CLEARWATER CAPITAL PARTNERS (CYPRUS) LIMITED, MUMBAI V. ASSTT COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-2(1)(1), MUMBAI

ITA 6641/MUM/2018

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 3490 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 3 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-03-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: K
• Assessment Year: 2014-2015
• Appeal Filed On: 22-11-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 143(3)

Judgement Text

ITA NO.6641/MUM/2018 CLEARWATER CAPITAL PARTNERS (CYPRUS) LIMITED ASSESSMENT YEAR: 2014-15 1 IN THE INCOME TAX APPELLATE TRIBUNAL I BENCH, MUMBAI , , BEFORE HONBLE SHRI MAHAVIR SINGH, VP AND HONBLE SHRI MANOJ KUMAR AGGARWAL, AM (HEARING THROUGH VIDEO CONFERENCING MODE) ./ I.T.A. NO.6641/MUM/2018 ( / ASSESSMENT YEAR : 2014-15) CLEARWATER CAPITAL PARTNERS (CYPRUS) LIMITED C/O. SRBC & ASSOCIATES LLP 14 TH FLOOR, THE RUBY 29, SENAPATI BAPAT MARG DADAR (W), MUMBAI-400 028 / VS. A CIT (INTL. TAX.) - 2(1)(1) ROOM NO.1713, 17 TH FLOOR AIR INDIA BUILDING NARIMAN POINT MUMBAI-400 021 +, ./ ./PAN/GIR NO. AACCC-9756-A ( ,. /APPELLANT ) : ( /0,. / RESPONDENT ) ASSESSEE BY : SHRI RUSHABH MAMANIA-LD.AR (LETTER/EMAIL DT. 25/02/2021) REVENUE BY : SHRI VIJAYKUMAR SUBRAMANIYAM LD. SR.DR / DATE OF HEARING : 02/03/2021 / DATE OF PRONOUNCEMENT : 02/03/2021 / O R D E R MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. AFORESAID APPEAL BY ASSESSEE FOR ASSESSMENT YEAR 2014-15 CONTEST FINAL ASSESSMENT ORDER DATED 24/09/2018 PAS SED BY LEARNED ASSESSING OFFICER U/S 143(3) R.W.S. 144C(13). ITA NO.6641/MUM/2018 CLEARWATER CAPITAL PARTNERS (CYPRUS) LIMITED ASSESSMENT YEAR: 2014-15 2 2. THE LD. AR, AT THE OUTSET, SUBMITTED THAT THE AS SESSEE HAS ALREADY OPTED FOR SETTLEMENT OF DISPUTE UNDER DIRECT TAX VIVAD SE VISHWAS SCHEME (VSV SCHEME), 2020 FOR THE YEAR UNDER CONSIDERATION BY FILING FORM NOS. 1 & 2. THE LD. DR SUBMITTED THAT THE APPE AL MAY BE DISMISSED AS WITHDRAWN. 3. IN VIEW OF FOREGOING, THE APPEAL STANDS DISMISSE D AS WITHDRAWN WITH A LIBERTY TO ASSESSEE TO SEEK RESTORATION OF T HE APPEAL IN CASE THE AFORESAID DECLARATION FILED UNDER THE SCHEME IS NOT ACCEPTED, FOR WHATEVER REASONS. 4. THE APPEAL STANDS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 02 ND MARCH, 2021. SD/- SD/- (MAHAVIR SINGH) (MANOJ KUMAR AGGARWAL) / VICE PRESIDENT / ACCOUNTANT MEMBER MUMBAI; DATED : 02/03/2021 SR.PS, JAISY VARGHESE !'! / COPY OF THE ORDER FORWARDED TO : 1. ,. / THE APPELLANT 2. /0,. / THE RESPONDENT 3. 7 ( ) / THE CIT(A) 4. 7 / CIT CONCERNED 5. 89/2: , : , / DR, ITAT, MUMBAI 6. 9;<= / GUARD FILE / BY ORDER, / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI.