VENKAR CHEMICALS PVT.LTD., HYD,HYDERABAD vs. DCIT, CIRCLE-17(2), HYD, HYDERABAD

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ITA 1258/HYD/2016Status: DisposedITAT Hyderabad19 April 2021AY 2012-133 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal allowed the assessee to withdraw the appeal, noting that the assessee had filed the necessary forms under the Vivad Se Viswas scheme and the Revenue had no objection. The appeal was dismissed as withdrawn.

What were the facts?

The assessee filed an appeal against the CIT(A) order for AY 2012-13. The assessee expressed a desire to withdraw the appeal as they had opted for the 'Vivad Se Viswas' scheme.

What were the issues?

The primary issue was whether the assessee could withdraw their appeal due to opting for the Vivad Se Viswas scheme.

Which sections of the Income-tax Act were involved?

Not Applicable

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, HYDERABAD BENCH “A”, HYDERABAD

For Appellant: Shri S. Rama Rao
For Respondent: Shri Sunil Kumar Pandey, DR
Hearing: 15/04/2021Pronounced: 19/04/2021

This appeal is filed by the assessee against the order of the Ld. CIT(A)-5, Hyderabad in appeal No. 0046/2015-16/CIT(A)-5, dated 28/07/2016 passed U/s. 143(3) r.w.s 250(6) of the Act for the A.Y. 2012-13.

2.

At the outset, Ld. AR submitted before us that the assessee desires to withdraw its appeal as the assessee has opted to avail ‘Vivad Se Viswas’ scheme. It was further submitted that the assessee had filed Form No.1 & 2 and Form-3 was also issued by the Revenue. It was therefore pleaded, that the appeal of the assessee may be allowed to be withdrawn.

3.

The Ld. DR stated that if the assessee desires to opt Vivad-se- Vishwas Scheme, the Department has no objection.

4.

Having regard to the facts and circumstances of the case, We are inclined to allow the appeal of the assessee to be withdrawn yielding to the prayer of the assessee that he has preferred to avail the Vivad-se- Vishwas Scheme by filing Forms No.1, 2 and Form-3 was also issued by the Revenue. The Ld. DR has also conceded to the request of the assessee. Accordingly, We hereby dismiss the appeal of the assessee as withdrawn. However, we also make it clear that, if the assessee’s case is not accepted in the Vivad-Se-Viswas scheme by the Revenue for whatsoever may be the reason, then the assessee shall be at liberty to file a Miscellaneous Petition before the Tribunal within the time limit prescribed under the Act to reinstate the appeal. It is ordered accordingly.

5.

In the result, appeal of the assessee is dismissed as withdrawn.

Pronounced in the open Court on 19th April, 2021.

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