CYIENT LIMITED, HYDERABAD,HYDERABAD vs. DCIT, CIRCLE-1(2), HYDERABAD, HYDERABAD

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ITA 288/HYD/2017Status: DisposedITAT Hyderabad10 December 2020AY 2012-132 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal allowed the assessee's request to withdraw the appeal as it had opted for the "Vivad se Vishwas" scheme. The assessee was granted liberty to approach the Tribunal for reinstatement if the scheme application was rejected.

What were the facts?

The assessee, Cyient Ltd, filed an appeal for AY 2012-13. The assessee subsequently availed the benefit of the "Vivad se Vishwas" scheme and requested to withdraw the appeal.

What were the issues?

The primary issue was the withdrawal of the appeal by the assessee due to opting for the "Vivad se Vishwas" scheme.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, Hyderabad ‘ A ‘ Bench, Hyderabad

Before: Smt. P. Madhavi Devi & Shri A. Mohan Alankamony

Hearing: 09/12/2020Pronounced: 10/12/2020

This is assessee’s appeal for the A.Y 2012-13 against the draft assessment order of the Dy.CIT, Circle 1(2) and the assessment order passed u/s 143(3) r.w.s 144C of the I.T. Act Hyderabad, dated 13-12-2016.

2.

At the outset, the Ld. AR submitted before us that the assessee does not want to pursue the appeal as it has already availed the benefit of “vivad se vishwas” scheme wherein its application was accepted. Therefore, consequent to the same, the assessee desires to withdraw the appeal before the Tribunal. Hence it was pleaded, that the appeal of the assessee may be treated as withdrawn.

3.

The Ld. DR conceded to the request of the Ld. AR.

4.

After hearing both the parties, according to the request of the assessee and its Ld. AR, we hereby allow the appeal of the assessee to be withdrawn. We also make it clear that the assessee shall be at liberty to approach the Tribunal within the stipulated time as provided under the Act, in order to reinstate the appeal, if the application with respect to Vivad se Vishwas scheme is rejected.

5.

In the result, appeal of assessee is dismissed as withdrawn. Order pronounced in the Open Court on 10th December, 2020.

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