LEELA SHIP RECYCLING PVT. LTD.,BHAVNAGAR V. THE DY.CIT, CIRCLE-1, BHAVNAGAR

ITA 783/AHD/2023

AI Insights

Leela Ship Recycling Pvt. Ltd. appealed against an order from the Commissioner of Income Tax (Appeals)-11, Ahmedabad, concerning the Assessment Year 2012-13. The appeal was based on the estimation of profit on a sale to M/s. Harsh Enterprise, which was treated as an accommodation entry and grossed up by 5%, amounting to Rs.34,13,545. During the hearing, the appellant decided to withdraw the appeal after filing a declaration under the 'Vivad se Vishwas' scheme, which was accepted by the Revenue's representative, leading to the dismissal of the appeal.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 472252 (ITAT-AHMEDABAD)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-01-2025
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2012-2013
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: NEEJU GUPTA
• Assessee Lawyers: PARIMALSINH B. PARMAR
• Section: 143(3)

Judgement Text

" आयकर अपीलीय अिधकरण, अहमदाबाद \u0011ायपीठ, “डी“ अहमदाबाद । IN THE INCOME TAX APPELLATE TRIBUNAL “ D” BENCH, AHMEDABAD ] ] BEFORE SMT.ANNAPURNA GUPTA, ACCOUNTANT MEMBER AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER ITA No.783/Ahd/2023 Assessment Year : 2012-13 Leela Ship Recycling Pvt.Ltd. 3rd Wing, Leela Efcee Near Akshar Wadi Bhavnagar – 364 002 (Gujarata) Vs The DCIT Circle-1 Bhavnagar – 364 002 PAN: AAACL 8753 G अपीलाथ\u0016/ (Appellant) \u0017\u0018 यथ\u0016/ (Respondent) Assessee by : Shri Parimalsinh B. Parmar, AR (Withdrawal Application) Revenue by : Ms. Neeju Gupta, Sr.DR सुनवाई की तारीख/Date of Hearing : 21/01/2025 घोषणा की तारीख /Date of Pronouncement: 21/01/2025 आदेश/O R D E R PER ANNAPURNA GUPTA, ACCOUNTANT MEMBER This appeal filed by the Assessee is directed against the order dated 19/09/2023 passed by the Ld.Commissioner of Income Tax (Appeals)-11, Ahmedabad [hereinafter referred to as “CIT(A)”], for the Assessment Year (AY) 2012-13, arising from the assessment order 23/12/2019 passed by the Assessing Officer (hereinafter referred to as “AO”) u/s. 143(3) r.w.s.147 of the Income Tax Act, 1961 (hereinafter referred to as “the Act”). 2. Ground of appeal is as under: ITA No.783/Ahd/2023 Leela Ship Recycling Pvt.Ltd. vs. DCIT AY 2012-13 2 “1. Estimation of profit on sale to M/s.Harsh Enterprise, by treating the same as accommodation entry and grossing up @ 5% amounting to Rs.34,13,545/-.” 2. During the course of hearing before us, the Ld.AR for the assessee Shri Parimalsinh B. Parmar on behalf of assessee submitted a letter (signed for Leela Ship Recycling P.Ltd.), wherein the assessee sought for permission to withdraw the appeal since the assessee has filed declaration under Vivad se Vishwas, 2024. 3. The Ld.Sr.DR, Ms. Neeju Gupta appeared for the Revenue, has no objection for withdrawing this appeal. 4. Accordingly, assessee’s appeal is dismissed as withdrawn. Order pronounced in the Court on 21st January, 2025 at Ahmedabad. Sd/- Sd/- (SUCHITRA KAMBLE) JUDICIAL MEMBER (ANNAPURNA GUPTA) ACCOUNTANT MEMBER Ahmedabad, Dated 21/01/2025 टी.सी.नायर, व.िन.स./T.C. NAIR, Sr. PS ITA No.783/Ahd/2023 Leela Ship Recycling Pvt.Ltd. vs. DCIT AY 2012-13 3 आदेश की \u0018ितिलिप अ\u001cेिषत/Copy of the Order forwarded to : 1. अपीलाथ\u001e / The Appellant 2. \u0018\u001fथ\u001e / The Respondent. 3. संबंिधत आयकर आयु# / Concerned CIT 4. आयकर आयु# ) अपील ( / The CIT(A)-11, Ahmedabad 5. िवभागीय \u0018ितिनिध , आयकर अपीलीय अिधकरण , राजोकट/DR,ITAT, Ahmedabad, 6. गाड( फाईल / Guard file. आदेशानुसार/ BY ORDER, स//True Copy//स\u001fािपत \u0018ित // Copy// सहायक पंजीकार (Asstt. Registrar) आयकर अपीलीय अिधकरण, ITAT, Ahmedabad 1. Date of verbal dictation : 21.1.2025 2. Date on which the typed draft is placed before the Dictating Member. : 21.1.2025 3. Date on which the approved draft comes to the Sr.P.S./P.S : 4. Date on which the fair order is placed before the Dictating Member for pronouncement. : 5. Date on which fair order placed before Other Member : 6. Date on which the fair order comes back to the Sr.P.S./P.S. : 21.1.25 7. Date on which the file goes to the Bench Clerk. : 21.1.25 8. Date on which the file goes to the Head Clerk. : 9. The date on which the file goes to the Assistant Registrar for signature on the order. : 10. Date of Despatch of the Order : "