VINODH KUMAR JAIN AND SONS,CHENNAI vs. ITO NON CORPORATE WARD 9(1), CHENNAI

The assessee filed this appeal against the order of the Commissioner of Income Tax (Appeals)- 10, Chennai in dated 11.12.2018 for the assessment year 2015-16.

At the time of hearing, none appeared for the assessee but the learned counsel for the assessee has submitted a letter dated 05.04.2021 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.

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 and obtained Form No.3 and seeks withdrawal of appeal, therefore, we dismiss the appeal filed by the assessee, supra, as withdrawn. However, liberty is given to the assessee to restore the appeal, in the event of the designated authority, for any reason reject the application filed by the assessee under section 4 of the said Act. We, further make it clear that if the assessee has for any reason opted out from the scheme or the applicant under the scheme misrepresent any fact which resulted in rejection of application filed under the scheme, then the provisions of section 4(6) of the Act, shall be applicable to all such appeals and in such cases, all the proceedings and the claims which were withdrawn under section 4 and all the consequences under the Income Tax Act against the declarant shall be deemed to have been revived. 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 to file miscellaneous application to restore the appeal.

In the result, the appeal filed by the assessee is dismissed as withdrawn.