M/s VRKP Steel Industries Private Limited , Bangalore V. The Assistant Commissioner of Income Tax Circle-7(1)(2), Bangalore

ITA 667/BANG/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 6328 (ITAT-BANGALORE)
• Duration Of Justice: 2 year(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-04-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 04-04-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: PRIYADARSHI MISHRA
• Assessee Lawyers: N O N E

Judgement Text

ITA NO.667/BANG/2019 M/S. VRKP STEEL INDUSTRIES PVT. LTD., BENGALURU IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER ITA NO.667/BANG/2019 ASSESSMENT YEAR : 2009-10 M/S. VRKP STEEL INDUSTRIES LTD. NO.952, 21 ST MAIN BANASHANKARI 2 ND STAGE BENGALURU 560 070 PAN NO : AABCV8168L VS. ACIT, CIRCLE-7(1)(2) BENGALURU APPELLANT RESPONDENT APPELLANT BY : N O N E RESPONDENT BY : SHRI PRIYADARSHI MISHRA, D.R. DATE OF HEARING : 20.04.2021 DATE OF PRONOUNCEMENT : .04.2021 O R D E R PER B.R. BASKARAN, ACCOUNTANT MEMBER: THE ASSESSEE HAS FILED THIS APPEAL CHALLENGING THE ORDER DATED 12.03.2019 PASSED BY LD CIT(A)-7, BENGALURU AND IT RELATES TO THE ASSESSMENT YEAR 2009-10. 2. THE LD COUNSEL FOR THE ASSESSEE HAS FURNISH ED A LETTER STATING THAT THE ASSESSEE HAS OPTED TO SETTLE THE DISPUTE U NDER DIRECT TAX VIVAD SE VISHWAS ACT FOR SETTLEMENT OF THE DISPUTE BY FILING FORM NO.1 & 2. ACCORDINGLY IT IS STATED THAT THE ASSESSEE WI SHES TO WITHDRAW THE APPEAL. ITA NO.667/BANG/2019 M/S. VRKP STEEL INDUSTRIES PVT. LTD., BENGALURU PAGE 2 OF 2 3. THE LD D.R DID NOT OBJECT TO THE PRAYER MADE B Y THE ASSESSEE. 4. WE HEARD THE PARTIES AND PERUSED THE RECORD. SINCE THE ASSESSEE HAS OPTED TO SETTLE THE DISPUTE UNDER DIRECT TAX VI VAD SE VISHWAS ACT, 2020, WE ARE OF THE VIEW THAT NO PURPOSE WILL BE SERVED IN KEEPING THIS APPEAL PENDING. ACCORDINGLY WE DISMISS THE AP PEAL OF THE ASSESSEE AS WITHDRAWN. HOWEVER, THE ASSESSEE IS GIV EN LIBERTY TO MOVE APPROPRIATE APPLICATION FOR RECALL OF THE PRES ENT ORDER IN ACCORDANCE WITH THE LAW, IF THE ASSESSEE INTENDS TO DO SO. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE I S DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON APR, 20 21. (N.V. VASUDEVAN ) VICE PRESIDENT (B.R. BASKARAN) ACCOUNTANT MEMBER BANGALORE, DATED APR, 2021. VG/SPS COPY TO: 1. THE APPLICANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT(A) 5. THE DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASST. REGISTRAR, ITAT, BANGALORE.