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Income Tax Appellate Tribunal, HYDERABAD BENCHES “B” : HYDERABAD
Before: SMT. P. MADHAVI DEVI & SHRI A. MOHAN ALANKAMONY
For Assessee : Shri K.C. Devdas For Revenue : Shri Rohit Majumdar Date of Hearing : 16-12-2020 Date of Pronouncement : 17-12-2020 O R D E R PER Smt. P. MADHAVI DEVI, J.M. :
These are assessees’ appeals filed against the orders of CIT(A) – 7, Hyderabad relating to AY 2008-09.
:- 2 -: and others C. Venkateswara Rao and others
These appeals filed by the assessees were taken up for hearing through Video Conference on 16/12/2020 and both the parties were heard.
The Ld.AR for the assessees has requested for withdrawal of the appeals filed by the assessees stating that the assessees have 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 applications to this effect have been filed by the assessees and that the assessees have also received Form- 3.
3. The Ld. DR has no objection to the same.
In view of the above, we accept the request of the assessees for withdrawal of the appeals as Pr.CIT-4 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 appellants (i.e. the assessees) are at liberty to approach the Tribunal for reinstitution of the appeals and the Tribunal shall consider such applications appropriate as per law. The Ld. DR for the revenue has no objection with regard to the aforesaid caveat.
:- 3 -: and others C. Venkateswara Rao and others
In the result, the appeals of the assessees are dismissed as ‘withdrawn’. Order pronounced in the open court on 17th December, 2020.