STANDARD INDUSTRIES LTD, MUMBAI V. DCIT CIR 3(3), MUMBAI

ITA 7263/MUM/2017

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 5223 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 4 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-04-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: J
• Assessment Year: 2010-2011
• Appeal Filed On: 21-12-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: T S KHALSA
• Section: 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL G BENCH, MUMBAI BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENT AND SHRI S. RIFA UR RAHMAN, ACCOUNTANT MEMBER IT A NO. 7263/MUM./2017 ( ASSESSMENT YEAR : 20 1 0 11 ) STANDARD INDUSTRIES LTD. 59, THE ARCADE, 1 ST FLOOR WORLD TRADE CENTRE CUFFE PARADE, COLABA, MUMBAI 400 05 PAN AABCS8888C . APPELLANT V/S DY . COMMISSIONER OF INCOME TAX CIRCLE 3 ( 3 ), MUMBAI . RESPONDENT ASSESSEE BY : SHRI NINAD PATADE REVENUE BY : SHRI T.S. KHALSA DATE OF HEARING 2 8 .0 4 .202 1 DATE OF ORDER 28.04.2021 O R D E R PER S. RIFAUR RAHMAN, A.M. THE AFORESAID APPEAL HAS BEEN FILED BY THE ASSESSEE CHALLENGING THE ORDER DATED 13 TH SEPTEMBER 2017 , PASSED BY THE LEARNED COMMISSIONER (APPEALS) 8 , MUMBAI, PERTAINING TO THE ASSESSMENT YEAR 20 10 11 . 2. CONSIDERED THE SUBMISSIONS OF THE PARTIES AND PERUSED THE MATERIAL ON RECORD. THE ASSESSEE, VIDE ITS LETTER DATED 25 TH JANUARY 2021, HAS PRAYED FOR WITHDRAWAL OF ITS APPEAL IN VIEW OF THE FACT THAT IT HAS APPLIED FOR SETTLING THE TAX DISPUTE UNDER THE VIVAD SE VISHWAS 2 STANDARD INDUSTRIES LTD. TAX SCHEME, 2020. THE LETTER SUBMITTED BY THE ASSESSEE IS ACCOMPANIED B Y A COPY OF CERTIFICATE IN FORM 3 ISSUED BY THE REVENUE ARE KEPT ON RECORD. 3. THE LEARNED DEPARTMENTAL REPRESENTATIVE HAS NO OBJECTION FOR WITHDRAWAL OF THE APPEAL BY THE ASSESSEE. 4. CONSIDERING THE FACT THAT THE ASSESSEE HAS SOUGHT WITHDRAW AL OF THE PRESENT APPEAL, AS THE ASSESSEE HAS APPLIED FOR SETTLING THE DISPUTE UNDER VIVAD SE VISHWAS SCHEME, 2020, WE PERMIT THE ASS ESSEE TO WITHDRAW THE APPEAL AT THIS STAGE S INCE THE DEPARTMENT ISSUED FORM NO.3 . WITH THE SE OBSERVATIONS, THE APPEAL BY THE ASSESSEE AS WELL AS REVENUE IS LIABLE TO BE DISMISSED AS WITHDRAWN . 5. IN THE RESULT, APPEAL S S DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 28.04.2021 SD/ - MAHAVIR SINGH VICE PRESIDENT SD/ - S. RIFAUR RAHMAN ACCOUNTANT MEMBER MUMBAI, DATED: 28.04.2021 3 STANDARD INDUSTRIES 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