Loading judgment…
Facts
The assessee, GVS Spinners Pvt. Ltd., filed two appeals for AY 2017-18, one of which involved a 556-day delay. The delay was condoned. Subsequently, the assessee opted for the Direct Tax Vivad-se-Vishwas Scheme, 2024, filed Form-1, and received Form-2, requesting to withdraw the appeals due to settlement. A discrepancy was noted in the appeal numbers mentioned in Form-1.
Held
The Tribunal condoned the delay in filing the appeal. It allowed the assessee to withdraw both appeals, which were consequently dismissed as withdrawn. The Tribunal clarified that the assessee retains the right to approach it again if any prejudice arises from the Vivad-se-Vishwas settlement.
Key Issues
Whether to condone the delay in filing the appeal and whether to permit the withdrawal of appeals after the assessee opted for the Direct Tax Vivad-se-Vishwas Scheme.
Sections Cited
263
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, ‘B’ BENCH: CHENNAI
Before: SHRI SS VISWANETHRA RAVI & SHRI JAGADISH
आदेश / O R D E R
PER JAGADISH, A.M : Aforesaid two appeals filed by the assessee for Assessment Years (AYs) 2017-18 arises out of the order of Learned Commissioner of Income Tax, National Faceless Appeal Centre (NFAC), Delhi [hereinafter “CIT(A)”] dated 08.11.2023.
& 1592/Chny/2023 :- 2 -: petition stating the reasons for delay in filing the appeal. We have considered the petition of delay in filing the appeal and satisfied that there was sufficient cause for not filing the appeal within the prescribed time limit. Hence, the delay is hereby condoned.
The Ld. Authorized Representative (A.R) of the assessee, at the outset stated that assessee has opted for Direct Tax Vivad-se-Vishwas withdraw the appeal. The Ld. 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. The Ld. AR further submitted that the appeal number mentioned in Form No.1 was erroneously stated, as the assessee ought to have incorporated the appeal number of the effect giving proceedings in or included both appeal numbers i.e., the appeal against the order u/s. 263 of the Act and the other appeal arising from the effect-giving proceedings.
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 & 1592/Chny/2023 :- 3 -: 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.
In the result, both the appeals filed by the assessee are dismissed as withdrawn.
Order pronounced on 28th February, 2025.