ACIT CENTRAL CIRCLE 2, COIMBATORE vs. SREE DAKSHA PROPERTY DEVELOPERS INDIA PVT. LTD., COIMBATORE

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ITA 2399/CHNY/2017Status: DisposedITAT Chennai12 April 2023AY 2013-142 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the assessee has filed Form 3 under the Vivad se Vishwas Scheme. Therefore, the appeal filed by the Revenue was dismissed.

What were the facts?

The Revenue filed an appeal against an order of the CIT(A) for assessment year 2013-14. The assessee opted to settle the dispute under the Vivad se Vishwas Scheme, 2020.

What were the issues?

Whether the Revenue's appeal should be kept pending when the assessee has opted for settlement under the Vivad se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Section 153A,Section 143(3),Section 4(2),Section 5(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘A’ BENCH, CHENNAI

Before: SHRI MAHAVIR SINGH, VICE- & SHRI G.MANJUNATHA

Hearing: 12.04.2023

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.

3.

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.

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