FOSTER WHEELER (GB) LIMITED,CHENNAI V. DCIT, INTERNATIONAL TAXATION CIRCLE-1(1), CHENNAI

ITTPA 45/CHNY/2023

AI Insights

The case involves multiple appeals filed by Foster Wheeler (GB) Limited against the assessment orders passed by the Deputy Commissioner of Income Tax, International Taxation Circle 1(1), Chennai, for various assessment years. The appeals were related to the assessments made under sections 143(3), 147, and 144C(13) of the Income Tax Act, 1961. During the proceedings, the assessee decided to avail the Vivad-se-Vishwas Scheme 2024, a dispute resolution scheme, and submitted the necessary forms to the tribunal. As a result, the tribunal dismissed the appeals as withdrawn, allowing the assessee to settle the disputes under the mentioned scheme.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 107423 (ITAT-CHENNAI)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 31-01-2025
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2011-2012
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: P.M. SENTHIL KUMAR
• Assessee Lawyers: VINAY JAIN
• Section: 143(3); 48

Judgement Text

"आयकर अपीलीय अिधकरण, ’डी’ Ɋायपीठ, चेɄई IN THE INCOME-TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI ŵी एस.एस. िवʷनेũ रिव, Ɋाियक सद˟ एवं ŵी मनोज क ुमार अŤवाल, लेखा सद˟ क े समƗ । Before Shri S.S. Viswanethra Ravi, Judicial Member & Shri Manoj Kumar Aggarwal, Accountant Member I.T.(TP)A. Nos.45, 47, 48 & 49/Chny/2023 िनधाŊरण वषŊ/Assessment Years: 2011-12, 2014-15, 2015-16 & 2016-17 & आयकर अपील सं./I.T.A. No. 623/Chny/2023 िनधाŊरण वषŊ/Assessment Year: 2013-14 Foster Wheeler (GB) Limited, 6th Floor, Zenith Building, Ascendas IT Park, CSIR Road, Taramani, Chennai 600 113. [PAN: AABCF3459N] Vs. The Deputy Commissioner of Income Tax, International Taxation Circle 1(1), Chennai. (अपीलाथŎ/Appellant) (ŮȑथŎ/Respondent) अपीलाथŎ की ओर से / Appellant by : Shri Vinay Jain, Advocate ŮȑथŎ की ओर से/Respondent by : Shri P.M. Senthil Kumar, JCIT सुनवाई की तारीख/ Date of hearing : 31.01.2025 घोषणा की तारीख /Date of Pronouncement : 31.01.2025 आदेश /O R D E R PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER: The appeals in I.T.(TP)A. 45, 47, 48 & 49/Chny/2023 filed by the assessee are directed against the assessment order dated 22.03.2023 passed under section 143(3) r.w.s. 147 r.w.s. 144C(13) of the Income Tax Act, 1961 [“Act” in short] for the assessment years 2011-12, 2014- 15, 2015-16 and order dated 27.03.2023 for the assessment year 2016-17. The appeal in ITA No. 623/Chny/2023 filed by the assessee I.T.(TP)A. Nos.45, 47, 48 & 49/Chny/23 & ITA No. 623/Chny/23 2 is directed against the order under section 143(3) r.w.s. 144C(13) of the Act dated 22.03.2023 for the assessment year 2013-14. 2. When these appeal were taken up for hearing, by filing an application along with Form No. 1 under DTVSV 2024, the ld. AR Shri Vinay Jain, C.A. submits that the assessee has opted to avail the Vivad-se-Vishwas Scheme 2024 and Form No. 2 was also filed for the above assessment years under consideration, which was issued by the Designated Authority. He has further submitted that the appeals filed by the assessee may be treated as withdrawn. 3. The ld. DR Shri P.M. Senthil Kumar, JCIT did not oppose to the submissions of the ld. AR. 4. Having heard both the parties, we note that the assessee opted for the Vivad-se-Vishwas Scheme 2024 and the Designated Authority issued Form No.2 vide Acknowledgement dated 08.01.2025 for AY 2011-12, 2014-15, 2016-17 and acknowledgement dated 24.01.2025 for AY 2015-16 towards the settlement of pending tax dispute. In view of the above facts and circumstances, the appeal filed by the assessee are liable to be dismissed as withdrawn as prayed by the ld. AR. However, it is open to the assessee to approach the Tribunal by filing I.T.(TP)A. Nos.45, 47, 48 & 49/Chny/23 & ITA No. 623/Chny/23 3 an appropriate application in the event of any prejudice caused in respect of the settlement of tax dispute under the Vivad-se-Vishwas Scheme 2024. 5. In the result, all the appeals filed by the assessee are dismissed as withdrawn. Order pronounced in the open Court on 31st January, 2025 at Chennai. Sd/- Sd/- (MANOJ KUMAR AGGARWAL) ACCOUNTANT MEMBER (S.S. VISWANETHRA RAVI) JUDICIAL MEMBER Chennai, Dated, 31.01.2025 Vm/- आदेश की Ůितिलिप अŤेिषत/Copy to: 1. अपीलाथŎ/Appellant, 2.ŮȑथŎ/ Respondent, 3. आयकर आयुƅ/CIT, Chennai/Madurai/Coimbatore/Salem 4. िवभागीय Ůितिनिध/DR & 5. गाडŊ फाईल/GF. "