M/S. ALFA INVESTMENTS, CHENNAI V. ITO, NCW - 1 (1), CHENNAI

CO 17/CHNY/2020

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 3115 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 7 month(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 20-10-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2010-2011
• Appeal Filed On: 20-03-2020
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: V PADMANABHAN

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, CHENNAI . , . , BEFORE SHRI DUVVURU RL REDDY, JUDICIAL MEMBER AND SHRI G. MANJUNATHA, ACCOUNTANT MEMBER C.O NOS.: 17 & 18/CHNY/2020 (IN ITA NOS. 280 & 281/CHNY/2020) / ASSESSMENT YEARS: 2010-11 & 2011-12 M/S. ALFA INVESTMENTS, DOOR NO.10 &11, 4 TH FLOOR, CHENNAI CITY CENTRE, DR. RADHAKRISHNAN SALAI, MYLAPORE, CHENNAI 600 004. PAN: AATFA 1690D V. THE INCOME TAX OFFICER , NON CORPORATE CIRCLE - 1(1) CHENNAI - 34. ( /APPELLANT) ( /RESPONDENT) / APPELLANT BY : SHRI V. PADMANABHAN, CA /RESPONDENT BY : SHRI AR.V. SREENIVASAN, ADDL.CIT /DATE OF HEARING : 20.10.2021 /DATE OF PRONOUNCEMENT : 20.10.2021 / O R D E R PER BENCH: THESE CROSS OBJECTIONS FILED BY THE ASSESSEE ARE DIRECTED AGAINST THE ORDERS OF LEARNED COMMISSIONER OF INCOME TAX (APPEALS)-2, CHENNAI, DATED 19.11.2019 & 26.11.2019 AND PERTAINS TO ASSESSMENT YEARS 2010-11 & 2011-12. 2. WE HAVE HEARD THE LD. COUNSEL FOR THE ASSESSEE AND THE LD. DR AND ALSO PERUSED THE MATERIALS AVAILABLE ON RECORD. AT THE TIME OF 2 CO. NOS.17 & 18/CHNY/2020 (VSVS) HEARING, THE LD.AR FOR THE ASSESSEE HAS FILED A LETTER STATING THAT THE APPEALS FILED BY THE REVENUE FOR THE RELEVANT ASSESSMENT YEARS HAVE BEEN DISMISSED, SINCE THE ASSESSEE HAD AVAILED THE VSVS SCHEME TO SETTLE ITS PENDING DISPUTES AND THE DEPARTMENT HAS ACCEPTED APPLICATIONS FILED BY THE ASSESSEE AND ISSUED FORM 3 QUANTIFYING AMOUNT OF TAXES PAYABLE UNDER VSVS SCHEME. HENCE, THE LD.AR HAS REQUESTED FOR WITHDRAWAL OF CROSS OBJECTIONS. THE LD.DR ON THE OTHER HAND HAS NO OBJECTION FOR WITHDRAWING THE CROSS OBJECTIONS FILED BY THE ASSESSEE. THEREFORE, CONSIDERING THE FACT THAT THE ASSESSEE HAD FILED FORM 3 ISSUED BY THE DEPARTMENT AND THE APPEALS FILED BY THE REVENUE HAD BEEN DISMISSED AS WITHDRAWN, THE CROSS OBJECTIONS FILED BY THE ASSESSEE FOR BOTH ASSESSMENT YEARS BECOME INFRUCTUOUS. HENCE, WE DISMISS THE CROSS OBJECTIONS FILED BY THE ASSESSEE AS WITHDRAWN. 3. IN THE RESULT, BOTH THE CROSS OBJECTIONS FILED BY THE ASSESSEE ARE DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 20 TH OCTOBER, 2021 AT CHENNAI. SD/- SD/- ( . ) (DUVVURU RL REDDY) / JUDICIAL MEMBER ( . ) (G. MANJUNATHA) /ACCOUNTANT MEMBER /CHENNAI, /DATED, THE 20 TH OCTOBER, 2021 RSR 1. /APPELLANT 2. /RESPONDENT 3. ( ) /CIT(A) 4. /CIT 5. /DR 6. /GF.