PANASONIC LIFE SOLUTIONS INDIA PVT LTD (FORMERLY KNOW AS ANCHOR ELECTRICALS PVT LTD), THANE V. ASST CIT CC 7(2), MUMBAI

ITA 7862/MUM/2019

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 8691 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 7 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-07-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: J
• Assessment Year: 2015-2016
• Appeal Filed On: 20-12-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VATSALYA SAXENA
• Assessee Lawyers: PALAK MEHTA
• Section: 20

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL J BENCH, MUMBAI BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENT AND SHRI S. RIFA UR RAHMAN, ACCOUNTANT MEMBER IT A NO. 7862 /MUM./2019 ( ASSESSMENT YEAR : 20 15 16 ) PANASONIC LIFE SOLUTIONS INDIA PVT. LTD. (FORMERLY KNOWN AS ANCHOR ELECTRICALS PVT. LTD.), 3 RD FLOOR, B WING THINK TECHNO , MUMBAI 400 058 PAN AAECA2190C . APPELLANT V/S ASSTT. COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 7 ( 2 ), MUMBAI . RESPONDENT ASSESSEE BY : MS. PALAK MEHTA REVENUE BY : SHRI VATSALYA SAXENA DATE OF HEARING 2 6 .0 7 .202 1 DATE OF ORDER 26.07.2021 O R D E R PER S. RIFAUR RAHMAN, A.M. THE CAPTIONED APPEAL HAS BEEN FILED BY THE ASSESSEE CHALLENGING THE ORDER DATED 20 TH SEPTEMBER 2019, PASSED UNDER SECTION 144C(5) OF THE INCOME TAX ACT, 1961 (FOR SHORT 'THE ACT' ) IN PURSUANCE TO THE DIRECTIONS OF LEANED DISPUTE RESOLUTION PANEL (DRP) 2, MUMBAI, PERTAINING TO THE ASSESSMENT YEAR 2015 16. 2. WHILE GOING THROUGH THE RECORD AVAILABLE BEFORE US, WE FIND THAT THE ASSESSEE HAS FILED A LETTER DATED 5 TH APRIL 2021, SEEKING WITHDRAWAL 2 PANASONIC LIFE SOLUTIONS INDIA PVT. LTD. OF ITS APPEAL IN VIEW OF THE FACT THAT IT HAS APPLIED FOR SETTLING THE TAX DISPUTE UNDER THE VIVAD SE VISHWAS TAX SCHEME, 2020. THE LETTER SUBMITTED BY THE ASSESSEE IS ACCOMPANIED BY FORM 1 AND 2 OF THE DECLARATION FILED UNDER THE AFORESAID SCHEME AND FORM NO. 3 ISSUED BY THE R E VENUE . THE AFORESAID LETTER ALONG COPY OF FORM NO.1 , 2 AND 3 , ARE ALSO 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 ASSESSEE TO WITHDRAW THE APPEAL AT THIS STAGE S INCE THE DEPARTMENT ISSUED FORM NO.3 . WITH THE SE OBSERVATIONS, THE APPEAL BY THE ASSESSEE IS LIABLE TO BE DISMISSED AS WITHDRAWN . 5. IN THE RESULT, ASSESSEES APPEAL IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 26.07.2021 SD/ - MAHAVIR SINGH VICE PRESIDENT SD/ - S. RIFAUR RAHMAN ACCOUNTANT MEMBER MUMBAI, DATED: 26.07.2021 3 PANASONIC LIFE SOLUTIONS INDIA PVT. 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