GOKUL GEMS AND JEWELS PRIVATE LIMITED,HYDERABAD vs. ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1), HYDERABAD

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ITA 850/HYD/2018Status: DisposedITAT Hyderabad19 November 2020AY 2011-123 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 for withdrawal of appeals as the assessee opted to settle the dispute under the 'Vivad Se Vishwas Scheme, 2020'. The withdrawal is subject to the condition that if the dispute is not resolved under the scheme, the assessee can seek reinstitution of the appeals.

What were the facts?

The assessee company filed appeals before the ITAT for AYs 2009-10, 2010-11, and 2011-12. The assessee requested withdrawal of these appeals.

What were the issues?

The primary issue was the assessee's request to withdraw appeals due to opting for the Vivad Se Vishwas Scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, HYDERABAD BENCHES “B” : HYDERABAD

Before: SMT. P. MADHAVI DEVI & SHRI D.S. SUNDERE SINGH

For Assessee : Shri K.C. Devdas For Revenue : Shri YVST Sai Date of Hearing : 19-11-2020 Date of Pronouncement : 19-11-2020 O R D E R PER D.S. SUNDER SINGH, A.M. :

All these appeals filed by the assessee are against the common order of CIT(A) – 11, Hyderabad, dated 21/12/2017 relating to AYs 2009-10, 2010-11 and 2011-12.

2.

These appeals filed by the assessee were taken up for hearing through Video Conference on 19/11/2020 and both the parties were heard.

:- 2 -: to 850/Hyd/2018 Gokul Gems and Jewels Pvt. Ltd. Hyd.

3.

The Ld.AR for the assessee has requested for withdrawal of the appeals filed by the assessee stating that the assessee has opted to settle the dispute relating to the tax arrears for the A.Ys. 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.

4.

The Ld. DR has no objection to the same.

5.

In view of the above, we accept the request of the assessee for withdrawal of the appeals as Pr.CIT (Central), Hyderabad has issued Form-3.

6.

However, the aforesaid is subject to a caveat that in case the dispute relating to tax arrears for the captioned A.Ys. are 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 appeals 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.

:- 3 -: to 850/Hyd/2018 Gokul Gems and Jewels Pvt. Ltd. Hyd.

7.

In the result, the appeals of the assessee are dismissed as ‘withdrawn’. Order pronounced in the open court on19th November, 2020.

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