DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(2), HYDERABAD vs CROWN BEERS INDIA PRIVATE LIMITED, HYDERABAD

Income Tax Appellate Tribunal, Hyderabad ‘ A ‘ Bench, Hyderabad

Before: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

Hearing: 18/02/2021Pronounced: 22/02/2021

This is Revenue’s appeal for the A.Y 2014-15 against the order of the CIT (A)-1, Hyderabad, dated 27.12.2018.

At the outset, the Ld. DR submitted before us that the Revenue does not want to pursue the appeal as the assessee has already filed forms I & II under the “vivad se vishwas” scheme and its acceptance is awaited. Therefore, consequent to the same, the Revenue desires to withdraw the appeal before the Tribunal. Hence it was pleaded, that the appeal of the Revenue may be treated as withdrawn.

After hearing both the parties, we hereby allow the appeal of the Revenue to be withdrawn. We also make it clear that the assessee shall be at liberty to approach the Tribunal within the stipulated time as provided under the Act, in order to reinstate the appeal, if the application with respect to Vivad se Vishwas scheme is rejected.

In the result, appeal of Revenue is dismissed. Order pronounced in the Open Court on 22nd February, 2021.

DY. COMMISSIONER OF INCOME TAX , CIRCLE-1(2), HYDERABAD vs. CROWN BEERS INDIA PRIVATE LIMITED, HYDERABAD