Prakash Chand Kantilal Jain, Hyderabad v. Dy. Commissioner of Income Tax ,CentralCircle-1(2), Hyderabad

ITA 172/Hyd/2018 | 2014-2015
Pronouncement Date: 23-03-2021 | Result: Partly Allowed

Appeal Details

RSA Number 17222514 RSA 2018
Assessee PAN ABSPJ4565A
Bench Hyderabad
Appeal Number ITA 172/Hyd/2018
Duration Of Justice 3 year(s) 1 month(s) 28 day(s)
Appellant Prakash Chand Kantilal Jain, Hyderabad
Respondent Dy. Commissioner of Income Tax ,CentralCircle-1(2), Hyderabad
Appeal Type Income Tax Appeal
Pronouncement Date 23-03-2021
Appeal Filed By Assessee
Order Result Partly Allowed
Bench Allotted DB-A
Tribunal Order Date 23-03-2021
Last Hearing Date 18-03-2021
First Hearing Date 18-03-2021
Assessment Year 2014-2015
Appeal Filed On 25-01-2018
Judgment Text
1 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A HYDERABAD (THROUGH VIRTUAL HEARING) BEFORE SMT. P. MADHAVI DEVI JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY ACCOUNTANT MEMBER ITA NO. 172/HYD/2018 A.Y. 2014 - 15 PRAKASH CHAND KANTILAL JAIN HYDERABAD. PAN: ABSPJ 4565 A VS. DCIT CENTRAL CIRCLE - 1(2) HYDERABAD. (APPELLANT) (RESPONDENT) ASSESSEE BY: SHRI K.C. DEVDAS REVENUE BY: SHRI SUNIL KUMAR PANDEY DR ITA NO. 287/HYD/2018 A.Y. 2014 - 15 DCIT CENTRAL CIRCLE - 16(2) HYDERABAD. VS. PRAKASH CHAND KANTILAL JAIN HYDERABAD. PAN: ABSPJ 4565 A (APPELLANT) (RESPONDENT) ASSESSEE BY: SHRI K.C. DEVDAS REVENUE BY: SHRI SUNIL KUMAR PANDEY DR DATE OF HEARING: 18/03/2021 DATE OF PRONOUNCEMENT: 23 /03/2021 ORDER PER A. MOHAN ALANKAMONY A.M: 2 THE CAPTIONED APPEAL ITA NO.172/HYD/2018 IS FILED BY THE ASSESSEE AND THE ITA NO.287/HYD/2018 IS FILED BY THE REVENUE AGAINST THE ORDER OF THE LD. CIT(A) - 4 HYDERABAD IN APPEAL NO. 0061/2017 - 18/DCIT CC - 1(2)/CIT(A)/HYD/17 - 18 DATED 20/11/2017 PASSED U/S.271AAB R.W.S 250(6) FOR THE A.Y. 2014 - 15 . 2. AT THE OUTSET LD. AR SUBMITTED BEFORE US THAT THE ASSESSEE HAS AVAILED VIVAD SE VISWAS SCHEME AND HAS FILED FORM NO.1 & 2 AND ALSO REC EIVED FROM NO.3 IN REGARD TO HIS APPEAL AS WELL AS THE REVENUES APPEAL. IT WAS THEREFORE PLEADED THAT THE INSTANT APPEAL OF THE ASSESSEE MAY BE ALLOWED TO BE WITHDRAWN AND THE REVENUES APPEAL MAY BE DISMISSED. 3. THE LD. DR SUBMITTED BEFORE US THAT THE DEPARTMENT HAS NO OBJECTION IF THE ASSESSEE DESIRES TO WITHDRAW HIS APPEAL AS HE DESIRES TO OPT VIVAD - SE - VISHWAS SCHEME. THE LD.DR FURTHER SUBMITTED THAT IF THE APPEAL OF THE REVENUE IS TO BE DISMISSED THEN LIBERTY MAY BE GRANTED TO REINSTATE THE APPEAL OF THE REVENUE IF THE APPLICATION FILED BY THE ASSESSEE FOR AVAILING THE BENEFIT UNDER VIVAD - SE - VISHWAS SCHEME IS REJECTED BY THE REVENUE SUBSEQUENTLY. 4. HAVING REGARD TO THE FACTS AND CIRCUMSTANCES OF THE CASE WE ARE INCLINED TO DISMISS THE APPEAL OF TH E ASSESSEE AS WELL AS THE APPEAL OF THE REVENUE SINCE THE ASSESSEE HAS PREFERRED TO AVAIL THE VIVAD - SE - 3 VISHWAS SCHEME FOR THE A.Y. 2011 - 12 BY FILING FORM NO.1 & 2 AND HAS ALSO RECEIVED FORM NO.3 FROM THE REVENUE. HOWEVER WE ALSO MAKE IT CLEAR THAT IF TH E ASSESSEES CASE IS NOT ACCEPTED IN THE VIVAD - SE - VISHWAS SCHEME BY THE REVENUE FOR WHATSOEVER MAY BE REASON ON A SUBSEQUENT DATE THEN THE ASSESSEE AND THE REVENUE AS REQUESTED BY THE LD.AR AND THE LD. DR SHALL BE AT LIBERTY TO FILE MISCELLANEOUS PETITI ON/S BEFORE THE TRIBUNAL WITHIN THE TIME LIMIT PRESCRIBED UNDER THE ACT TO REINSTATE THEIR RESPECTIVE APPEAL. IT IS ORDERED ACCORDINGLY. 5. IN THE RESULT APPEAL OF THE ASSESSEE AS WELL AS THE APPEAL OF THE REVENUE ARE DISMISSED. PRONOUNCED IN THE OPEN COURT ON 23 RD MARCH 2021. SD/ - SD/ - ( SMT. P. MADHAVI DEVI ) ( A. MOHAN ALANKAMONY ) JUDICIAL MEMBER ACCOUNTANT MEMBER HYDERABAD DATED: 23 RD MARCH 2021. OKK COPY TO: - 1) (I) PRAKASH CHAND KANTILAL JAIN C/O. K.C. DEVDAS CHARTERED ACCOUNTANT M/S. SEKHAR & CO. CHARTERED ACCOUNTANTS 133/4 BIBLE HOUSE R.P. ROAD SECUNDERBAD 500003. (II) PRAKASH CHAND JAIN PLOT NO.441 ROAD NO.19/20 JUBILEE HILLS HYDERABAD - 500 003. 2) THE DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE - 1(2) HYDERABAD. (II) DY. COMMISSIONER OF INCOME TAX CIRCLE - 16(2) 2 ND FLOOR B - BLOCK IT TOWERS AC GUARDS MASAB TANK HYDERABAD. 4 3) THE CIT (A) - 4 HYDERABAD. 4) THE PR. CIT - 4 HYDERABAD. 5) THE DR ITAT HYDERABAD 6) GUARD FILE