DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD vs NMDC LIMITED, HYDERABAD

Income Tax Appellate Tribunal, HYDERABAD BENCHES “A”: HYDERABAD

Before: SHRI SATBEER SINGH GODARA & LAXMI PRASAD SAHU

For Appellant: Shri Laxmi Niwas Sharma

For Respondent: Shri R. Dipak, Shri Laxmi Niwas Sharma

Hearing: 21/04/2021Pronounced: 26/04/2021

O R D E R PER BENCH: This appeal filed by the Revenue for AY 2016-17 is directed against CIT(A) - 4, Hyderabad’s order dated 08/08/2019 involving proceedings u/s 143(3) of the Income Tax Act, 1961 ; in short “the Act”.

At the outset, the ld. DR submitted that since the assessee has opted to avail the benefit under the ‘Direct Tax Vivad Se Viswas Scheme-2020’ in prescribed Form No.1 & 2, which are placed on record and awaiting to receive Form(s)-3, requested the Bench to permit to withdraw Revenue’s appeal.

Having regard to the facts and circumstances of the case, we are inclined to dismiss the appeal of the Revenue as withdrawn since the assessee has preferred to avail the Vivad-se-Vishwas Scheme by filing Form No.1 & 2 and awaiting to receive Form(s)-3, with a rider that it shall be very much open for the Revenue to file for revival of this case, if the settlement benefit under the scheme is denied to the assessee for technical reasons.

In the result, Revenue’s appeal is dismissed in above terms. Pronounced in the open court on 26th April, 2021.

DY. COMMISSIONER OF INCOME TAX , CIRCLE-16(1), HYDERABAD vs. NMDC LIMITED, HYDERABAD