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Income Tax Appellate Tribunal, ‘A’ BENCH, CHENNAI
Before: SHRI MAHAVIR SINGH, VICE- & SHRI G.MANJUNATHA
PER MAHAVIR SINGH, VP: This appeal by the Revenue is arising out of order passed by the Commissioner of Income Tax (Appeals)-18, Chennai, in dated 27.07.2017 for the assessment year 2013-14. The assessment was completed by the DCIT., Central Circle-2, Coimbatore for relevant assessment year 2013-14 u/s. 153A r.w.s 143(3) of the Income Tax Act, 1961 (hereinafter “the Act”) vide order dated 31.03.2016. 2. At the time of hearing, the ld.AR for the assessee has filed a letter dated 11.04.2023 and stated that the assessee opts to utilize the Direct Taxes ‘Vivad se Vishwas Scheme, 2020’ to settle pending dispute relating to Direct Taxes. The ld.AR has also stated that the assessee shall make payment of the tax amount as per Form 3 and in this regard seeks permission to close the proceedings appropriately in terms of provisions of section 4(2) r.w.s. 5(1) of Vivad se Vishwas Act, 2020.
The ld.CIT DR submitted that in case the dispute is not finally settled by the assessee under VSVS, 2020, the Revenue is at liberty to recall this order.