M/s lokkur Investment Advisors Private Limited , Bangalore V. Income Tax Officer Ward-4(1)(1), Bangalore

ITA 81/BANG/2019

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 2710 (ITAT-BANGALORE)
• Duration Of Justice: 1 year(s) 10 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-11-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2014-2015
• Appeal Filed On: 11-01-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: SUDHINDRA B R
• Section: 254(2)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH: BANGALORE BEFORE SHRI N. V. VASUDEVAN, VICE PRESIDENT AND SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER ITA NO. 81 /BANG/201 9 ASSESSMENT YEAR: 20 1 4 - 1 5 M/S. LOKKUR INVESTMENTS ADVISORS PVT. LTD. NO.301, BRIGADE ARDENS, CHURCH STREET BANGALORE-560 001. PAN NO : AACCL 5301 J VS. ITO WARD-4(1)(1) BANGALORE APPELLANT RESPONDENT APPELLANT BY : SHRI. SUDHINDRA B. R, ADVOCATE RESPONDENT BY : S HRI . KANNAN NARAYANAN , D.R. DATE OF HEARING : 26 . 1 1 .20 20 DATE OF PRONOUNCEMENT : 26 . 1 1 .20 20 O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER: THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF CIT(A)-4, BENGALURU DATED 28.11.2018 FOR THE ASSESSMENT YEAR 2014-15. 2. AT THE TIME OF HEARING, THE LD A.R SUBMITTED THAT THE ASSESSEE HAS FILED APPLICATION UNDER THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 AND HAS RECEIVED FORM NO.3 CERTIFICATE FROM THE PR. CIT. L EARNED DEPARTMENTAL REPRESENTATIVE HAS NO OBJECTION. ITA NO.81/BANG/2019 PAGE 2 OF 2 3. WE HEARD THE RIVAL CONTENTIONS AND PERUSED THE MATERIAL ON RECORD. THE ASSESSEE HAS OPTED FOR VIVAD SE VISHWAS SCHEME, 2020, AND HAS FILED FORM NOS.1 AND 2. SINCE THE ASSESSEE HAS ALREADY FILED THE APPLICATION FOR OPTING FOR VIVAD SE VISHWAS SCHEME, 2020, WE ARE OF THE VIEW THAT NO PURPOSE WILL BE SERVED IN KEEPING THE APPEAL PENDING. ACCORDINGLY, WE DISMISS THE APPEAL OF THE ASSESSEE AS WITHDRAWN AND THE ASSESSEE IS AT LIBERTY TO MOVE AN APPLICATION UNDER SECTION 254(2) OF THE ACT TO RECALL THE PRESENT ORDER IF THE ASSESSEE INDENTS TO DO SO, IN ACCORDANCE WITH THE PROVISIONS OF LAW. 4. IN THE RESULT, APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN. PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED ON THE CAPTION PAGE. SD/- SD/- (N. V. VASUDEVAN) (CHANDRA POOJARI) VICE PRESIDENT ACCOUNTANT MEMBER BANGALORE, DATED : 26 TH NOV, 2020. NS* COPY TO: 1. THE APPLICANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT(A) 5. THE DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASST. REGISTRAR, ITAT, BANGALORE.