NATIONAL AUSTRALIA BANK LIMITED, MUMBAI V. DEPUTY COMMISSIONER OF INCOME TAX (IT) 3(3)(1), MUMBAI

ITA 7327/MUM/2017

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 4084 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 2 month(s) 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-03-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: J
• Assessment Year: 2013-2014
• Appeal Filed On: 22-12-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RAJEEV GUBGOTRA
• Assessee Lawyers: KIRESH SHIVKAR
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH J, MUMBAI BEFORE SHRI G.S.PANNU, VICE-PRESIDENT AND SHRI MAHAVIR SINGH, JUDICIAL MEMBER ITA NO.7327/MUM/2017, (A.Y. 2013-14) NATIONAL AUSTRALIA BANK LIMITED, 901, 9 TH FLOOR, NARIMAN BHAVAN PREMISES CO-OP. SOC. LTD., NARIMAN POINT, MUMBAI 400 021. PAN: AACCN3916H ...... APPELLANT VS. THE DY. COMMISSIONER OF INCOME TAX (IT)-3(3)(1), 16 TH FLOOR, AIR INDIA BUILDING, NARIMAN POINT, MUMBAI-400 021 ..... RESPONDENT APPELLANTS BY : SHRI KIRESH SHIVKAR RESPONDENT BY : SHRI RAJEEV GUBGOTRA DATE OF HEARING : 11/03/2019 DATE OF PRONOUNCEMENT : 11/03/2019 ORDER PER G.S.PANNU,VICE-PRESIDENT: THE CAPTIONED APPEAL FILED BY THE ASSESSEE PERT AINING TO ASSESSMENT YEAR 2013-14 IS DIRECTED AGAINST THE O RDER PASSED BY THE ASSESSING OFFICER UNDER SECTION 143(3) R.W.S.144C( 13) R.W.S. 92CA(3) OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT) DATE D 30/10/2017 GIVING EFFECT TO THE DIRECTION OF THE DRP-2, MUMBAI DATED 13/09/2017. 2 ITA NO.7327/MUM/2017, (A.Y. 2013-14) 2. AT THE TIME OF HEARING, IT WAS SUBMITTED BY THE LD. REPRESENTATIVE FOR THE ASSESSEE THAT ASSESSEE HAD FILED A LETTER DATED 22 ND NOVEMBER, 2018 BEFORE ITAT REQUESTING FOR WITHDRAWAL OF THE A PPEAL AS THE TAX EFFECT ON THE QUANTUM INVOLVED IN THE APPEAL IS SMALL AND THE LIKELY EFFORTS/COSTS INVOLVED IN LITIGATING THE SAME ARE HIGH. THE ASSES SEE HAS ALSO FILED A LETTER DATED 1 ST MARCH,2019 REGARDING EARLY CLOSURE OF ITS APPEAL, IN WHICH ALSO IT HAD REFERRED THE ABOVE LETTER DATED 22 ND NOVEMBER, 2018 REQUESTING FOR WITHDRAWAL OF ITS APPEAL. 3. LD. DEPARTMENTAL REPRESENTATIVE FOR THE REVENUE HAS NO OBJECTION FOR THE REQUEST OF THE ASSESSEE FOR WITHDRAWAL OF T HE ABOVE APPEAL. 4. IN THIS VIEW OF THE MATTER, WE DISMISS THE APPEA L FILED BY THE ASSESSEE AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 11/03/2018. SD/- SD/- (MAHAVIR SINGH) (G.S. PANNU) JUDICIAL MEMBER VICE-PRESIDENT MUMBAI, DATED 11/03/2019 VM , SR. PS 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// (DY./ASSTT. REGISTRAR) ITAT, MUMBAI