ACIT, CHENNAI vs. TEXTILE DYE CHEM CORPORATION, CHENNAI

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ITA 913/CHNY/2016Status: DisposedITAT Chennai19 April 2021AY 1999-20003 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 allowed the assessee's request to withdraw the appeal as the assessee had opted for the Vivad-se-Vishwas Scheme. The Revenue was permitted to approach the Tribunal if any injustice occurred due to the scheme.

What were the facts?

The Revenue filed an appeal against the CIT(A) order. The assessee opted for the Vivad-se-Vishwas Scheme and requested to withdraw the appeal pending issuance of Form No.3.

What were the issues?

Whether the appeal should be dismissed as withdrawn by the assessee due to opting for the Vivad-se-Vishwas Scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘C’ BENCH: CHENNAI

Before: SHRI DUVVURU R.L. REDDY & SHRI S. JAYARAMAN

घोषणा क� तारीख /Date of Pronouncement : 19-04-2021 आदेश / O R D E R PER DUVVURU R.L.REDDY, JUDICIAL MEMBER:

This appeal filed by the Revenue is against the order of the learned Commissioner of Income Tax (Appeals)-10, Chennai, in dated 29.01.2016 relevant to the Assessment Year 1999-2000.

2.

When this appeal was taken up for hearing, by filing Form Nos.1 & 2, the Ld.Counsel for the assessee has submitted that the assessee has opted to avail the Vivad-se-Vishwas Scheme 2020. It was further submission 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 No.3. It has further submitted that the assessee may be permitted to withdraw the appeal.

3.

On the other hand, the Ld.DR has not raised any objection to the submissions of the Revenue.

4.

We have 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 filed Form Nos.1&2 and the Designated Authority is yet to issue Form No.3 for the settlement of pending tax dispute. Since the assessee has submitted that Form No.3 would be submitted as and when it is issued and prayed the assessee to withdraw the appeal, the ld.DR has fairly conceded for the above submissions of the Ld.Counsel for the assessee. However, it is open to the Revenue to approach the Tribunal by filing an appropriate application in the event of any injustice caused to the Revenue in respect of the settlement of dispute relating to the Vivad-se-Vishwas Scheme 2020.

6.

In the result, the appeal filed by the Revenue in is dismissed.

Order pronounced on the 19th day of April, 2021, in Chennai.

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