SUBHKAM SECURITIES PVT. LTD. (MERGED INTO KHAZANA TRADELINKS PVT. LTD.), MUMBAI V. DCIT- CIRCLE- 4 (2)(1), MUMBAI

ITA 5573/MUM/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 0664 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 2 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-12-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2013-2014
• Appeal Filed On: 03-10-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SANJAY J SETHI
• Section: 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC III BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY , JUDICIAL MEMBER ITA NO. 5573 /MUM. /201 8 ( ASSESSMENT YEAR : 20 13 14 ) SUBHKAM SECURITIES PVT. LTD. 14 TH FLOOR, MAKER CHAMBERS IV 222, NARIMAN POINT, MUMBAI 400 021 PAN AADCS4498N . APPELLANT V/S DY. COMMISSIONER OF INCOME TAX CIRCLE 4 ( 2 )( 1 ), MUMBAI . RESPONDENT ASSESSEE BY : SHRI SANJAY PARI KH REVENUE BY : S HRI SANJAY J. SETHI DATE OF HEARING 16 .1 2 .2020 DATE OF ORDER 16.12.2020 O R D E R TH E AFORESAID APPEAL HAS BEEN FILED BY T H E ASSESSEE CHALLENGING THE ORDER DATED 9 TH JULY 2018, PASSED BY THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) 9 , MUMBAI, FOR THE ASSESSMENT YEAR 2013 14 . 2. THE ASSESSEE HAS FILED A LETTER DATED 1 5 TH DECEMBER 2020, BEFORE THE REGISTRY OF THE TRIBUNAL STATING THAT HE HAS APPLIED FOR SETTLING THE TAX DISPUTE ARISING IN THE PRESENT APPEAL UNDER THE DIRECT TAX VIVAD SE VISHWAS ACT , 2020. THE AFORESAID LETTER ALONG WITH COPIES OF THE DECLARATIONS IN FORM I AND II ARE KEPT ON RECORD. 2 SUBHKAM SECURITIES PVT. LTD. 3. HEARD THE PARTIES AND PERUSED THE MATERIAL ON RECORD. CONSIDERING THE FACT THAT THE ASSESSEE HAS ALREADY APPLIED FOR SETTLING THE DISPUTE IN THE PRESENT APPEAL UNDER THE DIRECT TAX VIV AD SE VISHWAS ACT, 2020, I AM INCLINED TO DISMISS THE APPEAL AS WITHDRAWN. HOWEVER, LIBERTY IS GRANTED TO THE ASSESSEE TO SEEK RESTORATION OF THIS APPEAL IN THE EVENT THE APPLICATION TO BE FILED UNDER THE VIVAD SE VISHWAS ACT,2020 IS NOT ACCEPTED BY THE DE PARTMENT. IN OTHER WORDS, IN THE EVENT OF NON ACCEPTANCE OF ASSESSEES DECLARATION BY THE REVENUE, THE ASSESSEE CAN FILE A MISCELLANEOUS APPLICATION SEEKING RECALL OF THIS ORDER AND RESTORATION OF THE APPEAL. THIS IS IN VIEW OF THE DECISION OF THE HONBLE MADRAS HIGH COURT IN ORDER DATED 16 TH OCTOBER 2020, DELIVERED IN M/S. NANNUSAMY MOHAN (HUF) V/S ACIT, TCA NO.372 OF 2020. 4. IN THE RESULT, APPEAL IS DISMISSED WITH THE AFOREMENTIONED LIBERTY. ORDER PRONOUNCED IN THE OPEN COURT ON 16.12.2020 MUMBAI, DATED: 16.12.2020 SD/ - SAKTIJIT DEY JUDICIAL MEMBER 3 SUBHKAM SECURITIES 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