M/S KUNDIL SPONGE IRON LTD.,PANAJI vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX, PANAJI., PANAJI

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ITA 133/PAN/2017Status: DisposedITAT Panaji21 August 2020AY 2012-133 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, noting that the assessee had opted for the Vivad se Vishwas Scheme and the Revenue had no objection.

What were the facts?

The assessee filed an appeal against a revision order passed by the Principal Commissioner of Income Tax. Subsequently, the assessee opted for the Direct Tax Vivad se Vishwas Scheme, 2020, and their application was accepted.

What were the issues?

The primary issue was the assessee's request to withdraw their appeal due to opting for the Vivad se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Section 263,Section 144

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PANAJI BENCH, PANAJI – VIRTUAL COURT

Before: SHRI R.S. SYAL & SHRI S.S. VISWANETHRA RAVI

For Appellant: Shri Shrinivas Nayak
For Respondent: Shri Surender Singh, IT Inspector

आदेश / ORDER

1.

This appeal by the assessee arises out of the revision order dated 21-03-2017 passed by the Pr. CIT, Panaji-Goa u/s 263 of the Income-tax Act, 1961 in relation to the assessment year 2012-13.

2.

Before us, the assessee has filed a letter dated 13-07-2020, seeking withdrawal of the appeal. The relevant contents of such withdrawal letter reads as under :

“We have opted for the Direct Tax Vivad se Vishwas Scheme, 2020 and our application has been duly accepted by the department. We enclose the copy of the Form-3 received by us.

We had filed the above appeal against the Pr. Commissioner of Income Tax, order u/s.263 of the Income Tax Act, 1961 and subsequently the AO has passed the order u/s.144 r.w.s.263 of the Income Tax Act, which was appealed by us and have now been applied for the VSVS scheme. We enclose the copy of the AO order and the CIT appeal file memo. Considering the above, we would like to withdraw the appeal filed by us before the Tribunal. The copy of the appeal filed memo is enclosed.”

3.

On perusal of the above letter and having no objection from the side of ld. DR, we allow the request of the assessee to withdraw the appeal.

4.

In the result, the appeal is dismissed as ‘withdrawn’.

Order pronounced in the open Court on 21st August, 2020.

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