DCIT CENTRAL CIRCLE-8(3), MUMBAI V. ASTRAL SECURITIES PVT. LTD, MUMBAI

ITA 7357/MUM/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 2144 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 11 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-12-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: misc
• Appeal Filed On: 21-12-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: BRAJENDRA KUMAR LD
• Assessee Lawyers: TRUPTI SHAH LD
• Keywords: Condonation of delay

Judgement Text

ITA NO.7357/MUM/2018 ASSESSMENT YEAR: 2009-10 1 IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, MUMBAI , , BEFORE HONBLE SHRI SAKTIJIT DEY, JM AND HONBLE SHRI MANOJ KUMAR AGGARWAL, AM (HEARING THROUGH VIDEO CONFERENCING MODE) ./ I.T.A. NO.7357/MUM/2018 ( / ASSESSMENT YEAR: 2009-10) D CIT - CIRCLE - 8 (3) ROOM NO.659, 6 TH FLOOR AAYKAR BHAVAN, M.K. ROAD MUMBAI-400 020. / VS. M/S. ASTRAL SECU RITIES PVT.LTD. 304, HERITAGE PLAZA, J.P. ROAD ANDHERI (W) MUMBAI-400 053. PAN/GIR NO. AAECA - 1006 - D ( '# /APPELLANT ) : ( $%'# / RESPONDENT ) ASSESSEE BY : MS. TRUPTI SHAH LD. AR REVENUE BY : SHRI BRAJENDRA KUMAR-LD. DR / DATE OF HEARING : 03/12/2020 / DATE OF PRONOUNCEMENT : 03/12/2020 / O R D E R MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. BY WAY OF THIS APPEAL, THE DEPARTMENT CONTESTS T HE ORDER OF LD. FIRST APPELLATE AUTHORITY ON CERTAIN GROUNDS OF APPEAL. 2. THE LD. AR, AT THE OUTSET, SUBMITTED THAT THE AS SESSEE HAS ALREADY OPTED FOR VIVAD SE VISHWAS SCHEME (VVS SCHEME) AND FILED REQUISITE FORM-1 & FORM-2. THE COPY OF THE SAME HAS BEEN PLAC ED ON RECORD. 3. KEEPING IN VIEW THE AFORESAID SUBMISSIONS AND IN TERMS OF DECISION OF HONBLE MADRAS HIGH COURT IN M/S NANNUSAMY MOHAN (HUF) V/S ITA NO.7357/MUM/2018 ASSESSMENT YEAR: 2009-10 2 ACIT (TCA NO. 372 OF 2020) DATED 16/10/2020, THE BENCH DEEM IT FIT TO DISMISS THE APPEAL. ACCORDINGLY, GOING BY THE SAID DECISION, SINCE THE ASSESSEE HAS OPTED FOR VVS SCHEME, THE APPEAL STAND DISMISSED. HOWEVER, THE REVENUE IS GIVEN LIBERTY TO SEEK RESTO RATION OF THIS APPEAL IN THE EVENT THE ULTIMATE DECISION TO BE TAKEN ON THE DECLARATION FILED BY THE ASSESSEE U/S 4 OF THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 IS NOT IN FAVOR OF THE ASSESSEE. IF SUCH PRAYER IS MADE, THE REGISTRY SHALL ENTERTAIN THE PRAYER FORTHWITH WITHOUT INSISTING UPON ANY APP LICATION TO BE FILED FOR CONDONATION OF DELAY IN RESTORATION OF THE APPEAL A ND ON SUCH REQUEST BEING MADE BY THE REVENUE BY FILING A MISCELLANEOUS APPLICATION FOR RESTORATION, THE REGISTRY SHALL PLACE SUCH PETITION BEFORE THE BENCH FOR ORDERS. 4. IN VIEW OF THE FOREGOING, THE APPEAL STANDS DISM ISSED. ORDER PRONOUNCED ON 03 RD DECEMBER, 2020. SD/- SD/- (SAKTIJIT DEY) (MANOJ KUMAR AGGARWAL) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI; DATED : 03/12/2020 SR.PS:-JAISY VARGHESE '# $# / COPY OF THE ORDER FORWARDED TO : 1. '# / THE APPELLANT 2. $%'# / THE RESPONDENT 3. ( ) / THE CIT(A) 4. / CIT CONCERNED 5. + ,$- , - , / DR, ITAT, MUMBAI 6. , ./0 / GUARD FILE / BY ORDER, / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI.