ACIT, CIRLCE-1, NAMAKKAL vs. M/S. APC DRILLING & CONSTRUCTION CO., NAMAKKAL

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ITA 121/CHNY/2020Status: DisposedITAT Chennai19 April 2021AY 2011-123 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 permitted the assessee to withdraw the appeal and cross-objection as they had opted for the Vivad-se-Vishwas Scheme. The parties were given liberty to approach the Tribunal if any injustice arose from the scheme's settlement.

What were the facts?

The Revenue filed an appeal, and the assessee filed a cross-objection for Assessment Year 2011-12. The assessee opted for the Vivad-se-Vishwas Scheme 2020, and pending the issuance of a required form, sought to withdraw the appeal and cross-objection.

What were the issues?

Whether the appeal and cross-objection should be withdrawn due to the assessee opting for the Vivad-se-Vishwas Scheme.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, ‘B’ BENCH: CHENNAI

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

Hearing: 19.04.2021

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

1.

The Revenue filed this appeal against the order of the Commissioner of Income Tax (Appeals), Salem, in dated 30.09.2019 for the AY 2011-12. CO No.14/Chny/2020 is a Cross- Objection filed by the assessee in the Revenue’s Appeal No.121/Chny/2020 for the AY 2011-12.

2.

When this Appeal/Cross Objection were taken up for hearing, by filing Form Nos.1 &2, the learned counsel for the Assessee has submitted that the assessee has opted to avail the Vivad-se-Vishwas Scheme 2020.

It was further a 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 it 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 Revenue/Assessee.

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 before the Tribunal as and when it is issued and prayed for permitting the assessee to withdraw the appeal/Cross Objection, the appeal/Cross Objection filed by the Revenue/Assessee are permitted to be withdrawn. However, it is open to the Revenue/Assessee to approach the Tribunal by filing an appropriate application in the event of any injustice caused to the CO No.14/Chny/2020 :- 3 -: Revenue/Assessee 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 as well as the Cross Objection filed by the assessee are dismissed as withdrawn.

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

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