Gokul Gems and Jewels Private Limited, Hyderabad V. Asst. Commissioner of Income Tax, Central Circle-1(1), Hyderabad

ITA 851/Hyd/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 4995 (ITAT-HYDERABAD)
• Duration Of Justice: 2 year(s) 5 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-10-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-B
• Next Hearing Date: 06-10-2020
• Assessment Year: 2012-2013
• Appeal Filed On: 07-05-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: Y V S T SAI
• Section: 143(3); 153A; 201; 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD B BENCH : HYDERABAD (THROUGH VIDEO CONFERENC E ) BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ITA NO. 851 /HYD./201 8 ASSESSMENT YEAR: 201 2 - 13 M/S GOKUL GEMS AND JEWELS PVT. LIMITED VS. A C IT, HYDERABAD CENTRAL CIRCLE 1(1) HYDERABAD PAN: AA DCG0272G (APPELLANT) (RESPONDENT) FOR ASSESSEE : SH. K.C. DEVDAS , A DV. FOR REVENUE : SH. YVST SAI, CIT, D.R. DATE OF HEARING : 06 / 1 0/2020 DATE OF PRONOUNCEMENT : 12 / 10 /2020 O R D E R PER SMT. P. MADHAVI DEVI, J.M. THIS IS ASSESSEES APPEAL FILED AGAINST THE ORDER OF CIT(A) - 11, HYDERABAD DATED 21.12.2017 RELATING TO A.Y. 2012 - 13 PASSED U/S 143(3) R.W.S. 153A OF THE INCOME TAX ACT, 1961. 2. THE LD.AR FOR THE ASSESSEE HAS REQUESTED FOR WITHDRAWAL OF THE APPEAL FILED BY THE ASSESSEE STATING THAT THE ASSESSEE HAS OPTED TO SETTLE THE DISPUTE RELATI NG TO THE TAX ARREARS FOR THE A.Y. UNDER CONSIDERATION UNDER VIVAD SE VISHWAS SCHEME, 2020. AN APPLICATION TO THIS EFFECT HAS BEEN FILED BY THE ASSESSEE. 3. THE LD.CIT, DR FOR THE REVENUE HAS NO OBJECTION TO THE SAME. ITA NO. 851 /HYD/201 8 AY 201 2 - 13 M/S GOKUL GEMS & JEWELS PVT.LTD., HYD. 2 4. IN VIEW OF THE ABOVE, WE ACCEP T THE REQUEST OF THE ASSESSEE FOR WITHDRAWAL OF THE APPEAL. 5. HOWEVER, THE AFORESAID IS SUBJECT TO A CAVEAT THAT IN CASE THE DISPUTE RELATING TO TAX ARREARS FOR THE CAPTIONED A.Y. IS NOT ULTIMATELY RESOLVED IN TERMS OF THE AFORE - STATED ACT, THE A PPELLAN T (I.E. THE ASSESSEE) IS AT LIBERTY TO APPROACH THE TRIBUNAL FOR REINSTITUTION OF THE APPEAL AND THE TRIBUNAL SHALL CONSIDER SUCH APPLICATION APPROPRIATE AS PER LAW. THE LD.CIT,DR FOR THE REVENUE HAS NO OBJECTION WITH REGARD TO THE AFORESAID CAVEAT. 6. I N THE RESULT, THE APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN . ORDER PRONOUNCED IN OPEN COURT ON 12 / 1 0/2020. SD/ - SD/ - (A. MOHAN ALANKAMONY) (P . MADHAVI DEVI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 12 TH OCTOBER, 2020 GMV COPY OF ORDER FORWARDED TO: 1. M/S GOKUL GEMS & JEWELS P LTD., D - 6, MAYUR KUSHAL COMPLEX, GUNFOUNDTRY, ABIDA, HYDERABAD 500 001 . 2. A C IT, CENTRAL CIRCLE 1 (1), HYDERABAD. 3. CIT(A) - 11, HYDERABAD 4. PR.CIT, HYDERABAD. 5 D.R. ITAT HYDERABAD 6 . GUARD FILE