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Income Tax Appellate Tribunal, HYDERABAD BENCH “B”, HYDERABAD
Before: SMT. P. MADHAVI DEVI & SHRI A. MOHAN ALANKAMONY
IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH “B”, HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER & 897/Hyd/2016 Assessment Year:2007-08 and 2012-13 M/s. Veekay Tapes & Vs. Income Tax Officer, Packaging Pvt Ltd., Ward-17(3), Hyderabad. Hyderabad – 500 004. PAN: AABCV 0826 H (Appellant) (Respondent) Assessee by: None Revenue by: Shri Rohit Mujumdar, DR Date of hearing: 20/01/2021 Date of pronouncement: 21/01/2021 ORDER PER A. MOHAN ALANKAMONY, AM.:
These appeals are filed by the assessee against the order of the Ld. CIT (A)-5, Hyderabad in appeal No. 0689 & 0694/CIT(A)-5/2014- 15, dated 29/03/2016 passed U/s. 143(3) r.w.s 147 and U/s. 250(6) of the Act for the AY: 2007-08 and 2012-13.
At the time of hearing, none appeared before us to represent the appeals of the assessee. However, on perusing the record, We find that the Ld. AR has filed written submissions before the Tribunal wherein it is stated that the assessee desires to withdraw its appeals as it has opted to avail ‘Vivad Se Viswas’ scheme and accordingly filed Form No.1 & 2 and received Form-3 from the Revenue for the A.Y. 2007-08 and 2012-13. It was therefore pleaded, that the appeals of the assessee may be allowed to be withdrawn.
The Ld. DR conceded to the submissions of the Ld. AR.
Having heard the Ld. DR and on perusal of the Ld. AR's written submissions, We are inclined to allow the appeals of the assessee to be withdrawn yielding to the prayer of the Ld. AR as the assessee has preferred to avail the Vivad-se-Vishwas Scheme by filing Form No.1 & 2 and also received Form No.3 from the Revenue for the A.Y. 2007-08 and 2012-13. The Ld. DR has also conceded to the Ld. AR's submissions. Accordingly, We hereby dismiss the appeals of the assessee as withdrawn. However, we also make it clear that, if the assessee’s cases are 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 relevant appeal/s. It is ordered accordingly.
Pronounced in the open Court on 21st January, 2021.