DCIT CORPORATE CIRCLE 1, COIMBATORE vs. M/S THE PERIA KARAMALAI TEA & PRODUCE CO LTD, COIMBATORE

I.T.A.No.1579/Chny/2018 is an appeal filed by the Revenue & is an appeal filed by the Assessee against the order of the Commissioner of Income Tax (Appeals)-1, in Appeal No.103/15-16 dated 01.02.2018 for the Assessment Year 2012 - 2013.

As far as the merits of the case is concerned, the Assessee has opted to avail the Vivad-se-Vishwas Scheme 2020 and Form No.3 issued by the Designated Authority has been received. He has submitted that he may be permitted to withdraw the appeal.

On the other hand the learned Departmental Representative has not raised any objection to the submissions of the learned 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 :- 3 -: the settlement of pending tax dispute. Accordingly, he prayed that he may be permitted to withdraw the appeal.

In view of the submissions of the Assessee, the appeal filed by the Assessee is permitted to be withdrawn.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In the result, both the appeals filed by the Revenue as well as the Assessee are dismissed as withdrawn.