ITO, CORPORATE WARD - 6(3), CHENNAI vs. SLN SECURITIES FOREX PVT. LTD., CHENNAI

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ITA 2804/CHNY/2019Status: DisposedITAT Chennai11 February 2021AY 2011-123 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal permitted the Revenue's appeal to be withdrawn by the assessee. The assessee can approach the Tribunal if any injustice arises from the Vivad-se-Vishwas settlement.

What were the facts?

The Revenue filed an appeal against the order of the CIT(A) for assessment year 2011-12. The assessee opted for the Vivad-se-Vishwas Scheme and received Form No. 3 for settlement.

What were the issues?

The primary issue was the withdrawal of the appeal due to the assessee opting for the Vivad-se-Vishwas Scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘D’ BENCH: CHENNAI

Before: SHRI DUVVURU RL REDDY & SHRI S. JAYARAMAN

Hearing: 11.02.2021

: Shri M. Karunakaran, Advocate अपीलाथ" क" ओर से/Assessee by : Ms. R. Anitha, JCIT ""यथ" क" ओर से /Revenue by : 09.02.2021 सुनवाई क" तार"ख/Date of Hearing : 11.02.2021 घोषणा क" तार"ख /Date of Pronouncement आदेश / O R D E R PER DUVVURU RL REDDY, JUDICIAL MEMBER:

This appeal filed by the Revenue is directed against the order of the Commissioner of Income Tax (Appeals)-15, dated 26.07.2019 relevant to the assessment year 2011-12. 2 I.T. I.T.A. No. I.T. I.T. A. No. A. No.2804 A. No. 2804 2804/Chny 2804 Chny Chny/20 Chny 20 2019 20 19 19 19

2.

When this appeal was taken up for hearing, vide letter dated 08.02.2021, the learned counsel for the assessee has submitted that he has opted to avail the Vivad-se-Vishwas Scheme 2020 and Form No.3 was also received from the Designated Authority. He has submitted that he may be permitted to withdraw the appeal.

3.

On the other hand the learned Departmental Representative has not raised any objection to the submissions of the learned Counsel for the Assessee.

4.

We have heard both the sides, perused the materials available on record and gone through the orders of the authorities below.

5.

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. Accordingly, he prayed that he may be permitted to withdraw the appeal.

6.

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 3 I.T. I.T.A. No. I.T. I.T. A. No. A. No.2804 A. No. 2804 2804/Chny 2804 Chny Chny/20 Chny 20 2019 20 19 19 19 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.

7.

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

Order pronounced on the 11th February, 2021 at Chennai. (एस. जयरामन) (धु"वु" आर.एल रे"डी) (S. JAYARAMAN) (DUVVURU RL REDDY) लेखा सद"य /ACCOUNTANT MEMBER "या"यक सद"य/JUDICIAL MEMBER चे"नई/Chennai, "दनांक/Dated: 11th February, 2021. EDN, Sr. P.S

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