OMNIVORE CAPITAL MANAGEMENT ADVISORS PRIVATE LIMITED, MUMBAI V. ITO WARD 14(2)2, MUMBAI

ITA 5885/MUM/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 0725 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 2 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-12-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2012-2013
• Appeal Filed On: 12-10-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SHREEKALA PARDESHAI
• Section: 13; 22; 2

Judgement Text

C IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, MUMBAI , . . , BEFORE S H RI VIKAS AWASTHY , JUDICIAL MEMBER AND SHRI N.K. PRADHAN , ACCOUNTANT MEMBER ./ ITA NO. 5885 / MUM/ 2018 ( / ASSESSMENT YEAR 2012 - 13 ) OMNIVORE CAPITAL MANAGEMENT ADVISORS PVT. LTD. SF - A - 3, 2 ND FLOOR, ART GUILD HOUSE, PHOENIX MARKET CITY, KURLA WEST, MUMBAI - 400 077 / VS. THE INCOME TAX OFFICER WARD 35(1) - 4 ROOM NO. 461, AAYAKAR BHAVAN, MAHERSHI KARVE ROAD, MARINE LINES - 400 020 ( / APPELLANT) ( / RESPONDENT) . / PAN NO. AABCO 4285 F / APPELLANT BY : SHRI NIRAJ SHETH , AR / RESPONDENT BY : MS. SHREEKALA PARDESHAI , DR / DATE OF HEARING: 22 .1 2 . 2020 / DATE OF PRONOUNCEMENT: 22.12 .2020 / O R D E R , PER VIKAS AWASTHY , JM : THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF COMMIS SIONER OF INCOME TAX (APPEALS) - 22 , MUMBAI (IN SHORT THE CIT(A)) DATED 10/07/2018 FOR THE ASSESSMENT YEAR 2012 - 13 . 2. SHRI NIRAJ SHETH APPEARING ON BEHALF OF THE ASSESSEE STATED AT BAR THAT THE ASSESSEE HAS OPTED FOR VIWAD SE VISHWAS SCHEME, 2020 (IN SHORT VSVS), THEREFORE, THE ASSESSEE MAY BE PERMITTED TO WITHDRAW THE APPEAL WITH LIBERTY TO REVIVE THE APPEAL IF THE APPLICATION MADE UNDER VSVS FAILS TO MATURE. PAGE | 2 ITA NO. 5885 /MUM/ 2018 OMNIVORE CAPITAL MANAGEMENT ADVISORS PVT. LTD. , AY: 12 - 13 3. MS. SHREEKALA PARDESHAI , REPRESENTING THE DEPARTMENT STATED THAT THE DEPARTMENT HAS NO OBJECTION IF THE ASSESSEE WANTS TO WITHDRAW THE APPEALS TO AVAIL THE BENEFIT OF VSVS . 4. IN VIEW OF ABOVE STATEMENT MADE BY AR OF THE A SSESSEE , THE ASSESSEE IS ALLOWED TO WITHDRAW THE APPEAL. THUS, THE APPEAL OF ASSESSEE IS DISMISSED AS WITHDRAWN. 5. LIBERTY IS GRANTED TO THE ASSESSEE TO RESTORE THE APPEAL IN THE EVENT APPLICATION FILED BY THE ASSESSEE UNDER VSVS FAILS TO MATURE. IT IS FURTH ER MADE CLEAR THAT IF THE ASSESSEE /APPELLANT SEEKS TO RESTORE THE APPEAL IN THE EVENT ASSESSEES DECLARATION MADE UNDER VSVS IS NOT ACCEPTED, THE REGISTRY SHALL NOT INSIST FOR FILING OF APPLICATION FOR CONDONATION OF DELAY, IF THE MISCELLANEOUS APPLICATIO N FOR RECALLING THE ORDER IS FILED BEYOND TIME ON ACCOUNT OF DELAY IN COMMUNICATION OF OUTCOME UNDER VSVS. [ RE. M/S. NANNUSAMY MOHAN(HUF) VS. ACIT IN T.C.A NO.372 OF 2020 DECIDED ON 16/10/2020 BY HONBLE MADRAS HIGH COURT] . 6. THE APPEAL OF THE ASSESSEE IS D ISMISSED AS WITHDRAWN WITH THE LIBERTY AFORESAID. ORDER PRONOUNCED IN THE OPEN COURT ON TUESDAY THE 22 ND DAY OF DECEMBER , 2020. SD/ - SD/ - ( . . / N.K. PRADHAN ) ( / VIKAS AWASTHY ) ( / ACCOUNTANT MEMBER) ( / JUDICIAL MEMBER ) , / MUMBAI, DATED: 22 . 1 2 .2020 , . / SUDIP SARKAR, SR.PS PAGE | 3 ITA NO. 5885 /MUM/ 2018 OMNIVORE CAPITAL MANAGEMENT ADVISORS PVT. LTD. , AY: 12 - 13 / COPY OF T HE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE. / BY ORDER, //TRUE COPY// / (ASSTT. REGISTRAR) , / ITAT, MUMBAI