ISC INVESTMENT & FINANCE (P) LTD,CHENNAI vs. DCIT, COR RANGE-2, , CHENNAI

This bunch of four appeals filed by different assessees are directed against the orders of learned Commissioner of Income Tax (Appeals), Chennai even dated 16.03.2020, 10.10.2017 & 28.09.2018 for respective assessment years.

When these appeals were taken up for hearing, vide letters dated 29.03.2021, 15.04.2021 & 21.04.2021, the learned counsels for the assessees have submitted that the assessees have opted to avail the Vivad-se-Vishwas Scheme 2020 and Form No.3 was also issued in all the appeals. They have also submitted that they may be permitted to withdraw the appeals.

The appeal in A.Y 2007-08, the learned counsel for the assessee has submitted the assessee has opted to avail the Vivad-se-Vishwas Scheme 2020. It was further submitted that Form No.3 from the Designated authority is yet to be issued and would be submitted in due course and the same shall be furnished after issuance of Form 3. He has further submitted that the assessee 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 assessees.

We have heard the counsels for the assessees through video conferencing, perused the materials available on record and gone through the orders of the authorities below.

In these cases, the assessees have opted for the Vivad-se- Vishwas Scheme 2020 and the Designated Authority has issued Form No.3 in the all the appeals, except in since, the ld. Counsel for the assessee has submitted that Form 3 would be submitted as and when it was issued for the settlement of pending tax dispute. Accordingly, the assessees have prayed that they may be permitted to withdraw the appeals.

In view of the submissions of the assessees, the appeals filed by the assessees are permitted to be withdrawn. However, it is open to the assessees to approach the Tribunal by filing an appropriate application in the event of any injustice caused to the assessees in respect of the settlement of dispute relating to the Vivad-se-Vishwas Scheme 2020.

In the result, all the four appeals filed by the assessees are dismissed as withdrawn.