KONINKLIJKE VOPAK N V , MUMBAI V. ASST CIT (IT) CIRCLE-3(1)92), MUMBAI

ITA 7738/MUM/2019

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 5619 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 8 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-09-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: I
• Assessment Year: 2016-2017
• Appeal Filed On: 16-12-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: N. PADMANABAN
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES I , MUMBAI BEFORE SHRI SAKTIJIT DEY (JM) & SHRI RAJESH KUMAR (AM) ITA NO. 7738 /MUM/2019 ASSESSMENT Y EAR: 2016 - 17 KONINKLIJKE VOPAK N.V., C/O ERNST & YOUNG LLP, 16 TH FLOOR, THE R UBY, 29 SENAPATI BAPAT MARG, DADAR (WEST), MUMBAI - 400028 PAN: AAFCK4842G VS. THE ASSISTANT COMMISSIONER OF INCOME TAX - INT. TAX CIRCLE 3(1)(2), 16 TH FLOOR, AIR INDIA BUILDING, NARIMAN POINT, MUMBAI - 400021 (APPELLANT) (RESPONDENT) ASSESSEE B Y : SHRI KIRIT KAMDAR (AR) REVENUE BY : SHRI N. PADMANABAN (DR ) DATE OF HEARING : 09 /09 /202 1 DATE OF PRONOUNCEMENT: 09 / 09 /202 1 O R D E R PER SAKTIJIT DEY , JM CAPTIONED AP PEAL BY THE ASSESSEE IS AGAINST FINAL ASSESSMENT ORDER DATED 16.09.2019 PASSED UNDER SECTION 143(3) R.W.S. 144C(13) OF THE INCOME TAX ACT, 1961, IN PURSUANCE TO DIRECTIONS OF LEARNED DISPUTE RESOLUTION PANEL (DRP). 2. VIDE LETTER DATED 08.09.2021 KEPT ON RECO RD, T HE ASSESSEE HAS SUBMITTED THAT THE ASSESSEE IS UNDERGOING PROCESS OF RESTRUCTURING AND FORMING A J OINT VENTURE WITH A NEW PARTNER. H ENCE, THE ASSESSEE HAS SOUGHT PERMISSION FOR WITHDRAWAL OF THE APPEAL TO FACILITATE THE RESTRUCTURING. 3 . THE LEAR NED DEPARTMENTAL REPRESENTATIVE HAS NO OBJECTION TO THE AFORESAID REQUEST OF THE ASSESSEE. 2 ITA NO. 77 38 / MUM/2019 ASSESSMENT YEAR: 2016 - 1 7 4. IN VIEW OF THE FACTS DISCUSSED ABOVE AND CONSIDERING ASSESSEES REQUEST, WE PERMIT WITHDRAWAL OF THE PRESENT APPEAL. ACCORDINGLY, APPEAL IS DISMISSED AS WITHDRAW N. 5 . IN THE RESULT, APPEAL IS DISMISSED . ORDER PRONOUNCED IN THE OPEN COURT ON 9 TH SEPTEMBER , 2021 . SD/ - SD/ - ( RAJESH KUMAR ) ACCOUNTANT MEMBER (SAKTIJIT DEY) JUDICIAL MEMBER MUMBAI ; DATED: 09 / 09 /202 1 ALINDRA, 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