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

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ITA 1601/HYD/2019Status: DisposedITAT Hyderabad26 April 2021AY 2016-173 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal allowed the Revenue to withdraw its appeal as the assessee had opted for the Vivad-se-Vishwas Scheme. The Revenue can seek revival of the case if the settlement benefit is denied for technical reasons.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order for AY 2016-17. The assessee opted to avail the benefit under the 'Direct Tax Vivad Se Viswas Scheme-2020'.

What were the issues?

Whether the Revenue's appeal should be withdrawn due to the assessee opting for the Vivad-se-Vishwas Scheme.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 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”.

2.

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.

3.

Having regard to the facts and circumstances of the case, we are inclined to dismiss the appeal of the Revenue as withdrawn since the assessee has preferred to avail the Vivad-se-Vishwas Scheme by filing Form No.1 & 2 and awaiting to receive Form(s)-3, with a rider that it shall be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.

4.

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

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