THE JCIT(OSD), CIRCLE-1(1)(2), AHMEDABAD vs. DHANLAXMI INFRASTRUCTURE PVT. LTD., SURAT

The above appeal filed by the Revenue arises from order of the Commissioner of Income Tax (Appeals)-1, Ahmedabad dated 30.10.2017 for assessment year 2014-15.

When the matter was called for hearing, the ld.counsel for the assessee pointed out a letter dated 26.2.2021 filed by the assessee wherein it has submitted the assessee has filed an application to avail option under VSV scheme and has filed requisite form no.1 and 2 with the Department, and that the assessee is awaiting resolution from the department. Copy of form no.1 and 2 are also attached with the above letter of the assessee. Therefore, according to the assessee, this appeal of the Revenue deserves to be dismissed in terms of scheme. The ld.DR on the other hand was unable to controvert the contentions of the assessee in the absence of communication to him from the AO.

In the light of the above submission made by assessee, we find no reason to keep the appeal of the Revenue pending before the Tribunal in view of the assessee’s statement in writing that it wants to settle the issue through dispute resolution mechanism provided under the Direct Tax Vivad Se Vishwas Act, 2020. Thus, if the assessee wants to settle the issue in terms of VSV Act, we treat appeal of the Revenue as dismissed. However, in the event, the assessee fails to avail the benefit of VSV Scheme for any reasons, then the Revenue will be at liberty to seek restoration of original appeal for adjudication before ITAT in accordance with law.

In the result, the appeal of the Revenue is dismissed under VSV scheme. Order pronounced in the Court on 3rd March, 2021 at Ahmedabad.