THE DCIT CIR 3(1), MUMBAI V. M/S. ICICI BANK LTD (ERSTWHILE ANGRAM FINANCE LTD), MUMBAI

ITA 6999/MUM/2007

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 3576 (ITAT-MUMBAI)
• Duration Of Justice: 13 year(s) 3 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-02-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: I
• Assessment Year: 1996-1997
• Appeal Filed On: 23-11-2007
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V SREEKAR
• Section: 271(1)(c)

Judgement Text

ITA NO.6999/MUM/2007 A.Y. 1996 - 97 DCIT,CIRCLE - 3(1) VS. M/S ICICI BANK LD. 1 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH C MUMBAI BEFORE SHRI M. BALAGANESH (ACCOUNTANT MEMBER) AND SHRI RAVISH SOOD (JUDICIAL MEMBER) ITA NO. 6999/MUM/2007 (ASSESSMENT YEAR: 1996 - 97 ) DCIT, CIRCLE - 3 (1) , ROOM NO. 607 , 6 TH FLOOR, AAYAKAR BHAVAN, MUMBAI 400 020 VS. M/S ICICI BANK LTD. (ERSTWHILE ANAGRAM FINANCE LIMITED), LAXMI COMMERCIAL CENTRE, BEHIND NABARD BANK, 2 ND FLOOR, BANDRA - KURLA COMPLEX, BANDRA (EAST) , MUMBAI 400051 PAN NO. AAACI1195H ( REVENUE ) (ASSESSEE ) ASSESSEE BY : (WITHDRAWAL REQUEST LETTER, DATED 12.02.2021) REVENUE BY : SHRI V. SREEKAR , D.R DATE OF HEARING : 23 /02/2021 DATE OF PRONOUNCEMENT : 23 /02/2021 ORDER PER RAVISH SOOD, J.M: THE PRESENT APPEAL FILED BY THE REVENUE IS DIRECTED AGAINST T HE ORDER PASSED BY THE CIT(A) - XXVII , MUMBAI, DATED 30.08.2007, WHICH IN TURN ARISES FROM THE PENALTY ORD ER PASSED BY THE A.O UNDER SEC. 271(1)(C) OF THE INCOME - TAX ACT, 1961, DATED 31.03.2006 FOR ASSESSMEN T YEAR 1996 - 97 . 2. THE LD. AUTHORISED REPRESENTATIVE (FOR SHORT A.R) FOR THE A SSESSEE HAS E - FILED A LETTER DATED 12 TH FEBRUARY, 2021, WHEREIN IT IS STATED THAT THE ASSESSEE HAD FILED AN APPLICATION UNDER THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 IN ORDER TO SETTLE THE AFORESAID MATTER PENDING BEFORE THE TRIBUNAL. IN SUPPORT OF HIS AFORESAID CLAIM THE LD. A.R HAD STATED THAT FORM 3 HAS BEEN ISSUED TO THE ASSESSEE BY THE DESIGNATED AUTHORITY (COPY PLACED ON RECORD) . IT I S STATED BY THE ASSESSEE THAT IN THE BACKDROP OF THE AFORESAID FACTS THE CAPTIONED APPEAL FILED BY THE REVENUE MAY BE DIRECTED TO BE WITHDRAWN. 3. THE LD. D.R DID NOT CONTROVERT THE AFORESAID FACTUAL POSITION AS WAS CANVASSED BEFORE US. ITA NO.6999/MUM/2007 A.Y. 1996 - 97 DCIT,CIRCLE - 3(1) VS. M/S ICICI BANK LD. 2 4. IN VIEW OF THE ABOVE, WE DISMISS THE REVENUES APPEAL AS WITHDRAWN, SUBJECT TO A RIDER THAT IN THE UNLIKELY EVENT OF THE MATTER NOT BEING RESOLVED UNDER THE VIVAD SE VISHWAS SCHEME THE APPELLANT REVENUE SHALL HAVE LIBERTY TO APPROACH THE TRIBUNAL FOR RESTORATION OF ITS A PPEAL. 5. RESULTANTLY, THE APPEAL IS DISMISSED AS WITHDRAWN SUBJECT TO THE OBSERVATIONS RECORDED HEREINABOVE. ORDER PRON OUNCED IN THE OPEN COURT ON 23 /02/2021. SD/ - SD/ - ( M. BALAGANESH ) (RAVISH SOOD) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI ; DATED: 23 .02.2021 PS: ROHIT 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// (SR. PRIVATE SECRETARY) ITAT, MUMBAI