DCIT CIR 3(3)(1), MUMBAI V. SIDDHESH CAPITAL MARKET SERVICES P.LTD, MUMBAI

ITA 6895/MUM/2017

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 9589 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 7 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-07-2021
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: J
• Assessment Year: 2011-2012
• Appeal Filed On: 06-12-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: T S KHALSA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL G BENCH, MUMBAI BEFORE SHRI S. RIFA UR RAHMAN, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER IT A NO. 6895/MUM./2017 ( ASSESSMENT YEAR : 20 1 1 1 2 ) DY. COMMISSIONER OF INCOME TAX CIRCLE 3(3)(1), MUMBAI . APPELLANT V/S SIDDHESH CAPITAL MARKET SERVICES P. LTD. 122, MAKER CHAMBERS III NARIMAN POINT, MUMBAI 400 021 PAN AACCS4582N . RESPONDENT REVENUE BY : SHRI T.S. KHALSA ASSESSEE BY : SHRI JAY BHANSALI DATE OF HEARING 13.05.2021 DATE OF ORDER 12.07.2021 O R D E R PER S. RIFAUR RAHMAN, A.M. THE CAPTIONED APPEAL HAS BEING FILED BY THE REVENUE CHALLENGING THE ORDER DATED 21 ST FEBRUARY 2014, PASSED BY THE LEARNED COMMISSIONER OF INCOME TAX (APPE ALS) 8 , MUMBAI, FOR THE ASSESSMENT YEAR 2 0 11 12. 2. WHILE GOING THROUGH THE RECORD AVAILABLE BEFORE US, WE FIND THAT T HE ASSESSEE HAS FILED A LETTER DATED 12 TH MAY 2021, INTIMATING THAT THE ASSESSEE HAS APPLIED FOR SETTLING THE TAX DISPUTE UNDER THE VIVAD SE 2 SIDDHESH CAPITAL MARKET SERVICES P. LTD. VISHWAS TAX SCHEME, 2020 AND FORMS NO.1 , 2 AND 3 ISSUED BY THE REVENUE ARE ALSO KEPT ON RECORD. THE LEARNED DEPARTMENTAL REPRESENTATIVE HAS ALSO FILED A COMPLIANCE REPORT IN FORM NO.5, ISSUED BY THE DEPARTMENT FOR FULL AND FINAL SETTLEMENT OF TAX, ETC. IN THIS VIEW OF THE AFORESAID CIRCUMSTANCE S, THE LEARNED COUNSEL FOR THE ASSESSEE DID NOT WISH TO CONTEST THE APPEAL FILED BY THE REVENUE BEFORE US. 3. THE LEARNED DEPARTMENTAL REPRESENTATIVE CONCEDED 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 , CONSEQUENTLY, WE ARE OF THE OPINION THAT THERE IS NO NECESSITY TO KEEP THE PRESENT APPEAL PEND ING SINCE THE REVENUE HAS ALREADY ISSUED AFORESAID FORMS. IN THIS VIEW OF THE MATTER, WE HOLD THAT THE APPEAL FILED BY THE REVENUE IS LIABLE TO BE DISMISSED. 5. IN THE RESULT, REVENUES APPEAL IS TREATED AS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 12.07.2021 SD/ - PAVAN KUMAR GADALE JUDICIAL MEMBER SD/ - S. RIFAUR RAHMAN ACCOUNTANT MEMBER MUMBAI, DATED: 12.07.2021 3 SIDDHESH CAPITAL MARKET SERVICES P. 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