MANGATRAI GEMS,HYDERABAD vs. DY. COMMISSIONER OF INCOME TAX, CIRCLE-6(1), HYDERABAD

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ITA 1740/HYD/2017Status: DisposedITAT Hyderabad03 December 2020AY 2007-082 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 accepted the assessee's request to withdraw the appeal as they had opted for the Vivad Se Vishwas Scheme. The dismissal is subject to the condition that if the dispute is not resolved under the scheme, the assessee can seek reinstitution of the appeal.

What were the facts?

The assessee filed an appeal against an order relating to AY 2007-08. The assessee subsequently opted to settle the dispute under the Vivad Se Vishwas Scheme, 2020.

What were the issues?

Whether the appeal can be withdrawn by the assessee due to opting for the Vivad Se Vishwas Scheme. The conditionality of the withdrawal based on the scheme's resolution.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, HYDERABAD ‘SMC-A’ BENCH : Hyderabad

Before: Smt. P. Madhavi Devi

Hearing: 03/12/2020Pronounced: 03/12/2020

Date of Hearing : 03/12/2020 Date of Pronouncement : 03/12/2020 O R D E R This is assessee’s appeal filed against the order of CIT(A)-6, Hyderabad dated 04.04.2017 relating to A.Y. 2007-08 passed u/s 143(3) r.w.s. 147 of the Income Tax Act, 1961. This appeal was taken up for hearing through Video Conference on 03.12.2020 and both the parties were heard.

2.

The Ld.AR for the assessee has submitted withdrawal application dated 03.12.2020 stating that the assessee has 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 an application to this effect has been filed by the assessee and that the assessee has also received Form- 3.

3.

The Ld.DR has no objection to the same. ./2017 Mangatrai Gems A.Y. 2007-08 4. In view of the above, the request of the assessee for withdrawal of the appeal as Pr.CIT has issued Form-3 is accepted.

5.

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 appellant (i.e. the assessee) is at liberty to approach the Tribunal for reinstitution of the appeal and the Tribunal shall consider such application appropriate as per law. The Ld.DR for the revenue has no objection with regard to the aforesaid caveat.

6.

In the result, the appeal of the assessee is dismissed as ‘withdrawn’.

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