CABLE CORPORATION OF INDIA LIMITED, MUMBAI V. DCIT-2(1)(1), MUMBAI

ITA 507/MUM/2019

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 3696 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2008-2009
• Appeal Filed On: 01-02-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: NISHIT KHATRI
• Section: 271(1)(c); 147

Judgement Text

ITA NO.507/MUM/2019 A.Y. 2008 - 08 CABLE CORPORATION OF INDIA LIMITED VS. THE DCIT - 2(1)(1) 1 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH C MUMBAI BEFORE SHRI M. BALAGANESH (ACCOUNTANT MEMBER) AND SHRI RAVISH SOOD (JUDICIAL MEMBER) ITA NO. 507/MUM/2019 (ASSESSMENT YEAR: 2008 - 09 ) CABLE CORPORATION OF INDIA LIMITED, 4 TH FLOOR, LAXMI BUILDING, 6, SHOORJI VALLABHDAS MARG, BALLARD ESTATE, MUMBAI 400 001 VS. THE DEPUTY COMMISSIONER OF INCOME - TAX - 2(1)(1), AAYAKAR BHAVAN, M.K. ROAD, MUMBAI - 400020 PAN NO. AAACC2936J (ASSESSEE) (REVENUE) ASSESSEE BY : SHRI NISHIT KHATRI , A.R REVENUE BY : MS. SHREEKALA PARDESHI , D.R DATE OF HEARING : 24 /02/2021 DATE OF PRONOUNCEMENT : 24 /02/2021 ORDER PER RAVISH SOOD, J.M: THE PRESENT APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST T HE ORDER PASSED BY THE CIT(A) - 4 , MUMBAI, WHICH IN TURN ARISES FROM THE PENALTY ORDER PASSED BY THE A.O UNDER SEC. 271(1)(C) OF THE INCOME - TAX ACT, 1961, DATED 27.05.2016 FOR ASSESSMENT YEA R 2008 - 09 . 2. THE CHARTERED ACCOUNTANT OF THE ASSESSEE HAS FILED A LETTER ON 1 7 TH FEBRUARY, 20 21, WHEREIN IT IS STATED THAT THE ASSESSEE AS REGARDS ITS QUANTUM APPEAL PENDING BEFORE THE TRIBUNAL, I.E APPEAL NO. 498 0/MUM/2018 EMANATING FROM THE ORDER PASSED BY THE A.O UNDER SEC.143(3) R.W. SEC. 147 OF THE ACT HAD FILED AN APPLICATION UNDER THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 IN ORDER TO SETTLE THE SAID MATTER AND HAS RECEIVED THE CERTIFICATE UNDER SUB - SECTION (1) OF SEC. 5 OF DIRECT TAX VI VAD SE VISHWAS ACT, 2020 FROM THE DESIGNATED AUTHORITY. IN SUPPORT OF ITS AFORESAID CLAIM THE ASSESSEE HAD ENCLOSED ALONGWITH ITS LETTER FORM 3 ISSUED BY THE DESIGNATED AUTHORITY. IT IS STATED BY THE ASSESSEE THAT AS THE ASSESSEES APPLICATION W.R.T THE PENDING QUANTUM APPEAL HAS BEEN ACCEPTED UNDER THE VIVAD SE VISHWAS SCHEME THUS, THE CORRESPONDING APPEAL AGAINST THE PENALTY IMPOSED BY THE A.O U/S 271(1)(C) OF THE ACT, VIZ. ITA NO. 507/MUM/2019 WOULD NOT SURVIVE AND ACCORDINGLY BE PERMITTED TO BE WITHDR AWN . ITA NO.507/MUM/2019 A.Y. 2008 - 08 CABLE CORPORATION OF INDIA LIMITED VS. THE DCIT - 2(1)(1) 2 3. THE LD. D.R DID NOT CONTROVERT THE AFORESAID FACTUAL POSITION AS WAS CANVASSED BEFORE US. 4. IN VIEW OF THE ABOVE, WE DISMISS THE APPEAL AS WITHDRAWN, SUBJECT TO A RIDER THAT IN THE UNLIKELY EVENT OF THE MATTER NOT BEING RESOLVED UNDER THE VIVAD S E VISHWAS SCHEME THE ASSESSEE SHALL HAVE LIBERTY TO APPROACH THE TRIBUNAL FOR RESTORATION OF ITS APPEAL AGAINST THE ORDER PASSED U/S 271(1)(C) OF THE ACT, VIZ. ITA NO. 507/MUM/2019 . 5. RESULTANTLY, THE APPEAL IS DISMISSED AS WITHDRAWN SUBJECT TO THE OBSE RVATION RECORDED HEREINABOVE. ORDER PRON OUNCED IN THE OPEN COURT ON 24 /02/2021. SD/ - SD/ - ( M. BALAGANESH ) (RAVISH SOOD) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI ; DATED: 24 .02.2021 PS: ROHIT COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A) - 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE . BY ORDER, //TRUE COPY// (SR. PRIVATE SECRETARY) ITAT, MUMBAI