PIONEER ALUMINIUM INDUSTRIES LIMITED,HYDERABAD vs. ACIT, CIRCLE-1(1), HYDERABAD

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ITA 20/HYD/2024Status: DisposedITAT Hyderabad04 March 2025AY 2016-17Bench: SHRI MANJUNATHA G (Accountant Member), SHRI K. NARASIMHA CHARY (Judicial Member)1 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal noted that the assessee had settled the dispute under the Vivad Se Vishwas Scheme and had filed a memo to withdraw its appeal. Consequently, both the assessee's appeal against penalty and the Revenue's appeal against quantum addition were dismissed as withdrawn, as the Revenue's appeal no longer survived.

What were the facts?

The assessee and Revenue filed cross-appeals (ITA.No.20/Hyd./2024 by assessee against penalty and ITA.No.881/Hyd./2024 by Revenue against quantum addition) for AY 2016-17. The assessee subsequently opted for the Direct Taxes Vivad Se Vishwas Scheme, 2024, filed Form No.1, and obtained Form No.2, settling the dispute for Rs.NIL tax payable.

What were the issues?

Whether appeals filed before the ITAT become infructuous and can be dismissed as withdrawn when the assessee opts for the Direct Taxes Vivad Se Vishwas Scheme, 2024, and receives Form No.2 for settlement.

Which sections of the Income-tax Act were involved?

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, HYDERABAD “B” BENCH : HYDERABAD

Before: SHRI MANJUNATHA G & SHRI K. NARASIMHA CHARY

Hearing: 16.01.2025Pronounced: 04.03.2025

Heard together (2 matters)

ITA.No.20/Hyd/2024
ITA.No.881/Hyd/2024

Read from the judgment's own cause title. This page is filed under one of them.

ORDER PER MANJUNATHA G, A.M. : The above cross-appeals are filed by the Assessee and Revenue against the penalty and quantum orders of the 2 ITA.No.20 & 881/Hyd./2024 learned CIT(A)-National Facelss Appeal Centre [in short “NFAC”], Delhi, dated 22.12.2023 dated 10.07.2024, respectively, relating to the assessment year 2016-2017.

2.

Learned Counsel for the Assessee, at the very outset, submitted that the assessee has availed Direct Taxes Vivad Se Vishwas Scheme, 2024 for the quantum appeal and the Designated Authority has issued Form No.2 and accepted the application filed by the assessee in Form No.1. In view of the above, the assessee vide letter dated 27.02.2025 seeks permission of the Tribunal to withdraw the appeal in ITA.No.20/Hyd./2024 and further stated that since the assessee has availed Direct Taxes Vivad Se Vishwas Scheme, 2024 and the Designated Authority has issued Form No.2, the appeal filed by the Revenue ITA.No.881/Hyd./2024 does not survive.

3.

The Learned DR, on the other hand, did not object to the factual position.

4.

We have heard the rival submissions of both the parties and perused the relevant Form No.2 and letter dated

3 ITA.No.20 & 881/Hyd./2024 27.02.2025 filed by the assessee for withdrawal of the appeal and we find that, assessee has settled the dispute under Direct Taxes Vivad Se Vishwas Scheme, 2024 by filing Form No.1 dated 29.01.2025 and the Designated Authority has issued Form No.2 dated 27.02.2025 and determined the tax payable at Rs.NIL. Since the assessee has settled the dispute under Direct Taxes Vivad Se Vishwas Scheme, 2024 and filed memo for withdrawal of the appeal, in our considered view, the appeal filed by the Revenue ITA.No.881/Hyd./2024 against the quantum addition made by the Assessing Officer and the appeal filed by the assessee ITA.No.20/Hyd./2024 against the penalty levied by the Assessing Officer and confirmed by the learned CIT(A) are dismissed as “withdrawn”.

5.

In the result, appeal of the Assessee ITA.No.20/Hyd./2024 and appeal of the Revenue ITA.No.881/Hyd./2024 are dismissed. A copy of this common order be placed in the respective case files.

4 ITA.No.20 & 881/Hyd./2024 Order pronounced in the open Court on 04.03.2025.

Sd/- Sd/- [K. NARASIMHA CHARY] [MANJUNATHA G] JUDICIAL MEMBER ACCOUNTANT MEMBER Hyderabad, Dated 04th March, 2025 VBP Copy to Pioneer Aluminium Industries Limited, Plot No.705, 1. Lakshmi Nivas, Road No.3, Banjara Hills, Hyderabad. PIN – 500 034. Telangana. The ACIT, Circle-1(1), IT Towers, AC Guards, Masab 2. Tank, Hyderabad – 500 004. 3. The Pr. CIT, Hyderabad. 4. The DR ITAT “B” Bench, Hyderabad 5. Guard File //By Order// //True Copy//

Sr. Private Secretary : ITAT : Hyderabad Benches, Hyderabad.

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