MUKUND LTD, MUMBAI V. DCIT 3(2), MUMBAI

ITA 8449/MUM/2011

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 2657 (ITAT-MUMBAI)
• Duration Of Justice: 8 year(s) 11 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-11-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 24-02-2015
• Assessment Year: 2005-2006
• Appeal Filed On: 13-12-2011

Judgement Text

T HE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI SHRI SHAMIM YAHYA ( A M) & SHRI RAMLAL NEGI (JM) I.T.A. NO. 8449/MUM/2011 (ASSESSMENT YEAR 2005 - 06) I.T.A. NO. 1626/MUM/2012 (ASSESSMENT YEAR 2006 - 07) I.T.A. NO. 3090 /MUM/ 201 2 (ASSESSMENT YEAR 2007 - 08 ) MUKUND LIMITED BAJAJ BHAVAN 3 RD FLOOR , 226 NARIMAN POINT MUMBAI - 400 021. PAN : AAACM5008R V S . DCIT - 3(2) AAYAKAR BHAVAN M.K. ROAD CHURCHGATE MUMBAI - 400 020. ( APPELLANT ) ( RESPONDENT ) I.T.A. NO. 2837/MUM/2013 (ASSESSMENT YEAR 2006 - 07) MUKU ND ENGINEERS LTD. BAJAJ BHAVAN 3 RD FLOOR, 226 NARIMAN POINT MUMBAI - 400 021. PAN : AAACM 4974G V S . ITO - 3(2) (2) AAYAKAR BHAVAN M.K. ROAD CHURCHGATE MUMBAI - 400 020. ( APPELLANT ) ( RESPONDENT ) ASSESSEE BY MS. WASANTI PATEL DEPARTMENT BY SHRI H.N. SI NGH & SHRI OOMMEN THARIAN DATE OF HEARING 17 . 1 1 . 20 20 DATE OF PRONOUNCEMENT 18 . 1 1 . 20 20 O R D E R PER SHAMIM YAHYA (AM) : - THE S E ARE APPEAL S BY TWO ASSESSEES, DIRECTED AGAINST THE RESPECTIVE ORDER S OF LEARNED COMMISSIONER OF INCOME TAX (APPEA LS) [IN SHORT LEARNED CIT(A)] PERTAINING TO ASSESSMENT YEARS AS ABOVE. MUKUND LIMITED & MUKUND ENGINEERS LTD. 2 2 . AT THE OUTSET, IN THESE CASE S LEARNED COUNSEL OF THE ASSESSEE SUBMITTED THAT THE ASSESSEE HAS OPTED FOR SOLUTION OF DISPUTE UNDER THE VIVAD SE VISHWAS SCHEME. 3 . WE NOTE THAT IN A SIMILAR SITUATION, HON'BLE MADRAS HIGH COURT HAS IN AN APPEAL IN THE CASE OF M/S. NANNUSAMY MOHAN (HUF) VS. ACIT VIDE ORDER DATED 16.10.2020 HELD AS UNDER : - 3. THE LEARNED COUNSEL FOR THE APPELLANT/ASSESSEE, ON INSTRUCTIONS, SUBMITTED THAT THE APPELLA NT/ASSESSEE INTENDS TO AVAIL THE BENEFIT OF VIVAD SE VISHWAS SCHEME (VVS SCHEME FOR BREVITY) AND IN THIS REGARD, THE ASSESSEE IS TAKING STEPS TO FILE THE APPLICATION/DECLARATION IN FORM NO. I. 4. IT MAY NOT BE NECESSARY FOR THIS COURT TO DECIDE THE SUBST ANTIAL QUESTIONS OF LAW FRAMED FOR CONSIDERATION ON ACCOUNT OF CERTAIN SUBSEQUENT DEVELOPMENTS. THE GOVERNMENT OF INDIA ENACTED THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020 (ACT 3 OF 2020) TO PROVIDE FOR RESOLUTION OF DISPUTED TAX AND FOR MATTERS CONNECTED TH EREWITH OR INCIDENTAL THERETO. THE ACT OF THE PARLIAMENT RECEIVED THE ASSENT OF THE PRESIDENT ON 17 TH MARCH 2020 AND PUBLISHED IN THE GAZETTE OF INDIA ON 17 TH MARCH 2020. 5. IN TERMS OF THE SAID ACT, THE ASSESSEE HAS BEEN GIVEN AN OPTION TO PUT AN END TO THE TAX DISPUTES, WHICH MAY BE PENDING AT DIFFERENT LEVELS EITHER BEFORE THE FIRST APPELLATE AUTHORITY OR BEFORE THE TRIBUNAL OR BEFORE THE HIGH COURT OR BEFORE THE HON'BLE SUPREME COURT OF INDIA. UNDER SECTION 2(J) DISPUTED TAX HAS BEEN DEFINED. IN TER MS OF SECTION 3, WHERE A DECLARANT MEANS A PERSON, WHO FILES A DECLARATION UNDER SECTION 4 ON OR BEFORE THE LAST DATE FILES A DECLARATION TO THE DESIGNATED AUTHORITY IN ACCORDANCE WITH THE PROV ISIONS OF SECTION 4 IN RESPECT OF TAX ARREARS, THEN, NOTWITHSTA NDING ANYTHING CONTAINED IN THE INCOME TAX ACT OR ANY OTHER LAW FOR THE TIME BEING IN FORCE, THE AMOUNT PAYABLE BY THE DECLARANT SHALL BE DETERMINED IN TERMS OF SECTION 3(A - C) THEREUNDER. 