G vs. SPINNERS PRIVTE LIMITED,ERODEVS.ACIT, CIRCLE-1,, ERODE

There is a delay of 556 days in filing the appeal by the assessee in ITA No.1396/Chny/2023. The assessee has filed condonation & 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 and therefore, wants to 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 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 We allow the assessee to withdraw the appeals and dismiss the appeals as withdrawn.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In the result, both the appeals filed by the assessee are dismissed as withdrawn.