MADHUR SHIVAM AGROPARK vs. PR. COMMISSIONER OF INCOME TAX-1,

Per Bench This is an Appeal by the Assessee agitating the Order under section 263 of the Income Tax Act, 1961 (‘the Act’ hereinafter) dated 28/03/2017 by the Principal Commissioner of Income Tax-1, Jabalpur (‘Pr.CIT’, for short) in respect of the assessee’s assessment u/s. 143(3), dated 23/07/2014, for the Assessment Year (AY) 2012-13. 2. At the outset, Shri Anil Gupta, the ld. counsel for the assessee, would submit that the assessee seeks permission for withdrawal of the instant appeal in view of it having opted for Vivad se Vishwas Scheme 2020 (VSVS), enclosing along with Form 3 dated 02/01/2021. 3. A perusal of the record shows that the assessment pursuant to the impugned order was made on 30/12/2017, which stands appealed against by the assessee before the first appellate authority on 10/01/2018. It is this appeal 1 Madhur Shivam Agropark v. Pr. CIT which was outstanding for adjudication at the time of the assessee applying under VSVS. The assessee’s appeal against revision order becomes, under the circumstances, infructuous. Though it is not clear if the settlement of the tax dispute under reference under VsV scheme has attained finality, signified by issue of Form 5 by the competent authority under the Direct Tax VSV Act, 2020, it is clear that the assessee has opted not to litigate the matter before the appellate forums under the Act, but seek its resolution under the said Act. We, therefore, have no hesitation in, accepting the assessee’s request, to which no objection was also raised by the ld. CIT-DR during hearing, dismiss its’ appeal as infructuous. By way of abundant caution, we allow liberty to the assessee to, in case for any reason its’ application under Direct Tax VSV Act, 2020 does not reach its logical end, it may move this Tribunal for restoration of it’s instant appeal for a decision on merits. We decide accordingly.

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