INCOME TAX OFFICER-1(3)(3), MUMBAI V. TERRAIN PROPERTIES PRIVATE LIMITED, MUMBAI

ITA 4866/MUM/2017

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 7294 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 10 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-06-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Assessment Year: 2008-2009
• Appeal Filed On: 12-07-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIJAY KUMAR MENON

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH E, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI RAVISH SOOD, JUDICIAL MEMBER ITA NO.4866/M/2017 ASSESSMENT YEAR: 2008-09 INCOME TAX OFFICER- 1(3)(3), ROOM NO.528, 5 TH FLOOR, AAYAKAR BHAVAN, MUMBAI - 400020 VS. M/S. TERRAIN PROPERTIES PVT. LTD., 1B, 1 ST FLOOR, COURT CHAMBERS, 35, SIR VITHALDAS THACKERSEY MARG NEW MARINE LINES, MUMBAI 400 020 PAN: AACCT7421P (APPELLANT) (R ESPONDENT) ITA NO.4535/M/2017 ASSESSMENT YEAR: 2008-09 M/S. TERRAIN PROPERTIES PVT. LTD., 1B, 1 ST FLOOR, COURT CHAMBERS, 35, SIR VITHALDAS THACKERSEY MARG NEW MARINE LINES, MUMBAI 400 020 PAN: AACCT7421P VS. INCOME TAX OFFICER- 1(3)(3), ROOM NO.528, 5 TH FLOOR, AAYAKAR BHAVAN, MUMBAI - 400020 (APPELLANT) (R ESPONDENT) PRESENT FOR: ASSESSEE BY : NONE (LETTER DT.03.02.21) REVENUE BY : SHRI VIJAY KUMAR MENON, SR. D.R. DATE OF HEARING : 11.06.2021 DATE OF PRONOUNCEMENT : 11.06.2021 O R D E R PER RAJESH KUMAR, ACCOUNTANT MEMBER: THE ABOVE CROSS APPEALS HAVE BEEN PREFERRED BY ASS ESSEE AND REVENUE AGAINST THE ORDER DATED 28.04.2017 OF T HE ITA NO.4866/M/2017 & ITA NO.4535/M/2017 M/S. TERRAIN PROPERTIES PVT. LTD. 2 COMMISSIONER OF INCOME TAX (APPEALS) [HEREINAFTER R EFERRED TO AS THE CIT(A)] RELEVANT TO ASSESSMENT YEAR 2008-09. ITA NO.4535/M/2017 (ASSESSEES APPEAL) 2. NONE HAS APPEARED ON BEHALF OF THE ASSESSEE. HOW EVER, THE ASSESSEE FILED A LETTER DATED 03.02.2021 REQUESTING THE BENCH TO ALLOW THE ASSESSEE TO VOLUNTARILY WITHDRAW THE APPE AL AS THE ASSESSEE HAS GONE INTO VIVAD SE VISHWAS SCHEME AND F ORM NO.3 HAS ALREADY BEEN ISSUED. 3. THE LD. D.R. FAIRLY CONCEDED TO THE FACT THAT FO RM 3 HAS BEEN ISSUED TO THE ASSESSEE AND IT MAY BE DECIDED A CCORDINGLY. 4. CONSIDERING THE ABOVE FACTS, WE ARE INCLINED TO DISMISS THE APPEAL OF THE ASSESSEE. ITA NO.4866/M/2017 (REVENUES APPEAL) 5. SINCE THE ASSESSEES APPEAL HAS BEEN DISMISSED A S WITHDRAWN THE REVENUES APPEAL HAS BECOME INFRUCTUO US. 6. IN THE RESULT, THE APPEALS OF THE ASSESSEE AS WE LL AS OF THE REVENUE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 11.06.2021. SD/- SD/- ( RAVISH SOOD) (RAJESH KUMAR) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI, DATED: 11.06.2021. * KISHORE, SR. P.S. COPY TO: THE APPELLANT THE RESPONDENT HAVING THE CIT, CONCERNED, MUMBAI THE CIT (A) CONCERNED, MUMBAI ITA NO.4866/M/2017 & ITA NO.4535/M/2017 M/S. TERRAIN PROPERTIES PVT. LTD. 3 THE DR CONCERNED BENCH //TRUE COPY// [ BY ORDER DY/ASS TT. REGISTRAR, ITAT, MUMBAI.