6. THE FIRST PROVISO TO SECTION 3 STATES THAT IN CASE, WHERE AN AP PEAL OR WRIT PETITION OR SPECIAL LEAVE PETITION IS FILED BY THE INCOME TAX AUTHORITY ON ANY ISSUE BEFORE THE APPELLATE FORUM, THE AMOUNT PAYABLE SHALL BE ONE - HALF OF THE AMOUNT IN THE TABLE STIPULATED IN SECTION 3 CALCULATED ON SUCH ISSUE, IN SUCH A MANNER AS MAY BE PRESCRIBED. THE SECOND PROVISO DEALS WITH THE CASES, WHERE THE MATTER IS BEFORE THE COMMISSIONER (APPEALS) OR BEFORE THE DISPUTE RESOLUTION PANEL. THE THIRD PROVISO DEALS WITH CASES, WHERE THE ISSUE IS PENDING BEFORE THE INCOME TAX APPELLATE TRI BUNAL. THE FILING OF THE DECLARATION IS AS PER SECTION 4 OF THE ACT AND THE PARTICULARS TO BE FURNISHED ARE ALSO MENTIONED IN THE SUB SECTIONS OF SECTION 4 , SECTION 5 OF THE ACT DEALS WITH THE TIME AND MANNER OF THE PAYMENT AND SECTION 6 DEALS WITH IMMUNIT Y FROM INITIATION OF PROCEEDINGS IN RESPECT OF OFFENCE AND IMPOSITION OF PENALTY IN CERTAIN CASES. SECTION 9 OF THE ACT DEALS WITH CASES, WHERE THE ACT 3 OF 2020 WILL NOT BE APPLICABLE. MUKUND LIMITED & MUKUND ENGINEERS LTD. 3 7. AS OBSERVED, THE ASSESSEE IS GIVEN LIBERTY TO RESTORE THIS APPEAL IN THE EVENT THE ULTIMATE DECISION TO BE TAKEN ON THE DECLARATION TO BE FILED BY THE ASSESSEE UNDER SECTION 4 OF THE SAID ACT IS NOT IN FAVOUR OF THE ASSESSEE. IF SUCH A PRAYER IS MADE, THE REGISTRY SHALL ENTERTAIN THE PRAYER WITHOUT INSISTING UPON ANY AP PLICATION TO BE FILED FOR CONDONATION OF DELAY IN RESTORATION OF THE APPEAL AND ON SUCH REQUEST MADE BY THE ASSESSEE BY FILING A MISCELLANEOUS PETITION FOR RESTORATION, THE REGISTRY SHALL PLACE SUCH PETITION BEFORE THE DIVISION BENCH FOR ORDERS. 8. IN THE LIGHT OF THE ABOVE, WE DIRECT THE APPELLANT/ASSESSEE TO FILE THE FORM NO.I ON OR BEFORE 20.11.2020 AND THE COMPETENT AUTHORIT Y SHALL PROCESS THE APPLICATION /DECLARATION IN ACCORDANCE WITH THE ACT AND PASS APPROPRIATE ORDERS AS EXPEDITIOUSLY AS POSSIBLE PR EFERABLY WITHIN A PERIOD OF SIX (6) WEEKS FROM THE DATE ON WHICH THE DECLARATION IS FILED IN THE PROPER FORM. ACCORDINGLY, RESPECTFULLY FOLLOWING THE ABOVE AND NOTING THE FACT THAT THE ASSESSEE ES ARE BEING OPTING FOR RESOLUTION OF DISPUTE UNDER VSWS SCHE ME IN THE PRESENT CASE, WE TREAT TH E S E APPEAL S BEING DISPOSED OFF AS WITHDRAWN. 4 . THE ASSESSEE S ARE GIVEN LIBERTY FOR RESTORATION OF APPEAL S IN ACCORDANCE WITH PARAGRAPH 7 OF THE HON'BLE HIGH COURT ORDER AS ABOVE. BOTH THE PARTIES FAIRLY AGREED TO THE ABO VE. 5 . IN THE RESULT, ALL TH E S E FOUR APPEAL S BY THE ASSESSEE S ARE DISPOSED OF BY TREATING THE SAME AS WITHDRAWN. ORDER PRONOUNCED UNDER RULE 34(4) OF THE ITAT RULES BY PLACING THE RESULT ON NOTICE BOARD ON 18.11.2020. SD/ - SD/ - (RAMLAL NEGI ) (SH A MIM YAHYA ) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED : 18 / 1 1 / 20 20 COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) 4. CIT 5. DR, ITAT , MUMBAI 6. GUARD FILE. MUKUND LIMITED & MUKUND ENGINEERS LTD. 4 BY ORDER, //TRUE COPY// ( ASSISTANT REGISTRAR ) PS ITAT, MUMBAI