Income Tax Appellate Tribunal - Bangalore
M/S. Gokaldas Exports Limited, ... vs Deputy Commissioner Of Income Tax, ... on 25 February, 2021
ITA No.145/Bang/2020 &
CO No.7/Bang/2020
Gokaldas Exports Ltd., Bangalore
IN THE INCOME TAX APPELLATE TRIBUNAL
"B'' BENCH: BANGALORE
BEFORE SHRI B. R. BASKARAN, ACCOUNTANT MEMBER
AND
SMT. BEENA PILLAI, JUDICIAL MEMBER
ITA No.145/Bang/2020
Assessment Year: 2012 - 13
Deputy Commissioner of M/s. Gokaldas Exports Ltd.
Income-tax No.16/2, "Prestige Dot Com"
Circle-3(1)(2), Residency Road,
Vs.
Bangalore Bangalore-560025
PAN No.AACCG0895N
APPELLANT RESPONDENT
C.O. No.7/Bang/2020
(Arising out of ITA No.145/Bang/2020)
Assessment Year: 2012 - 13
M/s. Gokaldas Exports Ltd. Deputy Commissioner of
No.16/2, "Prestige Dot Com" Income-tax
Vs.
Residency Road, Circle-3(1)(2),
Bangalore-560025 Bangalore
APPELLANT RESPONDENT
Revenue by : Shri Biswaran Sasmal, D.R.
Assessee by : Shri S.V. Ravishankar, A.R.
Date of Hearing : 25.02.2021
Date of Pronouncement : 25.02.2021
ITA No.145/Bang/2020 &
CO No.7/Bang/2020
Gokaldas Exports Ltd., Bangalore
Page 2 of 4
ORDER
PER B.R. BASKARAN, ACCOUNTANT MEMBER:
The revenue has filed the appeal and the assessee has filed cross objection for assessment year 2012-13 against the order dated 29-11-2019 passed by Ld CIT(A)-3, Bengaluru.
2. The Ld A.R of the assessee submitted that the assessee has opted to settle the issues contested by the revenue for the above said year under Direct Taxes Vivad Se Vishwas Act, 2020 and accordingly has filed Form 1 and 2. The Ld A.R submitted that the assessee is yet to receive Form no.3. The Ld A.R also submitted that the Bangalore bench of Tribunal is dismissing the appeals in such kind of cases giving liberty to seek recall of the order. He further submitted that the assessee is not pressing the Cross objection filed by it.
3. The Ld D.R, submitted that the appeal has been filed by the revenue and hence, if the appeal of the revenue is dismissed and if something goes wrong with the application filed by the assessee for settlement of disputes, then the revenue should be given liberty to file application seeking recall of the order. The Ld D.R further submitted that the assessee should be directed to intimate the AO about the results of the application filed by it and if they do not go through as desired by the assessee, then the assessee should persuade the AO to file necessary applications seeking recall of this order within the statutory time limit prescribed under the Act.
4. We heard the parties and perused the record. Since the assessee has already filed application under VSVS Act for the year under ITA No.145/Bang/2020 & CO No.7/Bang/2020 Gokaldas Exports Ltd., Bangalore Page 3 of 4 consideration, we are of the view that no purpose would be served in keeping the appeal of revenue pending, since the same has to be withdrawn by the revenue once the dispute is settled under the above said Act. Accordingly, we dismiss the appeal of the revenue.
5. However, we find merit in the submissions made by Ld D.R. Since the appeal filed by the revenue is dismissed by us at the instance of the assessee, we direct the assessee to persuade the AO to file necessary applications for recall of this order in accordance with law within the statutory time period, if something goes wrong in respect of applications filed by the assessee under VSVS Act.
6. Since the cross objection filed by the assessee is not pressed, the same is dismissed as not pressed.
7. In the result, the appeal of the revenue and the cross objection of the assessee are dismissed.
Order pronounced in the open court on 25th Feb, 2021 Sd/- Sd/-
(Beena Pillai) (B.R. Baskaran)
Judicial Member Accountant Member
Bangalore,
Dated 25th Feb, 2021.
VG/SPS
ITA No.145/Bang/2020 &
CO No.7/Bang/2020
Gokaldas Exports Ltd., Bangalore
Page 4 of 4
Copy to:
1. The Applicant
2. The Respondent
3. The CIT
4. The CIT(A)
5. The DR, ITAT, Bangalore.
6. Guard file
By order
Asst. Registrar,
ITAT, Bangalore.