The Assistant Commissioner of Income Tax, Central Circle-2, Guntur V. Deccan Jewellers Pvt. Ltd., Guntur

ITA 573/VIZ/2019

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 4885 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 1 year(s) 4 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-02-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2017-2018
• Appeal Filed On: 03-10-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D K SONAWAL
• Assessee Lawyers: M V PRASAD F

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH, VISAKHAPATNAM (T HROUGH WEB - BASED VIDEO CONFERENCING PLATFORM) BEFORE SHRI N.K. CHOUDHRY, HONBLE JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, HON'BLE ACCOUNTANT MEMBER I . T . A . NO. 573 / VIZ /2019 (ASST. YEAR : 20 1 7 - 1 8 ) A CIT, CENTRAL CIRCLE - 2, GUNTUR. VS. M/S. DECCAN JEWELLERS PVT. LTD., D.NO. 27 - 16 - 65, BESANT ROAD , GOVERNORPET, VIJAYAWADA. PAN NO. AACCD 1524 H (RESPONDENT) (APPELLANT ) I.T.A. NO. 664 /VIZ/2019 (ASST. YEAR : 2017 - 18 ) M/S. DECCAN JEWELLERS PVT. LTD., D.NO. 27 - 16 - 65, BESANT ROAD, GOVERNORPET, VIJAYAWADA. PAN NO. AACCD 1524 H VS. ACIT, CENTRAL CIRCLE - 2, GUNTUR. (RESPONDENT) (APPLICANT ) ASSESSEE BY : SHRI M.V. PRASAD , F C A . DEPARTMENT BY : SHRI D.K. SONAWAL , CIT DR DATE OF HEARING : 11 / 0 2 /2021 . DATE OF PRONOUNCEMENT : 11 / 0 2 /20 2 1 . O R D E R PER N.K. CHOUDHRY, JUDICIAL MEMBER: THESE CROSS APPEAL S HA VE BEEN PREFERRED BY THE REVENUE AND THE ASSESSEE AGAINST THE ORDER DATED 19 /0 7 /2019 IMPUGNED 2 ITA NO S . 573 & 664 /VIZ/20 19 ( M/S. DECCAN JEWELLERS PVT. LTD. ) HEREIN PASSED BY THE LD. CIT(A) - 3, VISAKHAPATNAM U/SEC. 250(6) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE 'ACT') FOR THE A.Y. 2017 - 1 8 . 2. THE A SSESSEE HA S PREFERRED AN APPLICATION UNDER CONSIDERATION DATED 28 /01/2021 FOR WITHDRAWAL OF THE APPEALS . 3. AT THE OUTSET , L D. AR HAS SUBMITTED THAT SINCE A SSESSEE HA S AVAILED THE IMMUNITY SCHEME I.E . VIVAD SE VISHWAS UNDER T HE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 AND T HE INCOME TAX DEPARTMENT HAS ISSUED FORM NO. 5 , DATED 31 /1 2 /202 0 IN RESPONSE TO THE APPLICATION FILED BY THE A SSESSEE UNDER THE SCHEME, THEREFORE APPEAL OF THE A SSESSEE MAY BE ALLOWED TO BE DISMISSED AS WITHDRAWN AND ALSO REQUESTED TO DISMISS THE APPEAL OF THE REVENUE AS INFRUCTUOUS. 4. THE LD. DR HAS RAI SED NO OBJECTION, IF THE APPEAL OF THE A SSESSEE IS ALLOWED TO BE DISMISSED AS WITHDRAWN AND ALSO APPEAL OF THE REVENUE MAY BE DISMISS ED AS INFRUCTUOUS . 5. HAVING HEARD BOTH THE PART IES AND PERUSED THE APPLICATION FOR WI THDRAWAL OF THE APPEALS AND FORM NO. 3 (COPY ALREADY ON RECORD) ISSUED BY THE DEPARTMENT. CONSIDERING THE FACT S AND CIRCUMSTANCES OF THE CASE , THE APPEAL OF THE ASSESSEE IS LIABLE TO BE DISMISSED AS WITHDRAWN AND THE APPEAL OF THE REVENUE IS ALSO LIABLE TO BE DISMISSED AS INFRUCTUOUS , HENCE ORDERED ACCORDINGLY . 3 ITA NO S . 573 & 664 /VIZ/20 19 ( M/S. DECCAN JEWELLERS PVT. LTD. ) 6. IN THE RESULT, APPEAL OF THE REVENUE STANDS DISMISSED AS INFRUCTUOUS AND APPEAL OF THE ASSESSEE STANDS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN OPEN COURT ON THIS 11 TH DAY OF FEB ., 2021 . S D / - S D / - ( D.S.SUNDER SINGH) ( N.K.CHOUDHRY ) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 11 TH FEBRUARY , 2021 . VR/ - COPY TO: 1. THE ASSESSEE M /S. DECCAN JEWELLERS PVT. LTD., D.NO. 27 - 16 - 65, BESANT ROAD, GOVERNORPET, VIJAYAWADA. 2. THE REVENUE A CIT, CENTRAL CIRCLE - 2, GUNTUR . 3. THE PR.CIT (CENT R AL) , VISAKHAPATNAM . 4. THE CIT(A) - 3 , VISAKHAPATNAM . 5. THE D.R., VISAKHAPATNAM. 6. GUARD FILE. BY ORDER (VUKKEM RAMBABU) SR. PRIVATE SECRETARY, ITAT, VISAKHAPATNAM.