GVS SPINNERS PRIVATE LIMITED,ERODE V. ACIT, CIRCLE-1, ERODE

ITA 1396/CHNY/2023

AI Insights

The case involves two appeals by GVS Spinners Pvt. Ltd. for the Assessment Years 2017-18 against the order of the Learned Commissioner of Income Tax, National Faceless Appeal Centre, Delhi. The appeals were initially delayed, with a delay of 556 days in one of them, which was later condoned by the tribunal. The assessee opted for the Direct Tax Vivad-se-Vishwas Scheme, 2024, intending to resolve the disputes under this scheme. Consequently, the assessee requested to withdraw both appeals, which the tribunal granted, dismissing the appeals as withdrawn.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 107191 (ITAT-CHENNAI)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-02-2025
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2017-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: GAUTHAMI MANIVASAGAM
• Assessee Lawyers: N. ARJUN RAJ
• Section: 263

Judgement Text

"आयकर अपीलीय अिधकरण, ‘बी’ \u0011ा यपीठ, चे\u0016ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH: CHENNAI \u0019ी यस यस िव\u001cने\u001e रिव, \u0011ा ियक सद एवं \u0019ी जगदीश, लेखा सद क े सम( BEFORE SHRI SS VISWANETHRA RAVI, JUDICIAL MEMBER AND SHRI JAGADISH, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.1396 & 1592/Chny/2023 िनधा =रण वष= /Assessment Years: 2017-18 GVS Spinners Pvt. Ltd., 201, Veerapanchatram, SG Valasu, Erode – 638 004. Vs. The Asst. Commissioner of Income Tax, Circle-1, Erode. [PAN: AAJCS 4276Q] (अपीलाथ\u0007/Appellant) (\b\tयथ\u0007/Respondent) अपीला थJ की ओर से/ Appellant by : Shri N. Arjun Raj, Advocate LMथJ की ओर से /Respondent by : Shri Gauthami Manivasagam, JCIT सुनवा ई की ता रीख/Date of Hearing : 28.02.2024 घोषणा की ता रीख /Date of Pronouncement : 28.02.2025 आदेश / O R D E R PER JAGADISH, A.M : Aforesaid two appeals filed by the assessee for Assessment Years (AYs) 2017-18 arises out of the order of Learned Commissioner of Income Tax, National Faceless Appeal Centre (NFAC), Delhi [hereinafter “CIT(A)”] dated 08.11.2023. 2. There is a delay of 556 days in filing the appeal by the assessee in ITA No.1396/Chny/2023. The assessee has filed condonation ITA Nos.1396 & 1592/Chny/2023 :- 2 -: petition stating the reasons for delay in filing the appeal. We have considered the petition of delay in filing the appeal and satisfied that there was sufficient cause for not filing the appeal within the prescribed time limit. Hence, the delay is hereby condoned. 3. The Ld. Authorized Representative (A.R) of the assessee, at the outset stated that assessee has opted for Direct Tax Vivad-se-Vishwas Scheme, 2024 in ITA No.1396/Chny/2023 and therefore, wants to withdraw the appeal. The Ld. A.R has submitted a copy of Form-1 filed by the assessee and Form-2 issued by the designated authority in support of its contention. The Ld. AR further submitted that the appeal number mentioned in Form No.1 was erroneously stated, as the assessee ought to have incorporated the appeal number of the effect giving proceedings in ITA No.1592/Chny/2023, or included both appeal numbers i.e., the appeal against the order u/s. 263 of the Act and the other appeal arising from the effect-giving proceedings. 4. We have heard both the sides, and perused the materials available on record. In these cases, the assessee has opted for the Direct Tax Vivad-se-Vishwas Scheme, 2024 by filing Form-1. The Designated Authority has also issued Form No.2 for the settlement of pending tax dispute. The Ld. AR has now made a request to withdraw ITA Nos.1396 & 1592/Chny/2023 :- 3 -: the appeals. We allow the assessee to withdraw the appeals and dismiss the appeals as withdrawn. However, it is open to the assessee to approach the Tribunal by filing an appropriate application in the event of any prejudice caused in respect of the settlement of tax dispute under the Direct Tax Vivad-se-Vishwas Scheme, 2024. 5. In the result, both the appeals filed by the assessee are dismissed as withdrawn. Order pronounced on 28th February, 2025. Sd/- Sd/- (यस यस िव\u001cने\u001e रिव) (SS Viswanethra Ravi) \u0001याियक \u0001याियक \u0001याियक \u0001याियक सद\bय सद\bय सद\bय सद\bय / Judicial Member (जगदीश) (Jagadish) लेखा लेखा लेखा लेखा सद\u0011य सद\u0011य सद\u0011य सद\u0011य /Accountant Member चे\u0013नई/Chennai, \u0016दनांक/Dated: 28th February, 2025. EDN/- आदेश क\u0019 \bितिल\u001cप अ\u001dे\u001cषत/Copy to: 1. अपीलाथ\u0007/Appellant 2. \b\tथ\u0007/Respondent 3. आयकर आयु\u000f/CIT, Coimbatore 4. िवभागीय \bितिनिध/DR 5. गाड\u0018 फाईल/GF "