEAL BEIN G ITA NO.4573/DEL/2013 IS HEREBY DISMISSED WITH LIBERTY T O GET IT RESTORED BY THE REVENUE IN CASE DISPUTE IS NOT SETT LED AS PER SCHEME. THE REVENUE HAS NO OBJECTION WITH REGARD T O THE AFORESAID CAVEAT. CONSEQUENTLY, THE PRESENT APPEAL (ITA NO.4573/DEL/2013) IS DISMISSED TO ENABLE THE PARTIE S TO OPT FOR VIVAD SE VISHWAS SCHEME, 2020. 4. SINCE BOTH THE APPEALS ARE INTERCONNECTED HAVING BEEN EMANATED FROM THE SAME IMPUGNED ORDER PASSED BY THE LD. CIT (A) QUA THE SUBJECT MATTER OF WHICH PARTIES OPTED FOR T HE SCHEME, THE SECOND APPEAL (ITA NO.4733/DEL/2013) FILED BY THE A SSESSEE HAS ALSO BECOME INFRUCTUOUS ON FILING APPLICATION IN TH E APPEAL (ITA NO.4573/DEL/2013) FOR SETTLING THE DISPUTE UNDER V IVAD SE ITA NO.4733/DEL./2013 ITA NO.4573/DEL./2013 3 VISHWAS SCHEME, 2020, HENCE DISMISSED. HOWEVER, T HE ASSESSEE AS WELL AS THE REVENUE WOULD HAVE THE LIBERTY TO GE T BOTH THE APPEALS (ITA NO.4733/DEL/2013 & ITA NO.4573/DEL/201 3) RESTORED IN CASE DISPUTE IS NOT SETTLED AS PER THE SCHEME. 5. RESULTANTLY, BOTH THE AFORESAID APPEALS ARE DISM ISSED. ORDER PRONOUNCED IN OPEN COURT ON THIS 28 TH DAY OF JANUARY, 2021 AFTER THE CONCLUSION OF THE VIRTUAL HEARING. SD/- SD/- (N.K. BILLAIYA) (KULDIP SINGH ) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED THE 28 TH DAY OF JANUARY, 2021 TS COPY FORWARDED TO: 1.APPELLANT 2.RESPONDENT 3.CIT 4.CIT(A)-XXXIII, NEW DELHI. 5.CIT(ITAT), NEW DELHI. AR, ITAT NEW DELHI.