ACIT, CIRCLE-1, VELLORE vs. SHRI MANAKRAJ VASANTRAJ, TIRUVANNAMALAI

The Revenue filed this appeal against the order of the Commissioner of Income Tax (Appeals)- 13, Chennai in 13/CIT(A)-13 dated 26.06.2019 for the assessment year 2012-13.

At the time of hearing, the learned counsel for the assessee has submitted a letter dated 08.07.2021 stating, inter alia, that the assessee wanted to utilize the Direct Taxes ‘Vivad se Vishwas Scheme, 2020’ to settle pending dispute relating to Direct Taxes and in this regard the assessee has filed Form No. 1 and Form 2 and obtained Form No. 3 from the designated authority. We heard the Ld. DR also

The Bench has considered the material. Since the assessee submits that he has filed declaration in Form No.1 along with undertaking waiving rights for any remedy in Form No. 2 to the designated authority, obtained Form No.3 and seeks withdrawal of appeal, we dismiss the appeal filed by the Revenue, supra, as withdrawn. However, liberty is given to the Revenue to approach the Tribunal by filing an appropriate application, in the event of any injustice caused to it in respect of the settlement of dispute relating to the Vivad se Vishwas Scheme, 2020. We, further make it clear that the assessee should promptly inform the Assessing Officer about their decision to opt out of the scheme or rejection of application by the designated authority to the Assessing Officer, so as to enable the Revenue to file appropriate application to restore the appeal.

In the result, the appeal filed by the Revenue is dismissed as withdrawn.