The Assistant Commissioner of Income Tax, Circle-2(1), Guntur V. Sai Bhaskar Irons Limited, Guntur

ITA 540/VIZ/2018

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 9120 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 2 year(s) 5 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-03-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2012-2013
• Appeal Filed On: 15-10-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D K SONOWAL
• Section: 250; 201; 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM BEFORE SHRI N.K. CHOUDHRY, HONBLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, HON'BLE ACCOUNTANT MEMBER I . T . A . NO. 540 / VIZ /20 1 8 (ASST. YEAR : 20 1 2 - 13 ) ASST.COMMISSIONER OF INCOME TAX CIRCLE - 2(1) GUNTUR VS. M/S SAI BHASKAR IRONS LTD. D.NO.3 - 1 - 10, 3 RD LANE, RAJENDRA NAGAR GUNTUR [PAN : AAMCS1678G] (RESPONDENT) (APPELLANT) DEPARTMENT BY : SHRI D.K.SONOWAL, CIT, DR ASSESSEE BY : SHRI I.KAMA SASTRY , AR DATE OF HEARING : 2 3 / 0 3 /2021 . DATE OF PRONOUNCEMENT : 2 3 / 0 3 /20 2 1 . O R D E R PER N.K. CHOUDHRY, JUDICIAL MEMBER: THIS APPEAL HAS BEEN PREFERRED BY THE R EVENUE DEPARTMENT AGAINST THE ORDER DATED 0 7 . 0 8 .201 8 IMPUGNED HEREIN PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS) - 1 , GUNTUR U/SEC. 250 OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE 'ACT') FOR THE A.Y. 201 2 - 1 3 . 2. THE ASSESSEE HAS PREFERRED AN APPLICATION UNDER CONSIDERATION DATED 20.01.2021 FOR DISMISSING THE APPEAL. 3. DURING THE COURSE OF HEARING, THE LD. A R HAS SUBMITTED THAT SINCE THE ASSESSEE HAS AVAILED THE IMMUNITY SCHEME I.E. VIVAD SE 2 ITA NO. 540 /VIZ/20 1 8 M/S SAI BHASKAR IRONS LTD., GUNTUR VISHWAS UNDER THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 AND T HE INCOME TAX DEPARTMENT HAS ISSUED FORM NO.3, DATED 05 . 01 .202 1 IN RESPONSE TO THE APPLICATION FILED BY THE ASSESSEE UNDER THE SCHEME, THE APPEAL OF THE REVENUE D EPARTMENT MAY BE DISMISSED. 4. THE LD. DR RAISED NO OBJECTION, IF THE APPEAL OF THE REVENUE D EP ARTMENT IS ALLOWED TO BE DISMISSED WITH LIBERTY TO SEEK RECALL OF THE ORDER IN CASE ANY UNFORESEEN CIRCUMSTANCES WOULD ARISE IN FUTURE . 5. HAVING HEARD BOTH THE PARTIES AND PERUSED THE APPLICATION FOR WITHDRAWAL OF THE APPEAL AND FORM NO.3 (COPY ALREADY ON RECORD) ISSUED BY THE DEPARTMENT , C ONSIDERING THE FACTS AND CIRCUMSTANCES OF THE CASE, THE APPEAL OF THE REVENUE D EPARTMENT IS LIABLE TO BE DISMISSED WITH LIBERTY TO SEEK RECALL OF THE ORDER AS PRAYED FOR IN ACCORDANCE WITH LAW, HENCE ORDERED ACCORDINGL Y. 6. IN THE RESULT, APPEAL OF THE REVENUE DEPARTMENT STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 2 3 R D MARCH, 2021. S D / - S D / - ( D.S.SUNDER SINGH) ( N.K.CHOUDHRY ) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 2 3 R D MARCH , 2021 . L.RAMA , SR.PS 3 ITA NO. 540 /VIZ/20 1 8 M/S SAI BHASKAR IRONS LTD., GUNTUR COPY TO: 1 . THE REVENUE INCOME TAX OFFICER, CIRCLE - 2(1), GUNTUR 2 . THE ASSESSEE M/S SAI BHASKAR IRONS LTD., D.NO.3 - 1 - 10, 3 RD LANE, RAJENDRA NAGAR, GUNTUR 3 . THE PR.CIT , VI JAYAWADA 4 . THE CIT(A) - 1, GUNTUR 5 . THE D.R., VISAKHAPATNAM 6 . GUARD FILE. BY ORDER SR. PRIVATE SECRETARY, ITAT, VISAKHAPATNAM.