M/S. EUROFINS ADVINUS LIMITED (FORMERLY ADVINUS THERAPEUTICS LIMITED),BANGALORE vs. INCOME TAX OFFICER, WARD- 2(1)(4), BANGALORE

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ITA 181/BANG/2020Status: DisposedITAT Bangalore08 June 2020AY 2011-125 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal noted that the assessee had opted for the Vivad Se Vishwas Scheme and would withdraw the appeals in due course. Since the necessary applications were filed, keeping the appeals pending would serve no purpose. Therefore, the appeals were dismissed as withdrawn.

What were the facts?

The assessee filed appeals challenging additions made by the AO. The assessee also opted for the Vivad Se Vishwas Scheme, 2020, and filed declarations under the scheme. The assessee requested an adjournment of the appeals pending the completion of proceedings under the scheme.

What were the issues?

Whether the appeals should be adjourned or dismissed as withdrawn in light of the assessee opting for the Vivad Se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Section 40(a)(ia)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, BANGALORE BENCH ‘C’

Before: SHRI N.V.VASUDEVAN & SHRI B.R.BASKARAN

For Appellant: Shri H.N.Khincha, CA
For Respondent: Shri Pradeep Kumar, CIT

O R D E R PER BENCH:- The assessee has filed these appeals challenging the orders passed by Ld CIT(A)-2, Bengaluru and they relate to the assessment years 2011- 12 to 2014-15. The assessee is aggrieved by the decision of Ld CIT(A) in partially confirming the additions made by the AO in the above said years. The additions challenged before the Tribunal are: (a) Additions made u/s 40(a)(ia) of the Act for non-deduction of tax at source from various payments in AY 2011-12 to 2014-15; 2 -184(B)/2020 (b) Disallowance of amortization of debenture redemption premium in all the four years; (c) Disallowance of loss arising from settlement of derivative contract in AY 2011-12.

2.

The assessee has furnished a letter dated NIL and in that letter, inter alia, it is stated as under:- “2. We have filed the declaration in Form 1 and undertaking in Form 2 as per section 4(5) of The Direct Tax Vivad Se Vishwas Act, 2020 in respect to above appeals on 29.4.2020 3. Vide letter dated 9.5.2020, emailed on the same day to Bangalore.bench@itat.nic.in, we have submitted the aforesaid forms and have requested that the hearing of appeals be kindly kept in abeyance until completion of proceedings under the above Act.

4.

The Pr. CIT is yet to accept our findings under the Vivad se Vishwas Act, 2020 and we are yet to receive the certificate in Form 3 from the said Authority for the above years.

5.

Under these circumstances, we once again request your honour to kindly adjourn the hearing of the above appals.

6.

Alternatively and without prejudice, if the Hon’ble Bench decides to dismiss the appeals, liberty may be granted to file necessary petition/application for reinstatement of appeals in the event of rejection of our filing under the Vivad se Vishwas Act, 2020 by the Pr. CIT.....” Accordingly the assessee has prayed for adjournment of these appeals.

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