DEV DIAMONDS,MUMBAI vs. ITO NFAC, DELHI, MUMBAI
IN THE INCOME TAX APPELLATE TRIBUNAL, ‘D’ BENCH
MUMBAI
BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER
&
SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER
M/s. Dev Diamonds
BC
4022B,
Bharat
Diamonds Bourse
Bandra Kurla Complex
BKC, Bandra East
Mumbai
Maharashtra – 400 051
Vs. ITO NFAC, Delhi
DCIT, Circle 41(1)(1)
PAN/GIR No.AACFD2753R
(Appellant)
..
(Respondent)
Assessee by None (Letter File)
Revenue by Shri. R.R. Makwana
Date of Hearing
29/01/2025
Date of Pronouncement
29/01/2025
आदेश / O R D E R
PER AMIT SHUKLA (J.M):
The aforesaid appeal has been filed by the assessee against order passed by NFAC, Delhi dated 18/11/2024 in relation to penalty proceedings under Section 271(1)(c) of the Income Tax Act, 1961 for the Assessment Year 2010-11. 2. In the aforesaid appeal the ld. Counsel for the assessee has submitted that assessee has opted for settlement of its Dev Diamonds
2
tax dispute under the ‘Vivad Se Vishwas Scheme-2024’ and has also filed application before the authorities. Accordingly, appeal of the assessee is dismissed as withdrawn, however, liberty is given to the assessee in case the application for VSVS does not materialize and is not accepted, assessee may file an application for restoration of the appeal. Accordingly, appeal of the assessee is dismissed in limine.
In the result, appeal of the assessee is dismissed.
Order pronounced on 29th January,2025. (GIRISH AGRAWAL) (AMIT SHUKLA)
ACCOUNTANT MEMBER
JUDICIAL MEMBER
Mumbai; Dated 29/01/2025
KARUNA, sr.ps
Copy of the Order forwarded to :
BY ORDER,
(Asstt.