FRIENDS AGRICHEM PRIVATE LIMITED,BUNDI vs. INCOME TAX OFFICER, BUNDI

During the course of hearing, the ld AR submitted that the assessee wishes to resolve these two matters and has since moved application under Vivad Se Vishwas Scheme, 2020. The Designated authority has since issued conditional Form 3 subject to assessee obtaining order of condonation of delay from the Tribunal. It was submitted that the order passed by the ld CIT(A) was communicated to &130/JP/2019 2 Friends Agrichem Pvt. Ltd. vs. ITO the assessee on 5.12.2018 and thereafter, the appeal was filed on 4.2.2019 well within the limitation period as provided under the Act. It was further submitted that there is no prejudice which will be caused to the department as the assessee has already moved an application for settlement of present dispute and payment of taxes.

The Registry on verification has however reported a delay of one day in filing the present appeals. Considering the facts of the case, in exercise of powers under section 253(5) of the Act, we hereby condone the said delay in filing the present appeals and the appeals are hereby admitted for adjudication.

Further, as the assessee has applied for withdrawal of these two appeals on the ground that the assessee has opted Vivad Se Vishwas Scheme and the Competent authority has already issued Form No. 3, we hereby permit the assessee to withdraw the present appeals.

In view of above, the prayer of the assessee is accepted and both the appeals are dismissed as withdrawn by the assessee.