FOSTER WHEELER (GB) LIMITED,CHENNAI vs. DCIT, INTERNATIONAL TAXATION CIRCLE-1(1), CHENNAI

ITTPA 46/CHNY/2023Status: DisposedITAT Chennai21 February 2025AY 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. The reasoning was based on the assessee's successful participation in the Vivad-Se-Vishwas Scheme, 2024. The assessee had filed Form-1, received Form-2 from the designated authority, and was remitting the settlement amount of Rs. 2,86,50,719/-. Since the Revenue did not oppose the withdrawal, the Tribunal found no impediment to granting the request. The operative direction was to dismiss the appeal as withdrawn. No issues were expressly left undecided.

What were the facts?

The assessee, Foster Wheeler (G.B.) Ltd., filed an appeal against the order of the Dy. Commissioner of Income Tax, International Taxation-1(1), Chennai, for Assessment Year 2012-13. The assessee informed the Tribunal that it had opted for the Vivad-Se-Vishwas Scheme, 2024. Pursuant to this, Form-1 was filed on 23.12.2024, and Form-2 was issued by the designated authority (PCIT) on 08.01.2025. The assessee stated it was remitting Rs. 2,86,50,719/- to settle the dispute under the scheme. The assessee expressed its desire to withdraw the appeal, and the Revenue did not object.

What were the issues?

1. Whether the assessee is permitted to withdraw its appeal before the Tribunal, given its opting for and compliance with the Vivad-Se-Vishwas Scheme, 2024? Assessee's Contention: The assessee argued that having opted for the Vivad-Se-Vishwas Scheme, 2024, and having filed the necessary forms and remitted the settlement amount, it should be allowed to withdraw its pending appeal before the Tribunal. The assessee relied on the provisions of the Vivad-Se-Vishwas Scheme enabling settlement of disputes. Revenue's Contention: The Revenue did not object to the assessee's request for withdrawal of the appeal.

Which sections of the Income-tax Act were involved?

Vivad-Se-Vishwas Scheme, 2024

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘D’ BENCH: CHENNAI

Before: SHRI ABY T. VARKEY & SHRI S.R.RAGHUNATHA

Hearing: 07.02.2025Pronounced: 21.02.2025

आदेश / O R D E R PER ABY T. VARKEY, JM: This is an appeal preferred by the assessee against the order of the

Learned Dy. Commissioner of Income Tax, International Taxation-1(1)

(hereinafter referred to as ‘Ld.DCIT‘), Chennai, dated 22.03.2023 for the

Assessment Year (hereinafter referred to as ‘AY‘) 2012-13.

At the outset, the Ld.AR of the assessee brought to our notice that

assessee has opted for Vivad-Se-Vishwas Scheme, 2024 (hereinafter in

short ‘VSVS-2024’) and pursuant to it, assessee has filed Form-1 dated

IT (TP) A No.46/Chny/2023 (AY 2012-13) Foster Wheeler (G.B.) Ltd. :: 2 ::

23.12.2024, and pursuant to which the designated authority [PCIT] has issued Form-2, dated 08.01.2025, copy of which is filed before us. And that the assessee is remitting of Rs.2,86,50,719/- to settle the issue under VSVS-2024. Therefore, before us, the assessee expressed its desire to withdraw the appeal and the Revenue doesn’t object to such a proposal. Therefore, we allow the request of the assessee to withdraw the appeal.

In the light of the aforesaid discussion, appeal stands dismissed as withdrawn.

In the result, appeal filed by the assessee is dismissed as withdrawn under VSVS-2024.

Order pronounced on the 21st day of February, 2025, in Chennai.

Sd/- Sd/- (एस. आर. रघुनाथा) (एबी टी. वक�) (S.R.RAGHUNATHA) (ABY T. VARKEY) लेखा सद�य/ACCOUNTANT MEMBER �याियक सद�य/JUDICIAL MEMBER चे�ई/Chennai, �दनांक/Dated: 21st February, 2025. TLN, Sr.PS आदेश क� �ितिलिप अ�ेिषत/Copy to: 1. अपीलाथ�/Appellant 2. ��थ�/Respondent 3. आयकरआयु�/CIT, Chennai / Madurai / Salem / Coimbatore. 4. िवभागीय�ितिनिध/DR 5. गाड�फाईल/GF

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