GRAMA VIDIYAL MICRO FINANCE LTD.,TRICHY vs. DCIT CIRCLE 3(1), TRICHY

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ITA 2612/CHNY/2018Status: DisposedITAT Chennai01 February 2021AY 2014-153 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal permitted the assessee to withdraw the appeal. The assessee can approach the Tribunal if any injustice arises from the Vivad-se-Vishwas settlement.

What were the facts?

The assessee opted for the Vivad-se-Vishwas Scheme 2020 for settlement of pending tax disputes. Form No. 3 was issued by the designated authority.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to the assessee opting for the Vivad-se-Vishwas Scheme.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘A’ BENCH: CHENNAI

Before: SHRI DUVVURU R.L. REDDY & SHRI G. MANJUNATHA

For Appellant: Adv. थ की ओर से /

आदेश / O R D E R PER DUVVURU R.L.REDDY, JUDICIAL MEMBER:

1.

This appeal filed by the assessee is against the order of the learned Commissioner of Income Tax (Appeals)-1,

2 :: Tiruchirappalli, in dated 20.07.2018 relevant to the Assessment Year 2014-15.

2.

When this appeal was taken up for hearing, vide letter dated 13.01.2021, the learned Counsel for the Assessee has submitted that the Assessee has opted to avail the Vivad-se- Vishwas Scheme 2020 and Form No.3 was also issued. 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.

3 :: 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 In view of the submissions of the Assessee, the appeal filed by the Assessee is permitted to be withdrawn.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 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 of the Assessee in is dismissed as withdrawn.

Order pronounced on the 01st day of February, 2021, in Chennai.

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