ALEXIS INVESTMENTS COMPANY PVT. LTD, MUMBAI V. INCOME TAX OFFICER WARD 2 (1) (1), MUMBAI

ITA 5266/MUM/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 3569 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 9 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-05-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2015-2016
• Appeal Filed On: 09-08-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: GEHANLAL RANKA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH A, MUMBAI BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENT AND SHRI RAJESH KUMAR, ACCOUNTANT MEMBER ITA NO.5266/M/2019 ASSESSMENT YEAR: 2015-16 M/S. ALEXIS INVESTMENTS CO. PVT. LTD., C/O. G.L. RANKA, FLAT NO.C-31, PADMA NAGAR, MOHAN STUDIO COMPOUND, ANDHERI KURLA ROAD, NEAR WEH METRO STATION, ANDHERI (EAST), MUMBAI -99 PAN: AAACA4847A VS. INCOME TAX OFFICER, WARD 2(1)(1), ROOM NO.543, AAYAKAR BHAVAN, M.K. ROAD, MUMBAI - 400020 (APPELLANT) (RE SPONDENT) PRESENT FOR: ASSESSEE BY : SHRI GEHANLAL RANKA, A.R. REVENUE BY : MS. SHREEKALA PARDESHI, D.R. DATE OF HEARING : 26.03.2021 DATE OF PRONOUNCEMENT : 31.05.2021 O R D E R PER RAJESH KUMAR, ACCOUNTANT MEMBER: THE PRESENT APPEAL HAS BEEN PREFERRED BY THE ASSES SEE AGAINST THE ORDER DATED 18.07.2019 OF THE COMMISSIO NER OF INCOME TAX (APPEALS) [HEREINAFTER REFERRED TO AS TH E CIT(A)] RELEVANT TO ASSESSMENT YEAR 2015-16. 2. AT THE OUTSET, THE LD. COUNSEL OF THE ASSESSEE S UBMITTED THAT THE ASSESSEE HAS GONE INTO FOR VIVAD SE VISHVAS SCHEME UNDER THE DIRECT TAX VIVAD SE VISWAS SCHEME 2020, TH EREFORE, THE CASE MAY KINDLY BE DECIDED ACCORDINGLY. ITA NO.5266/M/2019 M/S. ALEXIS INVESTMENTS CO. PVT. LTD. 2 3. SINCE THE ASSESSEE HAS GONE INTO FOR VIVAD SE VISW AS SCHEME 2020, THE ADJOURNMENT APPLICATION BY THE ASS ESSEE IS REJECTED. BESIDES, WE ARE INCLINED TO DISMISS THE APPEAL OF THE ASSESSEE IN VIEW OF THE DECISION OF THE HONBLE MAD RAS HIGH COURT NANNUSAMY MOHAN (HUF) VS. ACIT TCA NO.372 OF 2020 WITH THE LIBERTY TO ASSESSEE TO GET THIS APPEAL REC ALLED IN CASE ASSESSEE DOES NOT SUCCEED IN VSVS 2020. ACCORDINGL Y, THE APPEAL OF THE ASSESSEE IS DISMISSED. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DIS MISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 31.05.2021. SD/- SD/- (MAHAVIR SINGH) (RAJESH KUMAR) VICE PRESIDENT ACCOUNTANT MEMBER MUMBAI, DATED: 31.05.2021. * KISHORE, SR. P.S. COPY TO: THE APPELLANT THE RESPONDENT THE CIT, CONCERNED, MUMBAI THE CIT (A) CONCERNED, MUMBAI THE DR CONCERNED BENCH //TRUE COPY// [ BY ORD ER DY /ASSTT. REGISTRAR, ITAT, MUMBAI.