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

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ITA 783/AHD/2023Status: DisposedITAT Ahmedabad21 January 2025AY 2012-133 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal considered the assessee's request for withdrawal of the appeal, citing the filing of a declaration under the Vivad se Vishwas scheme, 2024. The assessee's authorized representative formally submitted a letter seeking permission to withdraw the appeal. The Revenue's representative indicated no objection to this request. Consequently, the Tribunal dismissed the assessee's appeal as withdrawn. The specific grounds of appeal, including the estimation of profit on sale to M/s. Harsh Enterprise, were not adjudicated on merits. The operative direction was to dismiss the appeal. No issue was expressly left undecided, as the appeal was disposed of on a procedural basis.

What were the facts?

The assessee, Leela Ship Recycling Pvt. Ltd., filed an appeal before the Income Tax Appellate Tribunal (ITAT), Ahmedabad, challenging an order dated 19/09/2023 passed by the Commissioner of Income Tax (Appeals)-II, Ahmedabad. This order arose from an assessment order dated 23/12/2019 passed by the Assessing Officer (AO) under Section 143(3) read with Section 147 of the Income Tax Act, 1961, for the Assessment Year 2012-13. The primary ground of appeal concerned the estimation of profit on a sale to M/s. Harsh Enterprise, which the AO treated as an accommodation entry and grossed up at 5%, amounting to Rs. 34,13,545/-. During the hearing, the assessee sought to withdraw the appeal, having filed a declaration under the Vivad se Vishwas scheme, 2024. The Revenue did not object to the withdrawal.

What were the issues?

1. Whether the ITAT has the jurisdiction to entertain the appeal filed by the assessee when the assessee has sought withdrawal of the appeal due to filing a declaration under the Vivad se Vishwas scheme, 2024. Assessee's contention: The assessee, through its authorized representative, submitted a letter seeking permission to withdraw the appeal as it has opted for the Vivad se Vishwas scheme, 2024, implying that the dispute is settled under that scheme. Revenue's contention: The Revenue, represented by the Senior Departmental Representative, stated that it has no objection to the withdrawal of the appeal.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, AHMEDABAD

BEFORE SMT.ANNAPURNA GUPTA, ACCOUNTANT MEMBER AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER Assessment Year: 2012-13

Leela Ship Recycling Pvt.Ltd. The DCIT

3rd Wing, Leela Efcee Vs | Circle-1

Near Akshar Wadi Bhavnagar - 364 002 Bhavnagar - 364 002 (Gujarata) PAN: AAACL 8753 G

order (Appellant) weaett, (Respondent)

Assessee by : Shri Parimalsinh B. Parmar, AR (Withdrawal Application) Revenue by : Ms. Neeju Gupta, Sr.DR

Wag H ante Date of Hearing : 21/01/2025 uso ot ake /Date of Pronouncement: 21/01/2025

3e21/0 RDER

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: AY 2012-13

“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. (SUCHITRA KAMBLE) (ANNAPURNA GUPTA) JUDICIAL MEMBER ACCOUNTANT MEMBER

Ahmedabad, Dated 21/01/2025

FG. AR, FA ./ 7. 0. NAIR, Sr. PS Leela Ship Recycling Pvt.Ltd. vs. DCIT AY 2012-13

ane wl wfaferft aif / Copy of the Order forwarded to :

Ss 7 PF OP PP

anftarif / The Appellant were / The Respondent.

‘Safes STAHL HTYET / Concerned CIT

TTB SYA (3th) / The CIT(A)-11, Ahmedabad feurtta viata, sre articta after , UaHe/DR,ITAT, Ahmedabad,

mS BA /Guard file.

STGRIRR/ BY ORDER, //Teue Copy//aentta oft //

AeA UHR (Asstt. Registrar) oraer ontetta afer, ITAT, Ahmedabad

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