PRAVEEN KUMAR JAIN HUF,CHENNAI vs. ITO NON CORPORATE WARD-5(4), CHENNAI

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ITA 37/CHNY/2020Status: DisposedITAT Chennai04 July 2022AY 2011-122 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The Tribunal dismissed the appeal as withdrawn, noting that the assessee had opted for the Vivad se Vishwas scheme and the Department had issued Form 5. Liberty was granted to restore the appeal if the scheme application was rejected.

What were the facts?

The assessee filed an appeal before the ITAT for assessment year 2011-12. The assessee subsequently availed the 'Vivad se Vishwas Scheme, 2020' to settle the dispute. The Department issued Form 5 under the scheme, quantifying the taxes payable.

What were the issues?

The primary issue was the assessee's withdrawal of the appeal due to availing the Vivad se Vishwas scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘B’ BENCH, CHENNAI

Before: SHRI V. DURGA RAO & SHRI G. MANJUNATHA

Hearing: 04.07.2022

PER G. MANJUNATHA, AM: This appeal filed by assessee is directed against order of learned Commissioner of Income Tax (Appeals)-5, Chennai, dated 25.09.2019 and pertains to assessment year 2011-12.

2.

None appeared for the assessee. We have heard learned DR and also perused the materials available on record. At the time of hearing, the assessee has filed a letter dated 22.06.2022 along with Form No.5 issued by the Department under ‘Vivad se Vishwas Scheme, 2020’ and submitted that the assessee has availed the VSVS scheme to settle its pending disputes. The assessee further submitted that the Department

1.

has accepted application filed by the assessee and issued Form 5 quantifying amount of taxes payable under VSVS scheme. Therefore, the assessee submitted that the appeal filed by the assessee may be dismissed as withdrawn. The ld. DR, on the other hand, has no objection for dismissing the appeal as the Designated Authority has issued Form 5.

Therefore, considering fact that the assessee has filed application for withdrawal of appeal and has also filed Form 5 issued by the Department, we dismiss appeal filed by the assessee as withdrawn. However, a liberty is given to the assessee to restore the appeal, in case application filed by the assessee before the Designated Authority, is rejected for any reason.

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