POWERGEN HOLDINGS B.V., MUMBAI V. DDIT (INTERNATIONAL TAXATION) - 2(1), MUMBAI

ITA 6128/MUM/2016

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 0233 (ITAT-MUMBAI)
• Duration Of Justice: 4 year(s) 2 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-12-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: L
• Assessment Year: 2002-2003
• Appeal Filed On: 14-10-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SHREEKALA PARDESHAI
• Section: 250; 22

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. 6128 / MUM/ 2016 ( / ASSESSMENT YEAR 2002 - 03 ) POWERGEN HOLDINGS B.V. C/O. DELOITTE HASKIN & SELLS LLP INDIABULLS FINANCE CENTRE, TOWER - 3, 28 TH FLOOR, SENAPATI BAPAT MARG, ELPHINSTONE ROAD (WEST), MUMBAI - 400 013 / VS. THE DY. DIRECTOR OF INCOME TAX, (INTERNATIONAL TAXATION) - 2(1) , MUMBAI ( / APPELLANT) ( / RESPONDENT) . / PAN NO. AACCP 5035 H / APPELLANT BY : MS. URVI MEHTA, 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) - 55 , MUMBAI (IN SHORT THE CIT(A)) DATED 28.06.2016 FOR THE ASSESSMENT YEAR 2002 - 03 . 2. A REQUEST LETTER DATED 01.12.2020 HAS BEEN RECEIVED FROM THE ASSESSEE STATING THAT THE ASSESSEE COMPANY HAS OPTED FOR VIWAD SE VISHWAS SCHEME, 2020 ( IN SHORT VSVS) AND HENCE, DOES NOT WANT TO LITIGATE FURTHER. THE RELEVANT EXTRACT OF THE AFORESAID LETTER IS REPRODUCED HEREIN BELOW: PAGE | 2 ITA NO. 6128/MUM/2016 POWERGEN HOLDINGS B.V. , AY: 02 - 03 DEAR SIR RE.: POWERGEN HOLDINGS B.V. NETHERLANDS ---- APPELLANT THE DEPUTY DIRECTOR OF INCOME - TAX (INTERNATIONAL TAXATION) - CIRCLE 2(1), MUMBAI ITA NO..: 6128/MUM/2016 ASSESSMENT YEAR 2002 - 03 SUB: APPLICATION FOR WITHDRAWAL OF APPEAL WE REFE R TO THE CAPTIONED APPEAL FILED BY US FOR THE CAPTIONED ASSESSMENT YEAR AGAINST THE ORDER DATED 28 JUNE 2016 PASSED U/S 250 OF THE INCOME - TAX ACT, 1961. IN THIS CONNECTION, WE WOULD LIKE TO POINT OUT THAT WE HAVE OPTED FOR RESOLUTION OF DISPUTES UNDER THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 [VSV ACT] FOR THE YEAR UNDER CONSIDERATION. COPIES OF THE FOLLOWING DOCUMENTS IN THIS CONNECTION ARE FORWARDED HEREWITH I. FORM 1 BEING DECLARATION UNDER SUB - SECTION (1) OF SECTION 4 OF THE VSV ACT AND FORM 2 BEING UNDERTAKING REFERRED TO IN SUB - SECTION (5) OF SECTION 4 VSV ACT REFER APPENDIX - A; AND II. FORM 3 BEING CERTIFICATE UNDER SUB - SECTION (1) OF SECTION 5 OF THE VSV ACT - REFER APPENDIX - B. IN VIEW OF THE FOREGOING, WE HEREBY WITHDRAW THE CURRENT APPEAL BEFO RE THE BENCH AND REQUEST THE HON'BLE MEMBERS TO ORDER ACCORDINGLY. YOURS FAITHFULLY FOR POWERGEN HOLDINGS BV SD/ - (GURJIT AUJLA ) PAGE | 3 ITA NO. 6128/MUM/2016 POWERGEN HOLDINGS B.V. , AY: 02 - 03 3. MS. SHREEKALA PARDESHAI , RE PRESENTING 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 REQUEST, 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 APP LICATION FILED BY THE ASSESSEE UNDER VSVS FAILS TO MATURE. IT IS FURTHER 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 APPLICATION 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 DISMISSED 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 | 4 ITA NO. 6128/MUM/2016 POWERGEN HOLDINGS B.V. , AY: 02 - 03 / 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