AERO PISTONS P LTD,CHENNAI vs. ACIT CORPORATE RANGE-1, CHENNAI

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ITA 447/CHNY/2020Status: DisposedITAT Chennai22 March 2021AY 2013-142 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 appeals as they have opted for the Vivad-se-Vishwas Scheme. The assessee can approach the Tribunal if any injustice arises from the scheme's settlement.

What were the facts?

The assessee filed appeals against the CIT(A) order. During the hearing, the assessee submitted that they have opted for the Vivad-se-Vishwas Scheme 2020 and requested to withdraw the appeals.

What were the issues?

Whether the assessee can withdraw their appeals after 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: 22.03.2021

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

1.

The assessee filed these appeals against the order of the Commissioner of Income Tax (Appeals)-4, Chennai, in & 486/16-17/CIT(A)-4/AY:

2013-14 dated 03.02.2020 for the AY 2013-14.

2.

When these appeals were taken up for hearing, 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. It has 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 learned Counsel for the Assessee. & 448 /Chny/2020 :- 2 -:

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, it prayed that it may be permitted to withdraw the appeal.

6.

In view of the submissions of the Assessee, the appeals filed by the Assessee are permitted to be withdrawn.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 appeals of the Assessee in & 448/Chny/2020 are dismissed as withdrawn. Order pronounced on the 22nd day of March, 2021, in Chennai.

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