SLN SECURITIES AND FOREX P LTD.,CHENNAI vs. ACIT, CHENNAI

ITA 1102/CHNY/2017Status: DisposedITAT Chennai10 March 2022AY 2012-132 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 allowed the assessee's request to withdraw the appeal. The appeal was dismissed as withdrawn in light of the settlement under the Vivad Se Vishwas Scheme.

What were the facts?

The assessee had opted for settlement of dispute under the Direct Tax Vivad Se Vishwas Scheme, 2020. Consequently, the assessee sought withdrawal of the appeal filed before the tribunal.

What were the issues?

Whether an appeal can be withdrawn if the assessee has opted for settlement under the Vivad Se Vishwas Scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘B’ BENCH, CHENNAI

Before: HON’BLE SHRI V. DURGA RAO & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM

For Appellant: Shri N. Arjunraj (C.A) for Shri S. Sridhar (Advocate) – Ld. AR, Shri P. Sajit Kumar (JCIT) – Ld. DR

For Respondent: Shri P. Sajit Kumar (JCIT) – Ld. DR

आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. The Ld. AR submitted that the assessee has already opted for settlement of dispute for the year under Direct Tax Vivad Se Vishwas Scheme (VVS Scheme), 2020 and therefore, the assessee seeks withdrawal of the appeal. The copy of Form-5 has been placed on record. The Ld. DR did not object to the same.

In view of foregoing, the assessee’s appeal stands dismissed as withdrawn.

Order pronounced on 10th March, 2022.

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