SRI. G. DAYANANDA REDDY (HUF),BANGALORE vs. INCOME TAX OFFICER, WARD- 4(3)(4), BANGALORE

The assessee has filed this appeal against the order dated 25.10.2019 passed by the ld. CIT(Appeals)-4, Bengaluru relating to the assessment year 2011-12. The assessee has challenged the jurisdiction of reopening of assessment u/s. 148 of the Income-tax Act, 1961 [the Act] as well as on merits the addition on account of long term capital gains.

The ld. counsel for the assessee has filed a letter dated 02.09.2020 stating that the assessee has filed Form 1 & Form 2 under The Direct Tax Vivad Se Vishwas Act with respect to this appeal and Form 3 is awaited. Once Form-3 is issued, the assessee will be withdrawing this appeal before the Tribunal. Accordingly, adjournment of the appeal is sought for.

The ld. D.R, however, submitted that the assessee has to withdraw the pending appeals after filing Form VSV1 as per Vivad Se Vishwas Scheme 2020. Thereafter, the assessee is required to furnish a copy of the same along with the proof of payment of tax as determined by the tax official to the department. She submitted that the Form no.3 shall be issued to the assessee in due course and accordingly she submitted that these appeals of the assessee may be dismissed as withdrawn, as the assessee, in any way, is required to withdraw the appeal.

We heard the parties and perused the record. Since the assessee has opted for Vivad Se Vishwas Scheme, 2020, it would be moving application for withdrawing the present appeal filed before the Tribunal in due course. Since the assessee has already filed the necessary applications before the tax authorities under the above said scheme, we are of the view that no purpose will be served in keeping these appeals pending. Accordingly we dismiss the appeal of the assessee as withdrawn.

The assessee has also sought adjournment on the ground that since it has not yet received Form no.3, in which the tax amount to be paid by the assessee shall be intimated by the department, meaning thereby, the assessee wants to make sure that the tax liability mentioned by it in Form No.1 should get confirmed by the revenue. On these set of facts, since we have already dismissed the appeal, the assessee is given liberty to move appropriate application for recall of the present order in accordance with the law, if the assessee intends to do so.

In the result, the appeal of the assessee is dismissed as withdrawn.