Income Tax Officer, Ward-16(2), Hyderabad V. Nagina Tools Private Limited , Hyderabad

ITA 496/Hyd/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 7595 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 11 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-03-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB-A
• Assessment Year: 2010-2011
• Appeal Filed On: 05-04-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 143(3); 147

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A, HYDERABAD (THROUGH VIRTUAL HEARING) BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ITA NO. 496/HYD/2019 A.Y. 2010 - 11 INCOME TAX OFFICER, WARD - 16(2), HYDERABAD. VS. NAGINA TOOLS PRIVATE LIMITED, HYDERABAD. PAN: AADCN 0987 D (APPELLANT) (RESPONDENT) ASSESSEE BY: SHRI MOHD. AFZAL REVENUE BY: SHRI SUNIL KUMAR PANDEY, DR DATE OF HEARING: 15/03/2021 DATE OF PRONOUNCEMENT: 18 /03/2021 ORDER PER A. MOHAN ALANKAMONY, A.M: THIS APPEAL IS FILED BY THE REVENUE AGAINST THE ORDER OF THE LD. CIT(A) - 4, HYDERABAD IN APPEAL NO. 10295/17 - 18/ITO, WD - 16(2)/CIT(A) - 4/HYD/18 - 19, DATED 30/01/2019 PASSED U/S. 143(3) R.W.S 147 AND U/S. 250(6) OF THE ACT FOR THE A.Y. 2010 - 11. 2. AT THE OUTSET, LD. AR SUBMITTED BEFORE US THAT THE ASSESSEE HAS OPTED TO AVAIL VIVAD SE VISWAS SCHEME IN THE APPEAL OF THE REVENUE . THE LD. AR FURTHER SUBMITTED THAT THE ASSESSEE HA D FILED FORM NO.1 & 2 2 AND AWAITING TO RECEIVE FORM - 3 FROM THE REVENUE. IT WAS THEREFORE PLEADED, THAT THE INSTANT APPEAL OF THE REVENUE MAY BE DISMISSED. 3. THE LD. DR SUBMITTED BEFORE US THAT THE DEPARTMENT HAS NO OBJECTION IF THE ASSESSEE D ESIRES TO OPT VIVAD - SE - VISHWAS SCHEME. HE FURTHER SUBMITTED THAT IF THE APPEAL OF THE REVENUE IS TO BE DISMISSED THEN LIBERTY MAY BE GRANTED TO REINSTATE THE PRESENT APPEAL OF THE REVENUE IF THE APPLICATION FILED BY THE ASSESSEE FOR AVAILING THE BENEFIT U NDER VIVAD - SE - VISHWAS SCHEME IS NOT ACCEPTED BY THE REVENUE SUBSEQUENTLY. 4 . HAVING REGARD TO THE FACTS AND CIRCUMSTANCES OF THE CASE , W E ARE INCLINED TO DISMISS THE APPEAL OF THE REVENUE SINCE THE ASSESSEE HAS PREFERRED TO AVAIL THE VIVAD - SE - VISHWAS SCHE ME BY FILING FORM NO.1 & 2 AND AWAITING TO RECEIVE FORM - 3 FROM THE REVENUE . A CCORDINGLY, WE HEREBY DISMISS THE INSTANT APPEAL OF THE REVENUE . HOWEVER, W E ALSO MAKE IT CLEAR THAT, IF THE ASSESSEE S CASE IS NOT ACCEPTED IN THE VIVAD - SE - VISWAS SCHEME BY THE R EVENUE FOR WHATSOEVER MAY BE THE REASON, THEN THE REVENUE, AS REQUESTED BY THE LD. D.R, SHALL BE AT LIBERTY TO FILE MISCELLANEOUS PETITIO N BEFORE THE TRIBUNAL WITHIN THE TIME LIMIT PRESCRIBED UNDER THE ACT TO REINSTATE ITS APPEAL. IT IS ORDERED ACCORDINGLY . 3 5. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED . PRONOUNCED IN THE OPEN COURT ON 18 TH MARCH, 2021. SD/ - SD/ - ( SMT. P. MADHAVI DEVI ) ( A. MOHAN ALANKAMONY ) JUDICIAL MEMBER ACCOUNTANT MEMBER HYDERABAD, DATED: 18 TH MARCH, 2021. OKK COPY TO: - 1) M/S. NAGINA TOOLS PRIVATE LIMITED, 5 - 5 - 54/12, HARIGANGA COMPLEX, RANIGUNJ, SECUNDERABAD. 2) INCOME TAX OFFICER, WARD - 16(2), 2 ND FLOOR, B - BLOCK, IT TOWERS, AC GUARDS, MASAB TANK, HYDERABAD. 3) THE CIT (A) - 4, HYDERABAD. 4) THE PRINCIPAL COMMISSIONER OF INCOME TAX - 4, HYDERABAD. 5) THE DR, ITAT, HYDERABAD 6) GUARD FILE