MASCO,,CHENNAI vs. ITO, NCW - 10 93),, CHENNAI

This appeal filed by the assessee is directed against the order of the ld. Commissioner of Income Tax (Appeals) 12, Chennai, dated 22.05.2019 relevant to the assessment year 2016-17.

When the appeal was taken up for hearing, by filing a petition dated 17.08.2021, the ld. Counsel for the assessee has submitted that the assessee has opted to avail the Vivad-se-Vishwas Scheme 2020 and filed Form No.3 with respect to the same has been issued by the designated authority. Thus, the ld. Counsel for the assessee has sought for permission to withdraw the appeal.

On the other hand, the ld. DR has not raised any objection to the submissions of the ld. Counsel for the assessee.

We have heard both the sides, perused the materials available on record and gone through the orders of the authorities below. In this case, the assessee has opted for the Vivad-se-Vishwas Scheme 2020 and the Designated Authority has issued Form No.3 for the settlement of pending tax dispute. Therefore, through a letter dated 17.08.2021, the ld. Counsel for the assessee has prayed for permission to withdraw the appeal. In view of the above, the appeal filed by the assessee is permitted to be withdrawn. However, it is open to the assessee to approach the Tribunal by filing an appropriate application in the event of any injustice caused to the assessee in respect of the settlement of dispute relating to the Vivad-se-Vishwas Scheme 2020.

In the result, the appeal of the assessee is dismissed as withdrawn. Order pronounced on the 18th August, 2021 at Chennai.