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Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM
Before: SHRI N.K. CHOUDHRY, HON’BLE & SHRI D.S. SUNDER SINGH, HONBLE
Assessee by : Shri I. Kama Sastry, CA. Department by : Smt. Suman Malik, Sr.DR Date of hearing : 04/03/2021. Date of pronouncement : 04/03/2021. O R D E R Per N.K. Choudhry, Judicial Member:
This appeal has been preferred by the Revenue Department against the order dated 19/10/2016 impugned herein passed by the ld. CIT(A), Vijayawada u/sec. 250(6) of the Income Tax Act, 1961 (hereinafter referred to as the "Act") for the A.Y. 2012-13.
The assessee has preferred an application under consideration dated 17/02/2021 for dismissing the appeal.
At the outset, ld.AR has submitted that since assessee has availed the immunity scheme i.e. Vivad Se Vishwas under the 2 (Annamareddy Varahala Rao) Direct Tax Vivad se Vishwas Act, 2020 and the Income Tax Department has issued Form No.3, dated 22/01/2021 in response to the application filed by the assessee under the scheme, therefore appeal of the Revenue Department may be dismissed.
The Ld. DR raised no objection, if the appeal of the Revenue Department is allowed to be dismissed with liberty to seek recall of the order in case any unforeseen circumstances would arise in future.
Having heard both the parties and perused the application for withdrawal of the appeal and Form No.3 (Copy already on record) issued by the Department. Considering the facts and circumstances of the case, the appeal of Revenue Department is liable to be dismissed with liberty to seek recall of the order as prayed for in accordance with law, hence ordered accordingly.
In the result, appeal of the Revenue Department stands dismissed. Order Pronounced in open Court on this 04th day of March, 2021.