Swati Chlorides Pvt Ltd., Vadodara V. DCIT, Circle-2(1)(1), Vadodara

ITA 903/AHD/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 2182 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 7 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-12-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 23-12-2019
• Assessment Year: 2014-2015
• Appeal Filed On: 11-04-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SHAURYA S SHUKLA

Judgement Text

, SMC IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, AHMEDABAD (CONDUCTED THROUGH VIRTUAL COURT) BEFORE SHRI RAJPAL YADAV, VICE-PRESIDENT AND SHRI AMARJIT SINH, ACCOUNTANT MEMBER ITA NO.903/AHD/2018 / ASSTT.YEAR : 2014-15 SWATI CHLORIDES P.LTD. 99/1-B, GIDC, NANDESARI VADODRA 391 340 PAN : AAMCS 8912 Q VS. DCIT, CIR.2(1)(1) BARODA. ( APPLICANT ) ( RESPONENT ) ASSESSEE BY : SHRI MUKUND BAKSHI, AR REVENUE BY : SHRI SHAURYA S. SHUKLA, DR / DATE OF HEARING : 01/12/2020 / DATE OF PRONOUNCEMENT: 01/12/2020 !'/ O R D E R PER RAJPAL YADAV, VICE-PRESIDENT: THE ABOVE APPEAL FILED BY THE ASSESSEE ARISES FROM ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-2, VADODARA DA TED 18.1.2018 FOR ASSESSMENT YEAR 2014-15. 2. WHEN THE MATTER WAS CALLED FOR HEARING, IT IS PO INTED OUT TO THE BENCH THAT THE ASSESSEE HAS FILED DECLARATION AND U NDERTAKING IN FORM NO.1 AS PER PROVISIONS OF THE DIRECT TAX VIVAD SE V ISHWAS ACT, 2020 FOR AVAILMENT OF THE BENEFIT UNDER THE SCHEME. IN V IEW OF THIS, THE LD.COUNSEL FOR THE ASSESSEE SUBMITTED THAT ASSESSEE DOES NOT WANT TO PURSUE THE SAID APPEAL OWING TO EXERCISE OF OPTION FOR AVAILING VSV SCHEME AND IT HAS COMPLIED WITH THE REQUISITE FORMA LITIES, AND SOUGHT ITA NO.903/AHD/2018 2 PERMISSION FOR WITHDRAWAL OF APPEAL BEFORE THE TRIB UNAL. THE LD.COUNSEL HAS PLACED ON RECORD COPY OF FORM NO.1 A ND 2 3. THE LD. DEPARTMENTAL REPRESENTATIVE FOR THE REVE NUE STATED THAT HE HAS NO OBJECTION FOR WITHDRAWAL OF THE APPEAL BY THE ASSESSEE IN VIEW OF THE SUBMISSIONS OF THE LD.COUNSEL FOR THE A SSESSEE. 4. IN THE LIGHT OF THE ABOVE SUBMISSION MADE ON BEH ALF OF THE ASSESSEE BY ASSESSEES REPRESENTATIVE, APPEAL OF TH E ASSESSEE STANDS DISMISSED AS WITHDRAWN. HOWEVER, IN THE EVENT, THE ASSESSEE FAILS TO AVAIL THE BENEFIT OF VSV SCHEME FOR ANY BONAFIDE REASONS, THEN THE ASSESSEE WILL BE AT LIBERTY TO SEEK RESTORATION OF ORIGINAL APPEAL FOR ADJUDICATION BEFORE ITAT IN ACCORDANCE WITH LAW. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DIS MISSED AS BEING WITHDRAWN UNDER VSV SCHEME. ORDER PRONOUNCED IN THE COURT ON 1 ST DECEMBER, 2020 AT AHMEDABAD. S D / - (AMARJIT SINGH) ACCOUNTANT MEMBER S D / - (RAJPAL YADAV) VICE-PRESIDENT