ACIT-12(3)(2), MUMBAI , MUMBAI V. MONEY LOGIX SECURITIES PRIVATE LIMITED , MUMBAI

ITA 6335/MUM/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 2840 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 7 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-05-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2010-2011
• Appeal Filed On: 04-10-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJESH MISHRA
• Section: 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, MUMBAI BEFORE SHRI S. RIFA UR RAHMAN, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE , JUDICIAL MEMBER IT A NO. 6335/MUM./2019 ( ASSESSMENT YEAR : 20 10 11 ) ASSTT. COMMISSIONER OF INCOME TAX CIRCLE 12(3)(2), MUMBAI . APPELLANT V/S MONEY LOGIX SECURITIES PVT. LTD. VRINDAVAN ANNEXE, 32, MOUNT MARY ROAD BANDRA (W), MUMBAI 400 050 PAN AAECM8621N . RESPONDENT REVENUE BY : SHRI RAJESH MISHRA ASSESSEE BY : NONE DATE OF HEARING 20 . 0 5 .202 1 DATE OF ORDER 18.05.2021 O R D E R PER S. RIFAUR RAHMAN, A.M. THE AFORESAID APPEAL HA S BEEN FILED BY THE REVENUE CHALLENGING THE ORDER DATED 28 TH JUNE 2019, BY THE LEARNED COMMISSIONER (APPEALS) 21, MUMBAI, FOR THE ASSESSMENT YEAR 2010 11 . 2. WHEN THE CASE WAS CALLED FOR HEARING, NEITHER THE ASSESSEE NOR ANY OF ITS AUTHORIZED REPRESENTATIVES APPEARED BEFORE US TO CONTEST THE APPEAL. THERE IS NO APPLICATION FOR ADJOURNMENT EITHER. HOWEVER, W HILE GOING THROUGH THE RECORD AVAILABLE BEFORE US, WE FIND THAT THE A SSESSEE 2 MONEY LOGIX SECURITIES PVT. LTD. HAS FILED A LETTER DATED 17 TH MAY 202 1 , INTIMATING THAT THE ASSESSEE HAS APPLIED FOR SETTLING THE TAX DISPUTE UNDER THE VIVAD SE VISHWAS TAX SCHEME, 2020 AND FORM NO.5 HAS BEEN ISSUED BY THE REVENUE AND THE SAME IS ALSO KEPT ON RECORD. IN THIS VIEW OF THE AFORESAID CIRCUMSTANCES, THE LEARNED COUNSEL FOR THE ASSESSEE DID NOT WISH TO CONTEST THE REVENUES APPEAL BEFORE US. 3. THE LEARNED DEPARTMENTAL REPRESENTATIVE DID NOT OBJECT TO THE SUBMISSIONS OF THE LEARNED COUNSEL FOR THE ASSESSEE . 4. CONSIDERING THE FACT THAT THE ASSESSEE IS NOT INTERESTED TO CONTEST THE APPEAL FILED BY THE REVENUE BEFORE US , AS THE ASSESSEE HAS APPLIED FOR SETTLING THE DISPUTE UNDER VIVAD SE VISHWAS SCHEME, 2020 AND THE REVENUE HAS ALSO ISSUED FORM NO.5 , C ONSEQUENTLY, WE ARE OF THE OPINION THAT THERE IS NO NECESSITY TO KEEP THE PRESENT APPEAL PENDING SINCE THE REVENUE . THEREFORE, WE HOLD THAT THE APPEAL FILED BY THE REVENUE IS LIABLE TO BE DISMISSED AS SUCH. 5. IN THE RESULT, REVENUES APPEAL I S DISMISSED. ORDER PRONOUNC ED IN THE OPEN COURT ON 18.05.2021 SD/ - PAVAN KUMAR GADALE JUDICIAL MEMBER SD/ - S. RIFAUR RAHMAN ACCOUNTANT MEMBER MUMBAI, DATED: 18.05.2021 3 MONEY LOGIX SECURITIES PVT. LTD. COPY OF THE ORDER FORWARDED TO : (1) THE ASSESSEE; (2) THE REVENUE; (3) THE CIT(A); (4) THE CIT, MUMBAI CITY CONCERNED; (5) THE DR, ITAT, MUMBAI; (6) GUARD FILE . TRUE COPY BY ORDER PRADEEP J. CHOWDHURY SR. PRIVATE SECRETARY ASSISTANT REGISTRAR ITAT, MUMBAI