FLAKT WOOD (LUXEM BOURG) S.A.R.L.,FOREIGN, LUXEMBOURG vs. DEPUTY COMMISSIONER OF INCOME TAX INTERNATIONAL TAXATION, CIRCLE 1(1), CHENNAI

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ITA 255/CHNY/2023Status: DisposedITAT Chennai07 March 2025AY 2014-15Bench: SHRI ABY T. VARKEY (Judicial Member), SHRI JAGADISH (Accountant Member)1 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The Tribunal allowed the assessee to withdraw the appeal, dismissing it as withdrawn. The assessee was also permitted to approach the Tribunal if any prejudice occurred due to the settlement scheme.

What were the facts?

The assessee opted for the Direct Tax Vivad-se-Vishwas Scheme, 2024, after the final assessment order was passed. The assessee filed Form-1 and the Designated Authority issued Form No.2 for settlement.

What were the issues?

Whether the assessee can withdraw their appeal after opting for the Direct Tax Vivad-se-Vishwas Scheme, 2024.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 144C(13),Section 144C,Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘A’ BENCH: CHENNAI

Before: SHRI ABY T. VARKEY & SHRI JAGADISH

Hearing: 07.03.2025Pronounced: 07.03.2025

आदेश / O R D E R PER JAGADISH, A.M : Aforesaid appeal by assessee for Assessment Year (AY) 2014- 15 arises out of final assessment order dated 28.12.2022 passed by Ld. Assessing Officer (AO) u/s 143(3) r.w.s. 144C(13) pursuant to the directions of Ld. Dispute Resolution Panel-2, Bangaluru (DRP) dated 15.12.2022 u/s 144C r.w.s 147 of the Income-tax Act, 1961 (hereinafter “the Act”).

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 appeal. 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 this case, 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 appeal. We allow the assessee to withdraw the appeal and dismiss the appeal 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.

4.

In the result, the appeal filed by the assessee is dismissed as withdrawn.

Order pronounced in the open Court on 07th March, 2025.

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