SAS REALTORS P. LTD.,CHENNAI vs. ACIT, CHENNAI

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ITA 1439/CHNY/2017Status: DisposedITAT Chennai12 April 2022AY 2012-132 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal considered the fact that the assessees had filed applications for withdrawal of appeals as infructuous due to settlement under the Vivad se Viswas Act. Both appeals were dismissed as withdrawn.

What were the facts?

The appeals were filed by two different assessees against orders passed under Section 263 of the Income Tax Act for AY 2012-13. The assessees had availed the 'Vivad se Vishwas Scheme, 2020' to settle their pending disputes.

What were the issues?

Whether the appeals should be dismissed as withdrawn since the disputes were settled under the Vivad se Vishwas Scheme.

Which sections of the Income-tax Act were involved?

Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘D’ BENCH, CHENNAI

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

Pronounced: 12.04.2022

Heard together (2 matters)

I.T.A.No.1438/Chny/2017
I.T.A.No.1439/Chny/2017

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

PER G.MANJUNATHA, AM:

1.

These two appeals filed by two different assessees are directed against separate, but identical orders passed by the learned Principal Commissioner of Income Tax, Central-1, Chennai, under section 263 of the Income Tax Act, 1961, both dated 29.03.2017 and pertain to assessment year 2012-13.

2.

We have heard learned counsel for the assessee and learned DR and also perused the materials available on record.

At the time of hearing, learned counsel for the assessee has filed a letter dated 12th April, 2022 stating that order giving effect was passed and settled under ‘Vivad se Vishwas Scheme, 2020’ and submitted that the assessee has availed the VSVS scheme to settle its pending disputes. Therefore, the ld. counsel for the assessee submitted that both these appeals filed by the assessee may be dismissed as withdrawn. The ld. DR, on the other hand, has no objection for dismissing these appeals as the order giving effect was passed and settled under Vivad Se Viswas Act, 2020.

3.

Therefore, considering fact that the assessee has filed applications for withdrawal of appeals as infructuous, as the order giving effect was passed and settled under Vivad Se Viswas Act, 2020, we dismiss both these appeals filed by the assessee as withdrawn.

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