Krishna Bhima Samruddin Loacal Area Bank Limited, Hyderabad, Secunderabad V. ACIT, Circle-5(1), Hyderabad, Hyderabad

ITA 822/HYD/2017

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 4301 (ITAT-HYDERABAD)
• Duration Of Justice: 3 year(s) 8 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-02-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-B
• Next Hearing Date: 15-04-2021
• Assessment Year: 2012-2013
• Appeal Filed On: 11-05-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: M V ANIL KUMAR
• Section: 201; 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD B BENCH, HYDERABAD (THROUGH VIDEO CONFERENCING) BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ITA NO. 822 / HYD/201 7 ASSESSMENT YEAR: 201 2 - 13 KRISHNA BHIMA SAMRUDD HI LOCAL AREA BANK LIMITED HYDERABAD [ PAN: AABCK3666N ] VS. ACIT, CIRCLE 5(1) HYDERABAD ( APPELLANT) (RESPONDENT) ASSESSEE BY: SRI M.V. ANIL KUMAR, ADV. REVENUE BY : SRI R OHIT MUJUMDAR, DR DATE OF HEARING: 21 / 01 / 2021 DATE OF PRONOUNCEMENT: 01/02/ 20 21 ORDER PER SMT. P. MADHAVI DEVI, J.M THIS IS ASSESSEES APPEAL FOR THE A.Y 2011 2 - 13 AGAINST THE ORDER OF THE CIT (A) - 10 , HYDERABAD, DATED 08 - 11 - 2016 . 2. A T THE OUTSET, THE LD. AR S UBMITTED BEFORE US TH AT THE ASSESSEE DOES NOT WANT TO PURSUE THE APPEAL AS IT HAS ALREADY FILED FORMS I & II UNDER THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 SCHEME AND IT HAS ALSO BEEN ISSUED FORM 3 FROM THE PR.CIT, HYDERABAD. THEREFORE, CONSEQUENT TO THE SAME, THE ASSESSEE DESIRES TO WITHDRAW THE APPEAL BEFORE THE TRIBUNAL. HENCE IT WAS ITA NO 822 /HYD/ 17 AY 20 12 - 13 KRISHNA BHIMA SAMRUDD HI LOCAL AREA BANK LTD. 2 PLEADED, THAT THE APPEAL OF THE ASSESSEE MAY BE TREATED AS WITHDRAWN. 3. THE LD. DR CONCEDED TO THE REQUEST OF THE LD. AR. 4. AFTER HEARING BOTH THE PARTIES, ACCORDING TO THE REQUEST OF THE ASSESSEE AND ITS LD. AR, WE HEREBY ALLOW THE APPEAL OF THE ASSESSEE TO BE WITHDRAWN. WE ALSO MAKE IT CLEAR THAT THE ASSESSEE SHALL BE AT LIBERTY TO APPROACH THE TRIBUNAL WITHIN THE STIPULATED TIME AS PROVIDED UNDER THE ACT, IN ORDER TO REINSTATE THE APPEAL, IF THE APPLICATION WITH RESPECT TO VIVAD SE VISHWAS SCHE ME IS REJECTED. 5. IN THE RESULT, A PPEAL OF ASSESSEE IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 01 ST FEBRUARY, 2021 . SD/ - SD/ - (A. MOHAN ALANKAMONY) ACCOUNTANT MEMBER (P. MADHAVI DEVI) JUDICIAL MEMBER HYDERABAD, DATED 01 ST FEBRUARY, 2021 . * GMV COPY TO: 1 KRISHNA BHIMA SAMRUDDHI LOCAL AREA BANK LIMITED, C/O M. ANANDAM & CO., CHARTERED ACCOUNTANTS, 7 A, SURYA TOWERS, S.D.ROAD, SECUNDERABAD 500 003 . 2 ACIT, CIRCLE 5(1) HYDERABAD /ACIT, RANGE 5 , HYDERABAD 3 CIT (A) - 10 HYDERABAD 4 CCIT, (IT)(SZ) BANGALORE 5. PR. CIT - IV , HYDERABAD 6 THE DR, ITAT HYDERABAD 7 GUARD FILE