DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, THANE V. M/S. ASHIDA ELECTRONICS PVT. LTD, THANE

ITA 5016/MUM/2019

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 1481 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 6 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-02-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2009-2010
• Appeal Filed On: 01-08-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: BRAJENDRA KUMAR
• Assessee Lawyers: S SHAH
• Section: 250; 254(2)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, MUMBAI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA NO. 5016/MUM/2019 (A.Y: 2009-10) & ITA NO. 5017/MUM/2019 (A.Y: 2011-12) THE DCIT, CIRCLE - 1, 6 TH FLOOR, ASHAR I.T. PARK, ROOM NO. 22, B WING, WAGLE INDL. ESTATE, ROAD NO. 16Z, THANE (W) - 400064 / VS. M/S ASHIDA ELECTRONICS ASHIDA HOUSE, PLOT NO. A- 308, ROAD NO. 21, WAGLE ESTATE, THANE (W)- 400604 ./ ./ PAN/GIR NO. : AABCA5020G ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : SHRI BRAJENDRA KUMAR, D R / RESPONDENT BY : MS. S. SHAH , AR / DATE OF HEARING 09 /02 /202 1 / DATE OF PRONOUNCEMENT 11 /02/2021 ITA NOS. 5016 & 5017 /MUM/2019 ASHIDA ELECTRONICS - 2 - / O R D E R PER PAVAN KUMAR GADALE: THESE APPEALS HAVE BEEN FILED BY THE REVENUE AGAINST THE SEPARATE ORDERS OF THE COMMISSIONER OF INCOME TAX (APPEALS) - 1, THANE, PASSED U/S. 271 (1) (C) AND 250 OF THE INCOME TAX ACT, 1961. 2. AT THE TIME HEARING, THE LD. AR OF THE ASSESSEE SUBMITTED THAT THE ASSESSEE IS INTEND TO SETTLE THE TAX LITIGATION BY OPTING FOR VIVAD SE VISHWAS SCHEME 2020(VSVS2020) AND FILED AN APPLICATION IN FORM NO. 1 & 2 UNDER VSVS RULES 2020. CONTRA, THE LD. DR HAS NO OBJECTIONS. 3. WE HEARD THE RIVAL CONTENTIONS AND PERUSED THE MATERIAL ON RECORD. SINCE THE ASSESSEE HAS OPTED FOR VIVAAD SE VISHWAS SCHEME 2020 AND THE ASSESSEE HAS APPLIED UNDER VSVS 2020 AND RECEIVED FORM-3 FROM THE INCOME TAX DEPARTMENT AS ENVISAGED BY THE LD.AR. WE ARE OF THE VIEW THAT, NO PURPOSE WILL BE SERVED IN KEEPING THE APPEALS PENDING. ACCORDINGLY, WE DISMISS THE APPEALS OF THE REVENUE AND THE ITA NOS. 5016 & 5017 /MUM/2019 ASHIDA ELECTRONICS - 3 - APPELLANT IS GIVEN LIBERTY TO MOVE AN APPLICATION U/S 254(2) OF THE ACT TO RECALL THE PRESENT ORDER IN ACCORDANCE WITH THE PROVISIONS OF LAW. 4. IN THE RESULT, THE APPEALS FILED BY THE REVENUE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 11.02.2021. SD/- SD/- (SHAMIM YAHYA) (PAVAN KUMAR GADALE) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED 11.02.2021 AK, PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. / THE CIT(A) 4. ( ) / CONCERNED CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE. / BY ORDER, //TRUE COPY// 1. / ( ASST. REGISTRAR) , / ITAT, MUMBAI 2. OTHER MEMBER ON