COMPANHIA DE NAVEGACAO NORSUL, MUMBAI V. ASST DIT (IT) 1(2), MUMBAI

ITA 6939/MUM/2014

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 0726 (ITAT-MUMBAI)
• Duration Of Justice: 6 year(s) 1 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-12-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2001-2002
• Appeal Filed On: 13-11-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SHREEKALA PARDESHAI
• Section: 271(1)(c); 22

Judgement Text

C IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, MUMBAI , . . , BEFORE S H RI VIKAS AWASTHY , JUDICIAL MEMBER AND SHRI N.K. PRADHAN , ACCOUNTANT MEMBER ./ ITA NO. 6939 / MUM/ 2014 ( / ASSESSMENT YEAR 2001 - 02 ) COMPANHIA DE NAVEGACAO NORSUL C/O DELOITTE HASKINS & SELLS LLP INDIA BULLS FINANCE CENTRE, TOWER 3, 28 TH FLOOR, SENAPATI BAPAT MARG, ELPHINSTONE WEST MUMBAI - 400 013 / VS. THE ASST. DIRECTOR OF INCOME - TAX (INTERNATIONAL TAXATION) 1(2), MUMBAI 1 ST FLOOR, SCINDIA HOUSE, BALLARD ESTATE, N.M. ROAD, MUMBAI - 400 038 ( / APPELLANT) ( / RESPONDENT) . / PAN NO. AABCC 9156 D / APPELLANT BY : MS. URVI MEHTA, AR / RESPONDENT BY : MS. SHREEKALA PARDESHAI , DR / DATE OF HEARING: 22 .1 2 . 2020 / DATE OF PRONOUNCEMENT: 22.12 .2020 / O R D E R , PER VIKAS AWASTHY , JM : THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF COMMIS SIONER OF INCOME TAX (APPEALS) - 10 , MUMBAI (IN SHORT THE CIT (A)) DATED 25.03.2014 FOR THE ASSESSMENT YEAR 2001 - 02 . 2. A REQUEST LETTER DATED 21/12/2020 HAS BEEN RECEIVED FROM THE ASSESSEE STATING THAT THE ASSESSEE COMPANY HAS OPTED FOR VIWAD SE VISHWAS SCHEME, 2020 ( IN SHORT VSVS) AND HENCE, DOES NOT WANT TO LIT IGATE FURTHER. THE RELEVANT EXTRACT OF THE AFORESAID LETTER IS REPRODUCED HEREIN BELOW: PAGE | 2 ITA NO. 6939 /MUM/ 2014 COMPANHIA DE NAVEGACAO NORSUL , AY : 01 - 02 RESPECTED SIRS, THE CAPTIONED APPEAL HAS BEEN FIXED FOR HEARING BEFORE THE MUMBAI BENCH C; ON 22 DECEMBER 2020 AT SR. NO.05. IN THIS CONNECTION WE WOULD LIKE TO POINT OUT THAT THE ABOVE - MENTIONED APPEAL IS IN CONNECTION WITH THE LEVY OF PENALTY UNDER SECTION 271(1)(C) OF THE INCOME - TAX ACT, 1961. FURTHER, THE QUANTUM APPEAL BEARING ITA NO.2030/MUM/2011 FOR THE VERY SAME ASSESSMENT YEAR, HAS BEEN PRONOUNCED TO BE DISMIS SED AS WITHDRAWN IN OPEN COURT BY THE MUMBAI BENCH I ON 14 DECEMBER 2020 WITH A LIBERTY TO REVIVE AT A LATER STAGE SINCE, THE APPELLANT HAS FILED AN APPLICATION UNDER SECTION 2 OF THE DIRECT TAX VIVAD SE VISHWAS ACT , 2020 WITH THE DESIGNATED AUTHORITY FO R RESOLUTION OF THE QUANTUM APPEAL AND IS AWAITING THE APPROVAL IN FORM - 3 FROM THE CONCERNED COMMISSIONER OF INCOME - TAX AN ORDER DISMISSING THE QUANTUM APPEAL IS, AS YET, AWAITED. UNDER THE CIRCUMSTANCES WE HAVE TO REQUEST YOUR HONOURS TO ADJOURN THE H EARING OF THE CAPTIONED APPEAL FOR THE TIME BEING AND OBLIGE. WE TRUST OUR REASONABLE REQUEST WILL BE ACCEDED TO AND REGRET THE INCONVENIENCE CAUSED. REGARDS, KETAN K. VED AUTHORISED REPRESENTATIVE PAGE | 3 ITA NO. 6939 /MUM/ 2014 COMPANHIA DE NAVEGACAO NORSUL , AY : 01 - 02 3. MS. SHREEKALA PARDESHAI , REPRESENTING THE DEPARTMENT STA TED THAT THE DEPARTMENT HAS NO OBJECTION IF THE ASSESSEE WANTS TO WITHDRAW THE APPEALS TO AVAIL THE BENEFIT OF VSVS . 4. IN VIEW OF ABOVE REQUEST, THE ASSESSEE IS ALLOWED TO WITHDRAW THE APPEAL. THUS, THE APPEAL OF ASSESSEE IS DISMISSED AS WITHDRAWN. 5. LIBERTY IS GRANTED TO THE ASSESSEE TO RESTORE THE APPEAL IN THE EVENT APPLICATION FILED BY THE ASSESSEE UNDER VSVS FAILS TO MATURE. IT IS FURTHER MADE CLEAR THAT IF THE ASSESSEE /APPELLANT SEEKS TO RESTORE THE APPEAL IN THE EVENT ASSESSEES DECLARATION MADE UNDER VSVS IS NOT ACCEPTED, THE REGISTRY SHALL NOT INSIST FOR FILING OF APPLICATION FOR CONDONATION OF DELAY, IF THE MISCELLANEOUS APPLICATION FOR RECALLING THE ORDER IS FILED BEYOND TIME ON ACCOUNT OF DELAY IN COMMUNICATION OF OUTCOME UNDER VSVS. [ RE. M/S. NA NNUSAMY MOHAN(HUF) VS. ACIT IN T.C.A NO.372 OF 2020 DECIDED ON 16/10/2020 BY HONBLE MADRAS HIGH COURT] . 6. THE APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN WITH THE LIBERTY AFORESAID. ORDER PRONOUNCED IN THE OPEN COURT ON TUESDAY THE 22 ND DAY OF DECEMB ER , 2020. SD/ - SD/ - ( . . / N.K. PRADHAN ) ( / VIKAS AWASTHY ) ( / ACCOUNTANT MEMBER) ( / JUDICIAL MEMBER ) , / MUMBAI, DATED: 22 . 1 2 .2020 , . / SUDIP SARKAR, SR.PS PAGE | 4 ITA NO. 6939 /MUM/ 2014 COMPANHIA DE NAVEGACAO NORSUL , AY : 01 - 02 / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE. / BY ORDER, //TRUE COPY// / (ASSTT. REGISTRAR) , / ITAT, MUMBAI