What did the Tribunal hold?

The Tribunal allowed the assessee to withdraw the appeals. The appeals filed by the assessee and the Revenue were dismissed as withdrawn. The cross objections filed by the assessee were dismissed as infructuous.

The assessee opted for the Direct Tax Vivad-se-Vishwas Scheme, 2024. Consequently, the assessee's authorized representative requested to withdraw the appeals filed by the assessee and the Revenue. The cross objections filed by the assessee were in support of the appellate orders.

What were the issues?

Whether the appeals can be withdrawn by the assessee due to opting for the Direct Tax Vivad-se-Vishwas Scheme, and consequential dismissal of cross-objections.

Nippon Signal Co Ltd vs Asst. Commissioner, International… | ITAT Chennai 2025

Income Tax Appellate Tribunal, ‘C’ BENCH: CHENNAI

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

Hearing: 21.02.2025Pronounced: 21.02.2025

आदेश / O R D E R PER BENCH:

These appeals, filed by both the assessee and the Revenue, along with the cross-objections filed by the assessee, are arising out of the common orders passed by the Learned Commissioner of Income Tax (Appeals)-16, Chennai [in short ‘CIT(A)’] dated 01.12.2023 for the Assessment Years [in short ‘AY’] 2014-15, 2018-19 & 2019-20. Since the assessee opted for the Direct Tax Vivad-se-Vishwas Scheme, 2024, all the appeals have been heard together. Accordingly, we dispose off all these appeals and cross objections by this consolidated order for the sake of convenience.

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 in 257, 258/Chny/2024, which were filed by the assessee, as ITA Nos.254, 257 & 258/Chny/2024 115 & 116/Chny/2024 C.O Nos.43, 44 & 45/Chny/2024 (AYs – 2014-15, 2018-19 & 2019-20) Nippon Signal Co. Ltd., :- 3 -: well as the appeals in ITA Nos.114, 115 & 116/Chny/2024, which were filed by the Revenue. The Ld. A.R has submitted a copy of Form-1 filed by the assessee in the aforesaid cases/appeals, and Form-2 issued by the designated authority in all these cases, in order to support the aforesaid contention.

Per Contra, The Ld. Departmental Representative does not express any objection to the proposed withdrawal of appeals.

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. Pursuant to which, 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 captioned 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 appropriate applications in the event of any prejudice caused in respect of the settlement of tax dispute under the Direct Tax Vivad-se- Vishwas Scheme, 2024. , 257 & 258/Chny/2024 115 & 116/Chny/2024 C.O Nos.43, 44 & 45/Chny/2024 (AYs – 2014-15, 2018-19 & 2019-20) Nippon Signal Co. Ltd., :- 4 -:

Nos.43, 44 & 45/Chny/2024 are concerned, the COs were filed in support of the appellate orders passed by the Ld. CIT(A). Since, we have dismissed the appeals filed by the Revenue, the COs filed by the assessee become infructuous and liable to be dismissed. Accordingly, the COs filed by the assessee are dismissed.

In the result, the appeals filed by the assessee in 257 & 258/Chny/2024 and appeals filed by the Revenue in ITA Nos.114, 115 & 116/Chny/2024 are dismissed as withdrawn. The C.Os filed by the assessee in C.O Nos.43, 44 & 45/Chny/2024 are also dismissed.

Order pronounced on 21st February, 2025, in Chennai.

NIPPON SIGNAL CO LTD,CHENNAI vs. ASST. COMMISSIONER, INTERNATIONAL TAXATION CIRCLE 2(2) OF INCOME TAX, CHENNAI

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