SHETH MERCANTILE CORPORATION, MUMBAI V. ACIT 17 (2), MUMBAI

ITA 660/MUM/2019

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 9573 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 1 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-03-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2010-2011
• Appeal Filed On: 06-02-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SMITA VERMA
• Section: 143(3); 250; 254(2); 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC-I BENCH, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA NOS. 660/MUM/2019 (A.Y: 2010-11 ) SHETH MERCANTILE CORP, 11/15, ESSAJI STREET, GR FLOOR, MANDVI, MASJID (W) MUMBAI 400063 / VS. ACIT 17 (2) AAYAKAR BHAVAN, CHURCHGATE, MUMBAI. ./ ./ PAN/GIR NO. : AACFS5130P ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : NONE / RESPONDENT BY : SHRI SMITA VERMA, DR / DATE OF HEARING 28/01/2021 !'# / DATE OF PRONOUNCEMENT 29/01/2021 / O R D E R PER RAJESH KUMAR-AM: THE ASSESSEE HAS FILED THE APPEAL AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) - 28, MUMBAI, PASSED U/S. 143(3) R.W.S 147 AND 250 OF THE INCOME TAX ACT, 1961. 2. AT THE TIME HEARING, THE ASSESSEE FILED LETTER DATED 27-01-2021 MENTIONING THAT THE ASSESSEE IS INTENDING TO SETTLE THE TAX LITIGATION BY OPTING F OR ITA NO S. 660 /MUM/2019 SHETH MERCANTILE CORP., MUMBAI. - 2 - VIVAD SE VISHWAS SCHEME 2020(VSVS2020) AND FILED AN APPLICATION IN FORM NO. 1 & 2 UNDER VSVS RULES 2020. CONTRA, THE LD. DR HAS NO OBJECTIONS. 3. WE HEARD THE RIVAL CONTENTIONS AND PERUSED THE MATERIAL ON RECORD. SINCE THE ASSESSEE HAS OPTED F OR VIVAAD SE VISHWAS SCHEME 2020 AND FORM-3 IS RECEIVED FROM THE INCOME TAX DEPARTMENT. WE ARE OF THE VIEW THAT, NO PURPOSE WILL BE SERVED IN KEEPING THE APPEAL PENDING. ACCORDINGLY, WE DISMISS THE APPEAL OF THE ASSESSEE AS WITHDRAWN AND THE ASSESSE E IS GIVEN LIBERTY TO MOVE AN APPLICATION U/S 254(2) OF THE ACT TO RECALL THE PRESENT ORDER IN ACCORDANCE W ITH THE PROVISIONS OF LAW. 4. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 29-01-2021 . SD/- SD/- (PAVAN KUMAR GADALE) (RAJESH KUMAR) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI, DATED 29/01/2021