M/s BNB Trading Company, Davangere V. ACIT, Davangere

ITSSA 14/BANG/2010

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 4658 (ITAT-BANGALORE)
• Duration Of Justice: 10 year(s) 5 month(s) 28 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 20-10-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: misc
• Appeal Filed On: 22-04-2010
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: DILIP JUNIOR DEPT
• Assessee Lawyers: V SRINIVASAN
• Keywords: Block assessment

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES A, BANGALORE BEFORE SHRI GEORGE GEORGE K, JM & SHRI B.R.BASKARAN, AM IT(SS)A NO.110/BANG/2002 & IT(SS)A NO.14/BANG/2010 BLOCK PERIOD 01.04.1987 TO 28.08.1997 M/S. B N B TRADING COMPANY C/O.S.VENKATESAN & CO., CAS 32, II FLOOR, SNS PLAZA KUMARAKRUPA ROAD BANGALORE 560 001. PAN : AADFB0359A. V. THE ASST.COMMISSIONER OF INCOME-TAX, INV.CIR.1(1) HUBLI / DEVENGERE. (APPELLANT) (RESPONDENT) APPELLANT BY : SRI.V.SRINIVASAN, ADVOCATE RESPONDENT BY : SRI.DILIP, JUNIOR STANDING COUNSEL FOR DEPT. DATE OF HEARING : 20.10.2020 DATE OF PRONOUNCEMENT : .10.2020 O R D E R PER GEORGE GEORGE K, JM : THESE APPEALS AT THE INSTANCE OF THE ASSESSEE ARE DIRECTED AGAINST TWO DIFFERENT ORDERS OF THE CIT(A). THE RELEVANT BLOCK ASSESSMENT PERIOD IS 01.04.1987 TO 28.08.1997. 2. THE ASSESSEE HAS FURNISHED A LETTER DATED 16 TH OCTOBER, 2020, WHEREIN IT IS STATED THAT THE ASSESSEE HAS FILED APPLICATION UNDER DIRECT TAX VIVAD SE VISHWAS ACT FOR SETTLEMENT OF THE DISPUTE AND FORM NO.3 IS AWAITED. ACCORDINGLY, THE ASSESSEE HAS PRAYED THAT THE APPEALS MAY BE ADJOURNED. 3. THE LEARNED DEPARTMENTAL REPRESENTATIVE, HOWEVER, SUBMITTED THAT THE ASSESSEE HAS TO WITHDRAW THE PENDING IT(SS)A NO.110/BANG/2002 & 14/BANG/2010 M/S.B N B TRADING CO.. 2 APPEALS AFTER FILING FORM VSV1 AS PER VIVAD SE VISHWAS ACT, 2020. THEREAFTER, THE ASSESSEE IS REQUIRED TO FURNISH A COPY OF THE SAME ALONG WITH THE PROOF OF PAYMENT OF TAX AS DETERMINED BY THE TAX OFFICIAL TO THE TO THE DEPARTMENT. HE SUBMITTED THAT FORM NO.3 SHALL BE ISSUED TO THE ASSESSEE IN DUE COURSE AND ACCORDINGLY HE SUBMITTED THAT THE APPEALS OF THE ASSESSEE MAY BE DISMISSED AS WITHDRAWN, AS THE ASSESSEE IN ANY IS REQUIRED TO WITHDRAW THE APPEALS. THE LEARNED DR FURTHER SUBMITTED THAT IN THESE TYPES OF CASES, THE TRIBUNAL IS GIVING LIBERTY TO SEEK RECALL OF THE ORDER, IF THE APPEAL IS DISMISSED BY THE BENCH. 4. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL ON RECORD. THE SUBMISSIONS MADE BY THE LEARNED DR IS CONSIDERED. SINCE THE ASSESSEE HAS ALREADY FILED APPLICATIONS UNDER DIRECT TAX VIVAD SE VISHWAS ACT, 2020, THE ASSESSEE WOULD BE MOVING APPLICATION FOR WITHDRAWING THE PRESENT APPEALS FILED BEFORE THE TRIBUNAL IN DUE COURSE. SINCE THE ASSESSEE HAS ALREADY FILED THE NECESSARY APPLICATIONS BEFORE THE TAX AUTHORITIES UNDER THE ABOVE SAID ACT, WE ARE OF THE VIEW THAT NO PURPOSE WILL BE SERVED IN KEEPING THESE APPEALS PENDING. ACCORDINGLY, WE DISMISS THE APPEALS OF THE ASSESSEE AS WITHDRAWN. 5. THE LEARNED AR HAS STATED THAT HE HAS NOT RECEIVED FROM NO.3, IN WHICH THE TAX AMOUNT TO BE PAID BY THE ASSESSEE SHALL BE INTIMATED BY THE DEPARTMENT AND THE PROCESS WILL BE COMPLETED UPON RECEIPT OF FORM NO.3, MEANING THEREBY, THE ASSESSEE WANTS TO MAKE SURE THAT THE TAX LIABILITY MENTIONED BY HIM IN FORM NO.1 SHOULD GET CONFIRMED BY THE REVENUE. IT(SS)A NO.110/BANG/2002 & 14/BANG/2010 M/S.B N B TRADING CO.. 3 UNDER THESE SET OF FACTS, SINCE WE HAVE DISMISSED THE APPEALS, THE ASSESSEE IS GIVEN LIBERTY TO MOVE APPROPRIATE APPLICATION FOR RECALL OF THE PRESENT ORDER IN ACCORDANCE WITH THE LAW, IF THE ASSESSEE INTENDS TO DO SO. 6. IN THE RESULT, THE APPEALS FILED BY THE ASSESSEE ARE DISMISSED, AS WITHDRAWN. ORDER PRONOUNCED ON THIS DAY OF 20 TH OCTOBER, 2020 . SD/- SD/- (B.R.BASKARAN) ( GEORGE GEORGE K ) ACCOUNTANT MEMBER JUDICIAL MEMBER BANGALORE; DATED : 20 TH OCTOBER, 2020. DEVADAS G* COPY TO : 1. THE APPELLANT. 2. THE RESPONDENT. 3. THE CIT(A) DAVANGERE / HUBLI. 4. THE CIT DEVANGERE / HUBLI. 5. THE DR, ITAT, BENGALURU. 6. GUARD FILE. ASST.REGISTRAR/ITAT, BANGALORE