REAL VALUE PROMOTERS PVT LTD.,CHENNAI vs. ACIT COMPANY CIRCLE V(3), CHENNAI

This appeal filed by the assessee is directed against the order passed by the learned Commissioner of Income Tax (Appeals)-3, Chennai dated 31.01.2017 and pertains to assessment year 2010-11.

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 along with Form No.3 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 ld. counsel for the assessee further submitted that the Department has accepted application filed by the Form 3 quantifying amount of taxes payable under VSVS scheme. Therefore, the ld. counsel for the assessee submitted that the appeal filed by the assessee may be dismissed as withdrawn.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 3. Therefore, considering fact that the assessee has filed application for withdrawal of appeal and has also filed Form 3 issued by the Department, we dismiss appeal filed by the assessee as withdrawn.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.

In the result, appeal filed by the assessee is dismissed as withdrawn.