BHARAT PETROLEUM CORPORATION LTD., MUMBAI V. DY CIT CIRCLE-2(1)(1), MUMBAI

ITA 7400/MUM/2018

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 4888 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-01-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: K
• Assessment Year: 2012-2013
• Appeal Filed On: 24-12-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SUNIL DESH
• Assessee Lawyers: MAYUR SINGHAL

Judgement Text

, IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH K, MUMBAI , ' ,# $ BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI N.K.PRADHAN, ACCOUNTANT MEMBER . 7400/ / 2018 (. . 2012-13 ) ITA NO.7400/MUM/2018(A.Y.2012-13) . 7401/ / /20 18 (. . 2013-14 ) ITA NO.7401/MUM/2018(A.Y.2013-14 ) BHARAT PETROLEUM CORPORATION LTD., TAXATION SECTION, 3 RD FLOOR, BHARAT BHAVAN II, 4 & 6 CURRIMBHOY ROAD, BALLARD ESTATE, MUMBAI 400 001 PAN:AAACB2902M ...... + / APPELLANT [[ VS. DY. COMMISSIONER OF INCOME TAX -2(1)(1), ROOM NO.561, AAYKAR BHAVAN, M.K.ROAD, MUMBAI 400 020 ..... ',/ RESPONDENT . 160/ / 2019 (. . 2012-13 ) ITA NO.160/MUM/2019(A.Y.2012-13) . 161/ / /20 19 (. . 2013-14 ) ITA NO.161/MUM/2019(A.Y.2013-14 ) DY. COMMISSIONER OF INCOME TAX- 2(1)(1), MUMBAI 400 020 ...... + / APPELLANT VS. BHARAT PETROLEUM CORPORATION LTD., TAXATION SECTION, 3 RD FLOOR, BHARAT BHAVAN II, 4 & 6 CURRIMBHOY ROAD, BALLARD ESTATE, MUMBAI 400 001 PAN:AAACB2902M ..... ',/ RESPONDENT 2 ITA NO.7400&7401/MUM/2018(A.Y.2012-13& 2013-14) ITA NO.160&161/MUM/2019(A.Y.2012-13& 2013-14) ASSESSEE BY : SHRI MAYUR SINGHAL REVENUE BY : SHRI SUNIL DESHPANDE -, / DATE OF HEARING : 19/01/2021 ./0 -, / DATE OF PRONOUNCEMENT : 19/01/2021 / ORDER PER BENCH: THESE ARE CROSS APPEALS BY THE ASSESSEE AND THE RE VENUE FOR ASSESSMENT YEARS 2012-13 AND 2013-14. ITA NO.160/MUM/2019 BY THE REVENUE AND ITA NO.7400/MUM/2018 BY THE ASSESSEE ARE DIRECTED AGAI NST THE ORDER OF COMMISSIONER OF INCOME TAX (APPEALS) -55 MUMBAI [ IN SHORT THE CIT(A)] DATED 15/10/2018 FOR ASSESSMENT YEAR 2012-13. ITA NO.161/MUM/2019 BY TH E REVENUE AND ITA NO.7401/MUM/2018 BY THE ASSESSEE ARE AGAINST THE O RDER OF CIT(A) -55, MUMBAI DATED 31/10/2018 FOR THE ASSESSMENT YEAR 2013-14. 2. THE ASSESSEE HAS FILED LETTER DATED 16/01/2021 S TATING THAT ASSESSEE HAS FILED DECLARATION UNDER VIWAD SE VISHWAS SCHEME, 2020( IN SHORT VSVS) FOR RESOLUTION OF ALL THE FOUR APPEALS. THE APPROVAL FROM DEPAR TMENT IN FORM 3 IS AWAITED. SHRI MAYUR SINGHAL, GENERAL MANAGER (TAXATION) OF THE A SSESSEE COMPANY STATED THAT ASSESSEE HAS OPTED FOR VSVS. THE ASSESSEE MAY BE P ERMITTED TO WITHDRAW THE APPEALS WITH LIBERTY TO REVIVE THE APPEALS INCASE THE DECLARATION MADE UNDER VSVS IS NOT ACCEPTED. 3. SHRI SUNIL DESHPANDE, REPRESENTING THE DEPART MENT STATED THAT THE DEPARTMENT HAS NO OBJECTION IF THE ASSESSEE WANTS TO WITHDRAW ITS APPEALS TO AVAIL THE BENEFIT OF VSVS. 3 ITA NO.7400&7401/MUM/2018(A.Y.2012-13& 2013-14) ITA NO.160&161/MUM/2019(A.Y.2012-13& 2013-14) 4. BOTH SIDES HEARD. THE ASSESSEE HAS OPTED FOR V SVS FOR RESOLUTION OF ISSUES RAISED IN CROSS APPEALS. IN VIEW OF THE STATEMENT MADE BY SHRI MAYUR SINGHAL, GENERAL MANAGER (TAXATION), THE APPEALS BY THE ASSE SSEE ARE DISMISSED AS WITHDRAWN AT THIS STAGE. SINCE, THE ASSESSEE HAS ALSO OPTED FOR VSVS IN RESPECT OF CROSS APPEALS BY THE REVENUE, THE APPEALS FILED BY THE REVENUE H AVE BECOME INFRUCTUOUS AND ARE DISMISSED, AS SUCH. 5. LIBERTY IS GRANTED TO THE ASSESSEE AND REVENUE T O REVIVE THEIR RESPECTIVE APPEALS IN THE EVENT APPLICATION FILED BY THE ASSE SSEE UNDER VSVS FAILS TO MATURE. IT IS FURTHER MADE CLEAR THAT IF THE ASSESSEE /REVENUE SEEKS TO RESTORE THE APPEAL(S) IN THE EVENT ASSESSEES DECLARATION MADE UNDER VSVS IS NOT ACCEPTED, THE REGISTRY SHALL NOT INSIST FOR FILING OF APPLICATION FOR CONDONATIO N 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. NAN NUSAMY MOHAN(HUF) VS. ACIT IN T.C.A NO.372 OF 2020 DECIDED ON 16/10/2020 BY HONBLE MADRAS HIGH COURT] 6. IN THE RESULT, APPEALS BY THE ASSESSEE ARE DISM ISSED AS WITHDRAWN AND APPEALS BY THE REVENUE ARE DISMISSED HAVING BECOME INFRUCT UOUS. ORDER PRONOUNCED IN THE OPEN COURT ON TUESDAY, THE 19 TH DAY OF JANUARY, 2021. SD/- SD/- (N.K.PRADHAN) (VIKAS AWASTHY) # / ACCOUNTANT MEMBER / JUDICIAL MEMBER / MUMBAI, 2/ DATED 19/01/2021 VM , SR. PS (O/S) 4 ITA NO.7400&7401/MUM/2018(A.Y.2012-13& 2013-14) ITA NO.160&161/MUM/2019(A.Y.2012-13& 2013-14) ',340, COPY OF THE ORDER FORWARDED TO : 1. + / THE APPELLANT , 2. ', / THE RESPONDENT. 3. 5, ( )/ THE CIT(A)- 4. 5, CIT 5. 67', , . . . , / DR, ITAT, MUMBAI 6. 789:; / GUARD FILE. BY ORDER, //TRUE COPY// (DY./ASSTT. REGISTRAR) ITAT, MUMBAI