Oraculo Stock Brockers Pvt Ltd., Ahmedabad V. The Pr. CIT-1, Ahmedabad

ITA 818/AHD/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 0562 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 2 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-07-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2014-2015
• Appeal Filed On: 10-05-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: T P HEMANI; PARIMALSINH PARMAR
• Section: 5(2); 6; 263

Judgement Text

ITA NO. 818/AHD/2019 ORACULO STOCK BROKERS PVT LTD VS. PCIT AY : 2014-15 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL, AHMEDABAD BENCH D, AHMEDABAD (THROUGH WEB-BASED VIDEO CONFERENCING PLATFORM) [CORAM: JUSTICE P P BHATT, PRESIDENT, AND WASEEM AH MED, ACCOUNTANT MEMBER] ITA NO. 818/AHD/2019 ASSESSMENT YEAR: 2014-15 ORACULO STOCK BROKERS PVT. LTD. ............ ...APPELLANT CAPITAL HOUSE-10, PARAS-II, NR. PRAHLADNAGAR GARDEN, ANANDNAGAR ROAD, AHMEDABAD [PAN : AAACO 6895 N] VS PRINCIPAL COMMISSIONER OF INCOME-TAX -1 .......... ..........RESPONDENT AHMEDABAD APPEARANCES BY SHRI T.P. HEMANI, SR. ADVOCATE & SHRI PARIMAL SINH PARMAR, FOR THE ASSESSEE SHRI SHYAM PRASAD, SR DR, FOR THE REVENUE DATE OF CONCLUDING THE HEARING : 15.07.2021 DATE OF PRONOUNCEMENT : 15.07.2021 O R D E R PER JUSTICE P P BHATT, PRESIDENT : THE ASSESSEE IS IN APPEAL BEFORE THE TRIBUNAL AGAIN ST THE ORDER OF THE LEARNED PRINCIPAL COMMISSIONER OF INCOME-TAX-1, AHMEDABAD D ATED 15.03.2019 PASSED UNDER SECTION 263 OF THE INCOME-TAX ACT (IN SHORT THE AC T) PASSED FOR ASSESSMENT YEAR 2014-15. 2. WE HAVE HEARD THE LEARNED REPRESENTATIVES OF BOTH T HE PARTIES THROUGH VIDEO CONFERENCING. LEARNED COUNSEL FOR THE ASSESSE E, AT THE OUTSET, SUBMITTED THAT ASSESSEE-COMPANY HAS OPTED TO AVAIL THE BENEFI TS OF VIVAD SE VISHWAS SCHEME, 2020 AND ALSO APPRISED THE BENCH THAT THE ASSESSEE-COMPANY HAS RECEIVED FORM NO.5 ISSUED BY THE PRINCIPAL COMMISSI ONER OF INCOME TAX, AHMEDABAD-1 IN THIS REGARD, WHICH IS PLACED ON RECO RD. IT WAS, THEREFORE, PLEADED THAT THE APPEAL MAY BE ALLOWED TO BE WITHDR AWN. ITA NO. 818/AHD/2019 ORACULO STOCK BROKERS PVT LTD VS. PCIT AY : 2014-15 PAGE 2 OF 2 3. HAVING HEARD BOTH THE SIDES, WE ARE INCLINED TO ALLOW THE INSTANT APPEAL OF THE ASSESSEE TO BE WITHDRAWN YIELDING TO THE PRAYER OF THE LEARNED COUNSEL FOR THE ASSESSEE AS THE ASSESSEE BEFORE US HAS ALREADY PREFERRED TO AVAIL THE VIVAD-SE- VISHWAS SCHEME. THE ASSESSEE-COMPANY HAS ALSO PLAC ED ON RECORD THE ORDER FOR FULL AND FINAL SETTLEMENT OF TAX ARREARS UNDER SECT ION 5(2) READ WITH SECTION 6 OF THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 (FORM-5) ISSUED BY THE PCIT, AHMEDABAD-1. IN THE LIGHT OF AFORESAID REQUEST MAD E BY THE ASSESSEE, AS ALSO FOR THE REASON THAT THE FORM NO.5 IS ALREADY ON RECORD, THE APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DIS MISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE COURT ON 15 TH JULY 2021 AT AHMEDABAD. SD/- SD/- WASEEM AHMED JUSTICE P P BHATT (ACCOUNTANT MEMBER) (PRESIDENT) AHMEDABAD, DATED THE 15 TH DAY OF JULY, 2021 BT* COPIES TO: (1) THE APPELLANT (2) THE RESPOND ENT (3) CIT (4) CIT(A) (5) DR (6) GUARD FILE BY ORDER TRUE COPY ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL AHMEDABAD BENCHES, AHMEDABAD 1. D ATE OF DICTATION: .....15.07.2021.. 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE D ICTATING MEMBER: .. 15.07.2021....... 3. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. P. S./P.S.: .15.07.2021........ 4. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DI CTATING MEMBER FOR PRONOUNCEMENT:15.07.2021 5. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK : .. ................. 6. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK : .. 7. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGIST RAR FOR SIGNATURE ON THE ORDER: ... 8. DATE OF DESPATCH OF THE ORDER: ......