M/S. PROSIL SILICONES PRIVATE LIMITED,,VADODARA vs. THE INCOME TAX OFFICER, WARD-2(1)(2),, VADODARA

At the time of hearing fixed in this case today, none has appeared on behalf of the assessee; however, it is observed that the assessee has submitted the Certificate in Form No.3 from Designated Authority under Section 5(1) of the Direct Tax Vivad Se Vishwas Act, 2020 and Form No.4 regarding the intimation of payment made under the VsV Scheme, alongwith Form No. 5 issued by the Principal Commissioner of Income Tax- 1, Vadodara towards the full and final settlement of tax arrears under the said Scheme, which are placed on record. In view of the above, the learned Departmental Representative submitted that she has no objection to the withdrawal of the appeal.

In the light of above discussion as also considering the Form No.5 submitted by the assessee towards the final settlement of tax arrears under Section 5(2) read with Section 6 of the Direct Tax Vivad Se Vishwas Act, 2020 issued by the PCIT-1, Vadodara, the appeal of the assessee is dismissed as withdrawn. However, in any event, if the assessee fails to avail the benefit of “Vivad se Vishwas Scheme” for any bonafide reasons, then the assessee will be at liberty to seek restoration of original appeal for hearing before the ITAT in accordance with law.

In the result, the appeal of the assessee is dismissed as withdrawn.