ITO 27 (1)(5), MUMBAI V. M/S J.V.CHEM (INDIA), MUMBAI

ITA 5055/MUM/2019

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 1702 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 6 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-02-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2012-2013
• Appeal Filed On: 02-08-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: SANJAY SETHI
• Section: 250; 254(2)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, MUMBAI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA NO. 5055/MUM/2019 (A.Y: 2012-13) ITO 27 (1) (5), ROOM NO. 331, 3 RD FLOOR, TOWER NO. 6, VASHI STATION COMPLEX, VASHI, NAVI MUMBAI - 400703 / VS. M/S J.V. CHEM (INDIA), B-1, NEELKANTH CHHAYA, R.B. MEHTA ROAD, GHATKOPAR (E), MUMBAI - 400077 ./ ./ PAN/GIR NO. : AABFJ4268L ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : SHRI SANJAY PARIKH, DR / RESPONDENT BY : SHRI SANJAY SETHI, AR / DATE OF HEARING 16/02/2021 / DATE OF PRONOUNCEMENT 16/02/2021 / O R D E R PER PAVAN KUMAR GADALE: THIS APPEAL HAS BEEN FILED BY THE REVENUE AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX ITA NOS. 5055 /MUM/2019 M/S J.V. CHEM (INDIA) - 2 - (APPEALS) - 26, MUMBAI, PASSED U/S143(3) 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 HAS FILED LETTER DATED 08.02.2021 MENTIONING THAT 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 APPEAL PENDING. ACCORDINGLY, WE DISMISS THE APPEAL OF THE REVENUE AND THE 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. ITA NOS. 5055 /MUM/2019 M/S J.V. CHEM (INDIA) - 3 - 4. IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON16.02.2021 SD/- SD/- (M. BALAGANESH) (PAVAN KUMAR GADALE) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED 16.02.2021 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