NARANG OVERSEAS P.LTD, MUMBAI V. DCIT 5(2) (1), MUMBAI

ITA 6150/MUM/2018

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 3671 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 4 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-03-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 29-10-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: THARIAN OOMMEN
• Section: 143(3); 13

Judgement Text

ITA NO.6150/MUM/2018 A.Y. 2012 - 13 NARANG OVERSEAS PVT. LTD. VS. DCIT 5(2)(1) 1 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH B MUMBAI BEFORE SHRI M. BALAGANESH (ACCOUNTANT MEMBER) AND SHRI RAVISH SOOD (JUDICIAL MEMBER) ITA NO. 6150/MUM/2018 (ASSESSMENT YEAR: 2012 - 13 ) NARANG OVERSEAS PVT. LTD. 8 - A BEACH VIEW BUILDING, 93 WARDEN ROAD, MUMBAI 400036 VS. DCIT 5(2)(1), ROOM NO.571, 5 TH FLOOR, AAYAKAR BHAVAN, M.K. ROAD, MUMBAI - 400020 PAN NO. AABCN5004D (ASSESSEE) (REVENUE) ASSESSEE BY : (WITHDRAWAL REQUEST LETTER , DATED 11.02.2021) REVENUE BY : SHRI THARIAN OOMMEN , D.R DATE OF HEARING : 04/03 /2021 DATE OF PRONOUNCEMENT : 04 /03/2021 ORDER PER RAVISH SOOD, J.M: THE PRESENT APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER PASSED BY THE CIT(A) - 10 , MUMBAI, WHICH IN TURN ARISES FROM THE ASSESSMENT ORDER PASSED BY THE A.O UNDER SEC. 143(3) OF THE INCOME - TAX ACT, 1961, DATED 13.03.2015 FOR ASSESSMENT YEAR 2012 - 13. 2. THE ASSESSEE HAS FILED A LETTER DATED 11 TH FEBRUARY, 2021, WHEREIN IT IS STATED THAT IT HAD FILED AN APPLICATION UNDER THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 IN ORDER TO SETTLE THE AFORESAID MATTER PENDING BEFORE THE TRIBUNAL AND HAS RE CEIVED THE CERTIFICATE UNDER SUB - SECTION (1) OF SEC. 5 OF DIRECT TAX VIVAD SE VISHWAS ACT, 2020 FROM THE DESIGNATED AUTHORITY. IN SUPPORT OF ITS AFORESAID CLAIM THE ASSESSEE HAD ENCLOSED ALONGWITH ITS LETTER FORM 3 ISSUED BY THE DESIGNATED AUTHORITY. IT IS STATED BY THE ASSESSEE THAT IN THE BACKDROP OF THE AFORESAID FACTS THE CAPTIONED APPEAL MAY ALLOWED TO BE WITHDRAWN. 3. THE LD. D.R DID NOT CONTROVERT THE AFORESAID FACTUAL POSITION AS WAS CANVASSED BEFORE US. ITA NO.6150/MUM/2018 A.Y. 2012 - 13 NARANG OVERSEAS PVT. LTD. VS. DCIT 5(2)(1) 2 4. IN VIEW OF THE ABOVE, WE DISMISS THE AP PEAL AS WITHDRAWN, SUBJECT TO A RIDER THAT IN THE UNLIKELY EVENT OF THE MATTER NOT BEING RESOLVED UNDER THE VIVAD SE VISHWAS SCHEME THE ASSESSEE SHALL HAVE LIBERTY TO APPROACH THE TRIBUNAL FOR RESTORATION OF ITS APPEAL. 5. RESULTANTLY, THE APPEAL IS DISMI SSED AS WITHDRAWN SUBJECT TO THE OBSERVATION RECORDED HEREINABOVE. ORDER PRON OUNCED IN THE OPEN COURT ON 04 /03/2021. SD/ - SD/ - ( M. BALAGANESH ) (RAVISH SOOD) ACCOUNTANT MEMBER JUDI CIAL MEMBER MUMBAI ; DATED: 04 .03.2021 PS: ROHIT COPY OF THE 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// (SR. PRIVATE SECRETARY) ITAT, MUMBAI