JSW SEEL LTD, MUMBAI V. DCIT CEN CIR 46, MUMBAI

ITA 874/MUM/2015

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 6186 (ITAT-MUMBAI)
• Duration Of Justice: 5 year(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-02-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 2005-2006
• Appeal Filed On: 09-02-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Bad and doubtful debts
• Section: 143(3); 153

Judgement Text

ITA NO. 874 /MUM/ 2015 ASSESSMENT Y EAR: 2005 - 06 PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI F BENCH, MUMBAI [CORAM : PRAMOD KUMAR (VICE PRESIDENT) A ND MADHUMITA ROY (JUDICIAL MEMBER) ] ITA NO. 874 /MUM/ 2015 ASSESSMENT YEAR: 2005 - 06 M/S. JSW STEEL LTD. .APPELLANT JSW CENTRE, BANDRA KURLA COMPLEX, MUMBA 400 051 [PAN: AAACJ 4323 N ] VS DCIT, CENTRAL CIRCLE 8(3) ..........RESPONDENT 6 TH FLOOR, AAYAKAR BHAVAN, M. K. ROAD, MUMBAI 400 020 APPEARANCES BY GAURAV KABRA FOR T HE AP P ELLANT JAINTA ZIMIK VASHAI FOR THE RESPONDENT DATE OF CONCLUDING THE HEARING : JANUARY 09, 2020 DATE OF PRONOUNC EMENT : FEBRUARY 11 , 2020 ORDER PER PRAMOD KUMAR, VP : 1. BY WAY OF THIS APPEAL, THE ASSESSEE - APPELLANT HAS CHALLENGED THE CORRECTNESS OF THE ORDER DATED 01.12.2014, PASSED BY THE CIT(A) - 47 , MUMBAI, IN THE MATTER OF ASSESSMENT UNDER SECTION 143(3) R.W.S. 153 A OF THE INCOME TAX ACT, 1961, FOR THE ASSESSMENT YEAR 2005 - 06 . 2. GRIEVANCES RAISED BY THE ASSESSEE READS AS UNDER: 1. ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, THE CIT(A) ERRED IN CONFIRMING THE ACTION OF THE DCIT IN NOT ALLOWING THE REDUCTION OF THE REVERSAL OF THE PROVISION FOR DOUBTFUL DEBTS FROM THE BOOK PROFITS FOR THE PURPOSE OF MAT COMPU TATION. ITA NO. 874 /MUM/ 2015 ASSESSMENT Y EAR: 2005 - 06 PAGE 2 OF 3 3. THE APPEAL WAS CALLED FOR THE HEARING. AT THE OUTSET IN THIS CASE LEARNED COUNSEL OF THE ASSESSEE SUBMITTED THAT HE SHALL BE WITHDRAWING THE APPEAL. 4. THE LD. DR DOES NOT OPPOSE TO THE PRAYERS SO MADE BY THE ASSESSEE. 5. IN VIEW OF THE ABOVE POSITION, WE DEEM IT FIT AND PROPER TO PERMIT TO WITHDRAW THE AFORESAID APPEAL. 6. ACCORDINGLY, THIS APPEAL IS DISMISSED AS WITHDRAWN. PRONOUNCED IN THE OPEN COURT TODAY ON THE 11 TH DAY OF FEBRUARY , 2020 SD/ - SD/ - MADHUMITA ROY PRAMOD KUMAR (JUDICIAL MEMBER) (VICE PRESIDENT) MUMBAI , D ATED THE 11 TH D AY OF JANUARY, 2020 COPIES TO : (1) THE APPLICANT (2) THE RESPONDEN T (3) CIT (4) CIT(A) (5) DR (6) GUARD FILE BY ORDER TRUE COPY ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES, MUMBAI