ITO , WD- 4(3)(3), MUMBAI V. VINET FURNISHING PVT. LTD., MUMBAI

ITA 5602/MUM/2018

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 6425 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 10 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-08-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 2012-2013
• Appeal Filed On: 03-10-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: JAYANT

Judgement Text

INTHEINCOMETAX APPELLATETRIBUNAL MUMBAI BENCHFMUMBAI BEFORE SHRI S. RIFAURRAHMAN(ACCOUNTANT MEMBER)AND SHRI RAVISHSOOD (JUDICIAL MEMBER) ITANO.5602/MUM/2018 ASSESSMENT YEAR:2012-13 ITO, WD-4(3)(3), R. NO. 637, 6 TH FLOOR, AAYAKARBHAVAN, MUMBAI-400020. VS. M/SVINEET FURNISHINGPVT. LTD., 2 ND FLOOR, ROOMNO. 2,MANI MAHAL, 353, KALBADEVI ROAD, KALBADEVI, MUMBAI - 400002. PAN NO. AACCV 7996 B APPELLANT RESPONDENT CO. NO.214/MUM/2018 (ITANO.5602/MUM/2018) ASSESSMENT YEAR:2012-13 M/SVINEET FURNISHINGPVT. LTD., 2 ND FLOOR, ROOMNO. 2,MANIMAHAL, 353, KALBADEVI ROAD, KALBADEVI, MUMBAI-400002. VS. ITO, WD-4(3)(3), R. NO. 637, 6 TH FLOOR, AAYAKAR BHAVAN, MUMBAI-400020. PAN NO. AACCV 7996 B APPELLANT RESPONDENT REVENUEBY : MS. USHAGAIKWAD, DR ASSESSEEBY : MR. JAYANT, AR DATE OF HEARING : 23 /08/2021 DATE OF PRONOUNCEMENT : 23 /08/2021 M/S VINEET FURNISHING PVT.LT.D. ITA NO. 5602/M/2018 & CO. NO.214/M/2018 2 ORDER PER S. RIFAURRAHMAN,A.M. THE PRESENT APPEAL FILED BY THE REVENUE AND CROSS OBJECTION FILED BY THE ASSESSEE ARE AGAINST THE ORDER OF COMMISSIONER OF INCOME TAX (APPEALS)-9, MUMBAI [IN SHORT CIT(A)] FOR THE ASSESSMENT YEAR 2012-13 DATED 24.07.2018 ANDARISESOUTOFASSESSMENT COMPLETEDU/S143(3)R.W.S.147OFTHE INCOMETAX ACT,1961(IN SHORT THE ACT). 2. AT THE OUTSET, THE LD. AR SUBMITTED THAT ASSESSEE HAS PREFERRED TO SETTLE THEISSUEUNDERVIVADSEVISHWASACT,2020ANDRELEVANTINFORMATIONISFILED VIDE LETTERDATED28.06.2021ANDSUBMITTEDTHATITHASFILEDTHENECESSARYDECLARATION UNDER DIRECT TAX VIVAD SE VISHWAS ACT, 2020 (ACT 3OF 2020) AND CONFIRMED THE RECEIPTOF FORM-3. 3. THE LD. DRALSO DIDNOTOBJECTTO COURSESO SUGGESTED. 4. HEARD THE LEARNED COUNSELS FOR BOTH THE PARTIES AND PERUSED MATERIAL ON RECORD. CONSIDERING THE FACT THAT THE ASSESSEE HAS SOUGHT WITHDRAWAL OF THE PRESENTAPPEAL,ASITHASAPPLIEDFORSETTLINGTHEDISPUTEUNDERVIVADSEVISHWAS SCHEME, 2020, WE PERMIT THE ASSESSEE TO WITHDRAW THE APPEAL AT THIS STAGE. HOWEVER, LIBERTY IS GRANTED TO THE ASSESSEE TO SEEK RESTORATION OF THIS APPEAL IN THE EVENT THE APPLICATION FILED UNDER VIVAD SE VISHWAS TAX SCHEME IS NOT ACCEPTED BY THE DEPARTMENT. IT IS FURTHER MADE CLEAR THAT IN SUCH EVENTUALITY IF THE ASSESSEE SEEKS RESTORATION OF THE PRESENT APPEAL BY FILING MISC. APPLICATION, THE DELAY, IF ANY, SHOULD BE CONDONED WITHOUT INSISTING UPON FILING ANY APPLICATIONFORCONDONATIONOFDELAY.THISISINVIEWOFTHEDECISIONOFTHEHONBLE MADRAS HIGH COURT IN ORDER DATED 16TH OCTOBER 2020, DELIVERED IN M/S. M/S VINEET FURNISHING PVT.LT.D. ITA NO. 5602/M/2018 & CO. NO.214/M/2018 3 NANNUSAMY MOHAN (HUF) V/S ACIT , TCA NO.372 OF 2020. WITH THE AFORESAID OBSERVATIONS,THE APPEAL ISDISMISSEDASWITHDRAWN. 5. IN THE RESULT, THE APPEAL FILED BY THE REVENUE AND CROSS OBJECTION FILED BY THEASSESSEEARE DISMISSEDASWITHDRAWN. ORDER PRONOUNCEDINTHEOPENCOURTON 23/08/2021. SD/- SD/- ( RAVISHSOOD ) ( S. RIFAURRAHMAN ) JUDICIALMEMBER ACCOUNTANTMEMBER MUMBAI; DATED:23/08/2021 RAHUL SHARMA,SR. P.S. COPYOFTHEORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A) - 4. CIT 5. DR, ITAT,MUMBAI 6. GUARDFILE. BY ORDER, //TRUE COPY// (DY./ASSISTANTREGISTRAR) ITAT,MUMBAI