Deputy Commissioner of Income-tax, Circle - 1(2), Pune V. Danfoss Power Solutions India Pvt.Ltd, Pune

ITA 84/PUN/2018

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 5292 (ITAT-PUNE)
• Duration Of Justice: 3 year(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-02-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 01-12-2020
• Assessment Year: 2007-2008
• Appeal Filed On: 10-01-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MAHADEVAN A M KRISHNAN
• Assessee Lawyers: NISHANT SHAH

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, PUNE (THROUGH VIRTUAL COURT) BEFORE SHRI INTURI RAMA RAO , ACCOUNTANT MEMBER AND SHRI PARTHA SARATHI CHAUDHURY, J UDICIAL M EMBER . / I TA NO. 84 /PUN/20 18 / ASSESSMENT YEAR : 2007 - 08 THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 1(2), PUNE. ....... / APPELLANT / V/S. DANFOSS POWER SOLUTIONS INDIA PVT. LTD. GAT NO.94 - 100, HIGH CLIFF INDUSTRIAL ESTATE, WAGHOLI RAHU ROAD, VILLAGE - KESNAND, PUNE - 412 207. PAN: AAFCS2954P / RESPONDENT A SSESSEE BY : SHRI NISHANT SHAH REVENUE BY : SHRI MAHADEVAN A.M KRISHNAN / DATE OF HEARING : 0 9 . 0 2 .202 1 / DATE OF PRONOUNCEMENT : 09 . 02 .2021 / ORDER THIS APPEAL PREFERRED BY THE REVENUE EMANATES FROM THE ORDER OF THE LD. CIT(APPEALS) - 38, NEW DELHI DATED 21.09.2017 FOR THE ASSESSMENT YEAR 2007 - 08 AS PER THE GROUNDS OF APPEAL ON RECORD. 2 ITA NO. 84 /PUN/20 18 A.Y. 2007 - 08 2. THE LD. AR FOR THE ASSESSEE SUBMITTED THAT THE ASSESSEE WANTS TO WITHDRAW THE APPEAL AS THE ASSESSEE HAS OPTED FOR VIVAD SE VISHWAS SCHE ME AND HAS FILED AN APPLICATION DATED 08.02.2021 ALONG WITH FORM - 3 IN THIS REGARD BY STATING AS FOLLOWS: RE. DANFOSS POWER SOLUTIONS INDIA PRIVATE LIMITED (THE COMPANY) PAN: AAFCS2954P ASSESSMENT YEAR (AY) :2007 - 08 APPEAL NO. ITA NO. 84/PUN/2018 SUB : APPLICATION FOR WITHDRAWAL OF APPEAL WE REFER TO THE CAPTIONED APPEAL FILED BY THE INCOME TAX DEPARTMENT. IN THIS REGARD, THE COMPANY SUBMITS THAT IT HAS OPTED FOR THE VIVAD SE VISHWAS SCHEME ('THE SCHEME') F OR THE YEAR UNDER CONSIDERATION WITH A VIEW TO SETTLE THE PENDING TAX DISPUTE. IN THIS REGARD, THE COMPANY FILED A DECLARATION IN FORM NO. 1 TO OPT FOR THE SCHEME AND FURTHER AN UNDERTAKING IN FORM NO. 2 WAIVING AL L ITS RIGHTS TO ANY CLAIMS FOR THE CAPTIONED APPEAL AS PER THE PROCEDURE LAID DOWN IN THE DIRECT TAX VIV AD SE VISHWAS ACT, 2020 READ WITH THE CORRESPONDING DIRECT TAX VIVAD SE VISHWAS RULES, 2020 ('THE RULES' ). COPY OF FORM NO. 1 AND FORM NO. 2 ENCLOSED AS ANNEXURE 1 FOR YOUR HONORS REFERENCE. SUB SEQUENTLY, THE DESIGNATED AUTHORITY ISSUED A CERTIFICATE ( NUMBER 238103600030221) DATED 3 FEBRUARY, 2021 IN FORM 3 AS PRESCRIBED UNDER THE RULES CONFIRMING THE ACCEPTANCE OF THE FORM 1 AND 2. COPY OF THE FORM 3 ISSUED HAS BEEN ENCLOSED AS ANNEXURE 2 FOR Y OUR HONOURS REFERENCE. IN THE LIGHT OF THE ABOVE, THE COMPANY REQUESTS YOUR HONOUR TO KINDLY MARK THE AFORESAID APPEAL AS WITHDRAWAL/SETTLED UNDER THE SCHEME. WE HOPE YOUR HONOUR WILL ACCEDE TO OUR REQUEST AND OBLIGE. THE LD. DR HAS NO OBJECTION REGARDING WITHDRAW AL APPLICATION FILED BY THE ASSESSEE . HENCE, WE PERMIT THE WITHDRAWAL. APPEAL OF REVENUE IS DISMISSED BEING WITHDRAWN. 3. IN THE RESULT , THE APPEAL OF REVENUE IS DISMISSED AS WITHDRAWN. ORDER PRO NOUNCED ON 09 TH DAY OF FEBRUARY , 20 2 1 . SD/ - SD/ - INTURI RAMA RAO PARTHA SARATHI CHAUDHURY ACCOUNTANT MEMBER JUDICIAL MEMBER / PUNE; / DATED : 09 TH FEBRUARY , 202 1 SB 3 ITA NO. 84 /PUN/20 18 A.Y. 2007 - 08 / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. THE CIT(APPEALS) - 38, NEW DELHI. 4. THE PR. CIT - 5, PUNE. 5 . , , , / DR, ITAT, C BENCH, PUNE. 6 . / GUARD FILE. / BY ORDER, // TR UE C O PY // / PRIVATE SECRETARY , / ITAT, PUNE . 4 ITA NO. 84 /PUN/20 18 A.Y. 2007 - 08 DATE 1 DRAFT DICTATED ON 0 9 . 02 .202 1 SR.PS/PS 2 DRAFT PLACED BEFORE AUTHOR 09 . 02 .202 1 SR.PS/PS 3 DRAFT PROPOSED AND PLACED BEFORE THE SECOND MEMBER JM/AM 4 DRAFT DISCUSSED/APPROVED BY SECOND MEMBER AM/JM 5 APPROVED DRAFT COMES TO THE SR. PS/PS SR.PS/PS 6 KEPT FOR PRONOUNCEMENT ON SR.PS/PS 7 DATE OF UPLOADING OF ORDER SR.PS/PS 8 FILE SENT TO BENCH CLERK SR.PS/PS 9 DATE ON WHICH THE FILE GOES TO THE HEAD CLERK 10 DATE ON WHICH FILE GOES TO THE A.R 11 DATE OF DISPATCH OF ORDER