GVK AIRPORT DEVELOPERS LIMITED (FORMERLY KNOWN AS GVK AIRPORT DEVELOPERS PRIVATE LIMITED), HYDERABAD,SECUNDERABAD vs. ITO, WARD-2(2), HYDERABAD, HYDERABAD

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ITA 488/HYD/2017Status: DisposedITAT Hyderabad05 May 2021AY 2012-132 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The Tribunal dismissed the appeal as withdrawn, noting that the assessee had opted for the Vivad Se Viswas Scheme. It also clarified that the assessee could seek revival of the appeal if the settlement benefit was denied.

What were the facts?

The assessee filed an appeal before the ITAT for AY 2012-13. During the pendency of the appeal, the assessee opted for the Direct Tax Vivad Se Viswas Scheme-2020.

What were the issues?

The primary issue was the pendency of the appeal before the ITAT when the assessee chose to settle the dispute under the Vivad Se Viswas Scheme.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, HYDERABAD ‘A’ BENCH : Hyderabad

Before: Smt. P. MADHAVI DEVI & Shri L.P. SAHU

Hearing: 03/05/2021Pronounced: 05/05/2021

O R D E R PER L.P. SAHU, A.M.

This assessee’s appeal for AY 2012-13 arises against the CIT(A)-2, Hyderabad’s order dated 29.12.2016 in case no. 88/2015-16 involving proceedings u/s 143(3) of the Income Tax Act, 1961 (in short ‘the Act’). Heard both the parties. Case file perused. 2. At the outset, we are informed during the course of hearing from the assessee’s side that the assessee has filed for settlement benefit under the ‘Direct Tax Vivad Se Viswas Scheme-2020’ by way of Form No.1 & 2, and GVK Airport Developers Limited, Hyd. AY 2012-13 Form-3 also stands issued from Pr.CIT-2, Hyderabad. Hence learned counsel for assessee requested permission to withdraw the appeal.

3.

We dismiss this appeal as withdrawn and further make it clear that it shall be open for the assessee to file for revival of its case if the settlement benefit is denied to it for technical reasons.

4.

This assessee’s appeal is dismissed as withdrawn in above terms. Order pronounced in Open Court on 05 /05/2021.

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