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Income Tax Appellate Tribunal, BANGALORE BENCHES “B”, BANGALORE
O R D E R Per Bench : These are cross appeals against two orders of the Assessing Officer passed u/s 143(3) r.w.s 144C(13) of the I.T.Act (order dated 18.01.2016 for A.Y. 2011-2012 & order dated 07.08.2017 for A.Y. 2013-2014). The relevant assessment years are 2011-2012 and 2013-2014.
The assessee during the course of hearing had submitted vide letter dated 19th March, 2021, that it has opted for setting
2 IT(TP)A No.483/Bang/2016 & Ors. M/s.LSI India Research & Development Pvt.Ltd.. the matter under Direct Taxes Vivad Se Vishwas Act, 2020 and prayed the appeals may be treated as withdrawn with the liberty to the assessee and Revenue to recall the same, if required.
In view of the submissions of the learned AR and learned DR, we dismiss these appeals as withdrawn, since the assessee wants to settle the matter under Direct Taxes Vivad Se Vishwas Act, 2020. There are two Departmental appeals also, which are withdrawn. If the assessee is not pursuing the matter under Direct Taxes Vivad Se Vishwas Act, 2020, it shall intimate the Department, so that the Department shall file necessary application for recalling the present order.
In the result, the appeals filed by the Revenue and assessee are dismissed.