THE ACIT, VISAKHAPATNAM vs. SHRI ANNAMAREDDY VARAHALA RAO, VISAKHAPATNAM

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ITA 96/VIZ/2017Status: DisposedITAT Visakhapatnam04 March 2021AY 2012-20133 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the Revenue Department's appeal as the assessee had opted for the Vivad se Vishwas scheme. Liberty was granted to seek recall of the order if unforeseen circumstances arise.

What were the facts?

The Revenue Department filed an appeal against the CIT(A)'s order for AY 2012-13. The assessee applied for the Vivad se Vishwas scheme and received Form No. 3 from the Income Tax Department.

What were the issues?

Whether the Revenue's appeal should be dismissed due to the assessee's participation in the Vivad se Vishwas scheme.

Which sections of the Income-tax Act were involved?

Section 250(6)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM

Before: SHRI N.K. CHOUDHRY, HON’BLE & SHRI D.S. SUNDER SINGH, HONBLE

For Appellant: Shri I. Kama Sastry, CA
For Respondent: Smt. Suman Malik, Sr.DR
Hearing: 04/03/2021

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.

2.

The assessee has preferred an application under consideration dated 17/02/2021 for dismissing the appeal.

3.

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.

4.

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.

5.

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.

6.

In the result, appeal of the Revenue Department stands dismissed. Order Pronounced in open Court on this 04th day of March, 2021.

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