V. ANNAMALAI (HUF),,SALEM vs. ITO, WARD - 2 92),, SALEM

At the outset, we find that the appeal filed by the assessee is time barred by limitation for which necessary petition for condonation of delay along with affidavit explaining the reasons for the delay has been filed. The ld. counsel submitted that assessee could not file appeal within the time allowed under the Act, therefore delay may be condoned. Having heard both sides and considered the petition filed by the assessee for condonation of delay, we are of the considered view that reason given by assessee for not filing the appeal within the time allowed under the Act comes under reasonable cause as provided under the Act for condonation of delay and hence, delay in filing of above appeal is condoned and appeal filed by the assessee is admitted for adjudication.

We have heard the ld.AR for the assessee and the ld. 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.AR for the assessee further submitted that the Department has accepted application filed by the assessee and issued Form 3 quantifying amount of taxes payable under VSVS scheme. Therefore, the ld.AR for the assessee submitted that the assessee may be permitted to withdraw the appeal. The ld.DR on the other hand has no objection for withdrawing appeal filed by the assessee. Therefore, considering the fact that the assessee has filed application for withdrawal of appeal and has also filed Form 3 issued by the Department, we dismiss the appeal filed by the assessee as withdrawn. However, a liberty is given to the assessee to restore the appeal, in case the application filed by the assessee before the Designated Authority, is rejected for any reason.