PANVELKAR CLASSIC INVESTMENT, MUMBAI V. DCIT CIRCLE-2, KALYAN

ITA 5552/MUM/2018

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 9184 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 10 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-08-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2015-2016
• Appeal Filed On: 01-10-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 20

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL , C BENCH MUMBAI BEFORE : SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI M.BALAGANESH, A CCOUNTANT MEMBER , ITA NO. 5552/ MUM/ 20 18 ( ASSESSMENT YEAR : 2015 - 16 ) M/S. PENVELKAR CLAS S IC INVEST MENT FIRST FLOOR, NANDI COMMERCIAL COMPLEX, NEAR DNS BANK, OPP. DOMBIVALI NAGARI SAHAKARI BANK, SHIV DHAM, AMBERNATH - 421 501 VS. DCIT CIRCLE - 2 KALYAN PAN/GIR NO. AABAP6178J (APPELLANT ) .. (RESPONDENT ) ASSESSEE BY NONE REVENUE BY SHRI R.K. SAHU, CIT DR DATE OF HEARING 05 /0 8 /2021 DATE OF PRONOUNCEMENT 05 / 08 /202 1 / O R D E R PER M. BALAGANESH (A.M) : THIS APPEAL IN ITA NO. 5552/MUM/2018 FOR A.Y. 2015 - 16 ARISES OUT OF THE ORDER BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 3, MUMBA I IN APPEAL NO. 10217 - THN/2017 - 18 DATED 12/07/2018 (LD. CIT(A) IN SHORT) AGAINST THE ORDER OF ASSESSMENT PASSED U/S.143(3) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS ACT) DATED 28/12/2017 BY THE LD. DY. COMMISSIONER OF INCOME TAX, CIRCLE - 2, KAL YAN (HEREINAFTER REFERRED TO AS LD. AO). ITA NO . 5552/MUM/2018 M/S. PANVELKAR CLASSIC INVESTMENT 2 2. WE FIND THAT THE ASSESSEE FILED A LETTER MENTIONING THAT AN APPLICATION HAD BEEN PREFERRED UNDER DIRECT TAX VIVAD SE VISWAS SCHEME 2020 TO SETTLE THIS TAX DISPUTE FOR THE YEAR UNDER CONSIDERATION AND HAD OBTAI NED FORM - 3 FROM THE DESIGNATED AUTHORITY THEREON, COPY OF WHICH WAS ENCLOSED ALONGWITH THIS LETTER. 3. IN VIEW OF T HIS, WE HEREBY TREAT THE APPEAL PENDING BEFORE US AS DISMISSED AND WITHDRAWN WITH A LIBERTY GIVEN TO THE ASSESSEE TO GET THE APPEAL RESTORE D IN THE EVENT THAT ASSESSEES DECLARATION MADE UNDER VIVAD SE VISWAS SCHEME 2020 IS DECLARED BAD IN LAW IN FUTURE FOR ANY REASON WHATSOEVER. 4. IN THE RESULT, APPEAL OF THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON 05 / 08 /202 1. SD/ - ( VIKAS AWASTHY ) SD/ - (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED 05 / 08 / 2021 KARUNA , SR.PS ITA NO . 5552/MUM/2018 M/S. PANVELKAR CLASSIC INVESTMENT 3 COPY OF THE ORDER FORWARDED TO : BY ORDER, ( ASSTT. REGISTRAR) ITAT, MUMBAI 1. THE APPELLANT 2. THE RESPONDENT . 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//