M/S. AMBADI INVESTMENTS LTD.,CHENNAI vs. DCIT, CORPORATE CIRCLE-1(1), CHENNAI

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ITA 3254/CHNY/2024Status: DisposedITAT Chennai10 March 2025AY 2019-20Bench: SHRI ABY T. VARKEY (Judicial Member), SHRI JAGADISH (Accountant Member)1 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal allowed the assessee to withdraw the appeals. The appeals were dismissed as withdrawn. The assessee reserves the right to approach the Tribunal if any prejudice arises from the settlement under the scheme.

What were the facts?

The assessee filed two appeals for AYs 2018-19 & 2019-20 against the orders of the CIT(A). The assessee has opted for the Direct Tax Vivad-se-Vishwas Scheme, 2024 and wishes to withdraw the appeals.

What were the issues?

Whether the appeals filed by the assessee can be withdrawn consequent to opting for the Direct Tax Vivad-se-Vishwas Scheme, 2024.

Which sections of the Income-tax Act were involved?

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘B’ BENCH: CHENNAI

Before: SHRI ABY T. VARKEY & SHRI JAGADISH

Hearing: 10.03.2025Pronounced: 10.03.2025

आदेश / O R D E R

PER JAGADISH, A.M : Aforesaid two appeals filed by the assessee for Assessment Years (AYs) 2018-19 & 2019-20 arises out of the orders of Learned Commissioner of Income Tax, National Faceless Appeal Centre (NFAC), Delhi [hereinafter “CIT(A)”] dated 13.11.2024.

& 3254/Chny/2024 :- 2 -:

2.

The Ld. Authorized Representative (A.R) of the assessee, at the outset stated that assessee has opted for Direct Tax Vivad-se-Vishwas Scheme, 2024 and therefore, wants to withdraw the appeals. The Ld.

1.

A.R has submitted a copy of Form-1 filed by the assessee and Form-2 issued by the designated authority in support of its contention.

3.

We have heard both the sides, and perused the materials available on record. In these cases, the assessee has opted for the Direct Tax Vivad-se-Vishwas Scheme, 2024 by filing Form-1. The Designated Authority has also issued Form No.2 for the settlement of pending tax dispute. The Ld. AR has now made a request to withdraw the appeals. We allow the assessee to withdraw the appeals and dismiss the appeals as withdrawn. However, it is open to the assessee to approach the Tribunal by filing an appropriate application in the event of any prejudice caused in respect of the settlement of tax dispute under the Direct Tax Vivad-se-Vishwas Scheme, 2024.

& 3254/Chny/2024 :- 3 -:

5.

In the result, both the appeals filed by the assessee are dismissed as withdrawn.

Order pronounced in the open Court on 10th March, 2025.

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