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Income Tax Appellate Tribunal, HYDERABAD ‘SMC’ BENCH : Hyderabad
Before: Smt. P. Madhavi Devi
Date of Hearing : 07/01/2021 Date of Pronouncement : 07/01/2021 O R D E R This is assessee’s appeal filed against the order of CIT(A)-6, Hyderabad dated 05.09.2019 relating to A.Y. 2016-17 passed u/s 143(3) of the Income Tax Act, 1961. This appeal was taken up for hearing through Video Conference on 07.01.2021 and both the parties were heard.
The Ld.AR for the assessee has submitted that the assessee has opted to settle the dispute relating to the tax arrears for the A.Y. under consideration under “Vivad Se Vishwas Scheme, 2020”. He further submitted that an application to this effect has been filed by the assessee and that the assessee has also received Form- 3. He requested that the assessee may be permitted to withdraw the appeal.
The Ld.DR has no objection to the same. ./2019 Mallaiah Prakash Rao Cirigiri AY 2016-17
In view of the above, I accept the request of the assessee for withdrawal of the appeal as Pr.CIT-2 has issued Form-3.
However, the aforesaid is subject to a caveat that in case the dispute relating to tax arrears for the captioned A.Y. is not ultimately resolved in terms of the afore-stated Act, the appellant (i.e. the assessee) is at liberty to approach the Tribunal for reinstitution of the appeal and the Tribunal shall consider such application appropriate as per law. The Ld.DR for the revenue has no objection with regard to the aforesaid caveat.
In the result, the appeal of the assessee is dismissed as ‘withdrawn’.