INCOME TAX OFFICER 11(3)(2), MUMBAI V. TEERTH MERCANTILE PRIVATE LIMITED (NOW VALENTINE MERCANTILE PRIVATE LIMITED), MUMBAI

ITA 5278/MUM/2017

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 2940 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 9 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-05-2021
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: E
• Assessment Year: 2010-2011
• Appeal Filed On: 11-08-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: VIJAY KUMAR MENON
• Assessee Lawyers: NAVIN MISHRA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL E BENCH, MUMBAI BEFORE SHRI S. RIFA UR RAHMAN, ACCOUNTANT MEMBER AND SHRI RAVISH SOOD, JUDICIAL MEMBER IT A NO. 5278/MUM./2017 ( ASSESSMENT YEAR : 20 10 11 ) ITA NO. 5277/MUM./2017 ( ASSESSMENT YEAR : 20 09 10 ) INCOME TAX OFFICER WARD 11(3)(2), MUMBAI . APPELLANT V/S TEERTH MERCANTILE PVT. LTD. VALENTINE MERCANTILE PVT. LTD. FLAT NO.253, KALPATARU HORIZON S.K. AHIRE MARG, ZEE T.V. OFFICE WORLI, MUMBAI 400 0018 PAN AADCT0140L . RESPONDENT REVENUE BY : SHRI VIJAY KUMAR MENON ASSESSEE BY : SHRI NAVIN MISHRA DATE OF HEARING 01 . 0 4 .202 1 DATE OF ORDER 24.05.2021 O R D E R PER S. RIFAUR RAHMAN, A.M. THE AFORESAID APPEAL S HA VE BEEN FILED BY THE REVENUE CHALLENGING THE ORDER DATED 7 TH JUNE 2019, PASSED FOR THE ASSESSMENT YEAR 2010 11 AND ORDER DATED 20 TH APRIL 2017, PASSED FOR THE ASSESSMENT YEAR 2009 10, BY THE LEARNED COMMISSIONER (APPEALS) 18 , MUMBAI . 2 TEERTH MERCANTILE PVT. LTD. 2. WHILE GOING THROUGH THE RECORD AVAILABLE BEFORE US, WE FIND THAT T HE ASSESSEE HAS FILED A LETTER DATED 23 RD DECEMBER 2020, INTIMATING THAT THE ASSESSEE HAS APPLIED FOR SETTLING THE TAX DISPUTE UNDER THE VIVAD SE VISHWAS TAX SCHEME, 2020 AND FORM NO.3 ISSUED BY THE REVENUE ARE ALSO KEPT ON RECORD. IN THIS VIEW OF THE AFORESAID CIRCUMSTANCES, THE LEARNED COUNSEL FOR THE ASSESSEE DID NOT WISH TO CONTEST THE REVENUES APPEAL BEFORE US. 3. THE LEARNED DEPARTMENTAL REPRESENTATIVE DID NOT OBJECT TO THE SUBMISSIONS OF THE LEARNED COUNSEL FOR THE ASSESSEE . 4. CONSIDERING THE FACT THAT THE ASSESSEE IS NOT INTERESTED TO CONTEST THE APPEAL FILED BY THE REVENUE BEFORE US , AS THE ASSESSEE HAS APPLIED FOR SETTLING THE DISPUTE UNDER VIVAD SE VISHWAS SCHEME, 2020 , C ONSEQUENTLY, WE ARE OF THE OPINION THAT THERE IS NO NECESSITY TO KEEP THE PRESENT APPEAL PENDING SI NCE THE REVENUE HAS ALREADY ISSUED FORM NO.3 . THEREFORE, WE HOLD THAT THE APPEAL S FILED BY THE REVENUE ARE LIABLE TO BE DISMISSED AS SUCH. 5. IN THE RESULT, REVENUES APPEAL S ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 24.05.2021 SD/ - RAVISH SOOD JUDICIAL MEMBER SD/ - S. RIFAUR RAHMAN ACCOUNTANT MEMBER MUMBAI, DATED: 24.05.2021 3 TEERTH MERCANTILE PVT. LTD. COPY OF THE ORDER FORWARDED TO : (1) THE ASSESSEE; (2) THE REVENUE; (3) THE CIT(A); (4) THE CIT, MUMBAI CITY CONCERNED; (5) THE DR, ITAT, MUMBAI; (6) GUARD FILE . TRUE COPY BY ORDER PRADEEP J. CHOWDHURY SR. PRIVATE SECRETARY ASSISTANT REGISTRAR ITAT, MUMBAI