TUBE INVESTMENT OF INDIA LIMITED,CHENNAI vs. ACIT, CHENNAI

These five appeals filed by assessees are directed against the orders of learned Commissioner of Income Tax (Appeals), Chennai & Coimbatore even dated 19.01.2015 & 26.02.2019 for respective assessment years. to 1382/Chny/2015 & 1011/Chny/2019 :- 2 -: 2. When these appeals were taken up for hearing, vide letters dated 16.03.2021, the learned Counsels for the assessees have submitted that the assessees have 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 3. The learned Counsels for the assessees have further submitted that the assessees may be permitted to withdraw the appeals.

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

We have heard both the sides 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 is yet to issue Form No.3 for the settlement of pending tax dispute. Since, the ld. Counsel for the assessees have submitted that Form 3 would be submitted as and when it was issued and prayed for permitting the assessees to withdraw the appeals, the appeals filed by the assessees are permitted to be to 1382/Chny/2015 & 1011/Chny/2019 :- 3 -: withdrawn.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In the result, all the five appeals filed by the assessees are dismissed as withdrawn.